Downtown B of A to close
Lincoln’s downtown Bank of America will close its doors at 2 p.m. Sept. 18. “Bank of America continually assesses our presence in every community in which we do business,” said Colleen Haggerty, senior vice president of West Coast media relations for Bank of America. “Adjustments to our retail network are a normal part of business to ensure that we have the appropriate level and mix of stores and ATMs in each market.” Several residents contacted by the News Messenger are disappointed, though, that the Bank of America branch at 570 Fifth St. will soon permanently close. “I just don’t understand why they’re doing that,” said Carolyn Richardson. “I just hate for them to do it. I’ve banked here for a long time.” Richardson said she lives about three miles out of town and that she does the majority of her banking through the ATM. While the ATMs at the downtown branch will be removed, according to Haggerty, the bank is considering placing new ATMs nearby. Lincoln Mayor Spencer Short said it’s critical for Bank of America to remain downtown for those who live in that area, including the elderly. “I feel this truly represents a bad business plan by Bank of America to abandon downtown Lincoln,” Short said. Short said he plans on talking with Bank of America headquarters to stress the need to maintain a presence in Lincoln’s downtown. If the building does become vacant, according to Short, the city will redevelop the site. “While vacancies do occur downtown, our goal is to link up businesses and appropriate sites to assure viability downtown.” Another City Councilman and a longtime Bank of America customer is concerned about the state of downtown once Bank of America closes. “It’s unfortunate that there has been a corporate decision to abandon downtown,” said Councilman Tom Cosgrove. “Particularly at an economic time when we need to keep downtown strong.” Cosgrove has visited the downtown branch for the past 22 years. “Apparently, they don’t understand how important their presence is,” Cosgrove added. “I feel like they’re abandoning us.” Despite the closure, Haggerty said Lincoln’s Sterling Pointe banking center is less than a mile and a half from the downtown location. That wasn’t the answer Short wanted to hear. “It’s a mile and a half on a congested highway with inadequate parking for banking,” Short said.
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If you're not happy with BofA's decision, I suggest you show your dissatisfaction by moving your money to a different financial institution in town. In fact, a credit union is a great choice....either SAFE or Golden One. You can only get BofA's attention through their wallet.
What exactly is "inadequate parking for banking"?
Have you ever been to the B of A at Sterling Point? It's the worst parking situation I have ever seen. I opened an acct with WAMU only to close it after a few months because it is parking lot hell in that corner of the center. It's my guess as to the main reason neither of the 2 IAG's owners could survive there. The parking is completely inadequate for the business that is done now, adding all the traffic from the dwntwn branch will be ridiculous. If they don't change their mind I'll bet Wells Fargo, RCB and USB gain a lot of cusotmers.
It just business people. They dont need two banks that close together. How can city council say anything when they did the same thing by cutting police, city services etc... Then they complain about the parking. Their planning staff approved it, so blame your own peole. Seems like everytime something goes wrong, the council blames someone eles. Those who live in glass houses.................
This totally sucks. I always use that BofA and the other one is actually closer. The one near Raley's is a friggin nightmare for parking and always crowded. The one on 5th is rarely a wait. Bad move BofA. Side note: It's been several days... can someone please correct the spelling in the headline?
B of A has been about profitability forever. Since the downtown branch is not making money for the corporation - they will shut it down. I agree with "soonerfan" - move your money elsewhere. And credit unions are definitely a better place. I have been a c.u. member since leaving B of A in the late 80's and enjoy the numerous benefits of membership. Since most of my banking is ATM based, I have access to more than 60,000 surcharge free ATM's in the credit union network!! Beat that with the big banks!!