(Photo courtesy of MilfordLive.com)
M&T will close two downstate branches this spring in Milford and Bethany Beach.
Downtown Milford branch customers will move to the west Milford branch .7 of a mile away on Route 113. The automatic teller machine, for the time being, will remain with the building that is being put up for sale. The move becomes effective on April 17. To the south, the Bethany Beach branch will be consolidated into the Millville Town Center branch, three miles away, also in April. The Bethany building will also go on the sale market.
Accounts at both branches will be automatically transferred to the consolidated offices, M&T spokesman Philip Hosmer said.
“Our branches are moving away from being primarily transaction-based toward being a place for consultation and advice,” Hosmer said. “As we evaluate our branches, we can identify specific locations where we need to locate a new branch or ATM, where we should invest in expanding or remodeling a branch location, and also where we have branches that are no longer positioned to effectively and efficiently serve our customers.”
Hosmer said M&T will continue to operate an “effective, efficient and comprehensive network of channels through which our customers can access their funds and access our products and services.”
Branch banking has been affected by technology, according to Hosmer. “For example, all of our in-branch ATMs now have the capability to scan images to take deposits. We have introduced a new mobile banking platform and new apps for Apple and Android that are more intuitive and have more functionality. And we also launched a new online banking experience at mtb.com that’s easier and faster to use. All of these enhancements are designed to meet the changing needs of our customers, so they can bank with us when, where and how they want to.”
For example, depositing checks via smartphone can virtually eliminate visits to the teller’s window. Moreover, Social Security and many employers often require direct deposit of retirement of payroll checks. Milford Mayor Bryan Shupe says the city will work to find a business suitable for the bank building and others in the city. Shupe and his family own businesses in downtown.
“The conversation I had with M&T Bank officials was about building a partnership to identify a new commercial interest in the building. I believe it it short sighted to only believe that a bank can utilize this space,” Shupe stated. “The City of Milford will work with M&T Bank, local leaders and residents in reimagining what that space can possibly become. To continue our downtown revitalization efforts we need a facility that will attract daily foot traffic to increase the number of residents and visitors in the downtown area. In my opinion, the location would be ideal for a restaurant or entertainment venue. This property offers a large parking lot for the downtown Milford area along our main gateways of Front Street and Walnut Street which will be attractive to potential buyers and also benefit other downtown businesses as the parking becomes available for public use.”
Shupe went on to say that he plans to “convene a diverse group including community leaders, the Chamber of Commerce for Greater Milford, Downtown Milford Inc. and business owners that will help develop a discussion around the landmarks that need to be repurposed in our future including the Milford Armory, Bayhealth Clark Avenue facility and the former Middle School.”
According to Shupe, “the group will not only discuss the needs of our community and how to repurpose these buildings but what steps can be taken short- and long-term to ensure that these buildings are the best use for our community.”
