Bank of America confirmed Monday that it is closing its East Northport branch on Nov.27, the same day its Dix Hills center will shut down.
Tara Burke, a bank spokeswoman, said the East Northport’s ATM operation will remain in place until December 2020.
In deciding which branches to close, “We look at customer behaviors, whether there’s an uptick in online use and whether foot traffic is declining,” she said. The availability of another branch, on Fort Salonga Road in Northport 1.9 miles away, is another factor.
That customer shift to mobile use cuts both ways.
Bank of America is expanding its outreach to young people. That includes the redesign of 42 financial centers to “student centers,” bringing the national total to 102 by the end of the year, the introduction of the industry’s first Digital Student Application and the extension of student fee waivers to its SafeBalance Banking account.
It is focusing on students and other young people with:
- Student Banking website – A one-stop online resource, including financial tools and solutions for young adults, is available in English, Spanish and Mandarin to serve Bank of America’s client base.
- Better Money Habits– This free financial education platform of tools and information enables young adults to better understand their financial choices and make confident decisions about their personal finances. Spanish-language resources began rolling out on bettermoneyhabits.com last year; the site will be fully available in Spanish by the end of 2018.
- Quarterly financial tips – Sent via email, tips offer insights on financial topics ranging from how to keep money safe while traveling on spring break to how to manage holiday spending on a tight budget.
- Mobile Banking with Erica and Zelle® – Erica is an AI-driven virtual assistant. Available in the mobile banking app, Erica can assist with everyday tasks, such as accessing balance information, transferring money between accounts, sending money with Zelle, navigating the app and much more.
Student centers, first introduced in Los Angeles in 2016, are near colleges and universities, the bank, said, post student artwork and often feature furniture in school colors.