By Jennifer Von Ohlen
DASSEL, MN The Wells Fargo branch in Dassel recently confirmed the rumors floating around town are true: it will be permanently closing Wednesday, June 13 at noon.
“This is not an easy decision or one that we take lightly,” stated Wells Fargo Corporate Communications Upper Midwest Region Vice President John Hobot.
He explained, “We continually evaluate our branch network and make adjustments based on customer use, market factors, economic trends, and competitor actions. This process leads to both expansion and closures. In the case of our Dassel branch, we’ve seen a decrease in customer traffic over the last few years.”
Part of the reasoning for this is that bankers seem to be doing more and more of their financial business online. As a result, fewer transactions are happening within the branch itself.
“At this time, we anticipate that the tellers and personal bankers in Dassel will transfer to comparable positions within our branch network when this branch closes,” said Hobot.
Dassel’s branch, however, is not the only one that will be shutting its doors.
Wells Fargo announced mid-January that it expects to close 250 branches or more across the nation, and anticipates its total branch network will decline to about 5,000 by the end of 2020.
“While branches are important in serving our customers’ needs,” said Hobot, “customers have more ways than ever to bank, whether it be at a branch, ATM, online, or by mobile app.”
In Minnesota, there are currently 162 Wells Fargo Community Banking branches and 568 ATMs.
How accounts will be affected
Although the Dassel branch’s closing might stir a few questions regarding accounts, Hobot emphasized that customer accounts will not be impacted by the change.
“No matter where or how customers choose to bank with Wells Fargo, there will be no change in how customer accounts are handled,” he stated.
Those with a safety deposit box at the Dassel location will receive a separate notification letter regarding the proper proceedings for the transition.
Area bankers are invited to use other Wells Fargo branches to continue with their banking needs following the Dassel location’s closure.
The branches closest to Dassel include the one in Litchfield, 100 N Marshall Avenue, and Hutchinson, 135 Main Street N.
Until it closes in June, bankers will be able to use the Dassel branch the same “as they always have.”
“We value our customers and will keep them informed of any changes that may impact their everyday banking,” said Hobot.