- Last Updated on Sunday, 31 March 2019 12:31
By Ken Askew
The Wall Street Journal recently wrote that closing bank branches has become a business trend across the country. As of May 3, 2019, the local branch of Key Bank, located at 3500 Extension Avenue in Finleyville will be the latest victim to fall due to changes in consumers’ ways of doing business.
Key Bank has announced to its’ customers that the Finleyville branch will close, but their accounts will automatically transfer to the Hillcrest Branch location at 4996 Library Road, Bethel Park. At the customer’s option, there are three additional branches of Key Bank that will welcome their transferred accounts: (1) McMurray Branch, 4073 Washington Road, McMurray, (2) Monongahela Branch, 318 West Main Street, Monongahela, and (3) Elizabeth Branch, 810 McKeesport Road, Elizabeth. The Finleyville branch offered safe deposit boxes. Three of the above branches (Hillcrest, Monongahela, and Elizabeth) will do likewise, plus the Pleasant Hills branch at 10 Old Clairton Road, Pittsburgh.
Key Bank says they will do their best to relocate the current employees at the Finleyville location to other branches.
Until about a year ago, residents of the Finleyville area had a choice of three banks in town, but the Huntington Bank on Route 88 went out of business. With the departure of Key Bank, the only bank left in Finleyville will be the Citizen’s Bank inside the Giant Eagle grocery store at 3701 Route 88.
The location of the Key Bank branch in Finleyville has undergone several name changes over the past 30 years. Equibank operated a branch at this location for many years. The bank then changed hands and names to Integra Bank, National City Bank, First Niagara Bank, and most recently on August 1, 2016, Key Bank. Key Bank will be closing the Finleyville location after being in operation there for less than three years.
A representative of Key Bank explained it this way: “Over the past few years, we have seen a steady increase in customer preference for online, digital and mobile banking. In response, we are making greater investments in technology to enhance these services; at the same time, we are optimizing our branch network when it makes economic sense.”