Needles Economic Development Corporation talks about Bank of America bank branch closing.

 

Downtown Needles, CA: More talks over what to do when Bank of America closes their bank branch in Downtown Needles, California on Friday, January 25th, 2012.

 

 

Members of the Needles Economic Development Corporation (NEDC) with Needles Economic Development Corporation President Elaine Cullen talked about what is being done to help the people of Needles, California in this banking crisis.

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Here is a few of what was brought up and talked during the Needles Economic Development Corporation (NEDC) Meeting agenda item #5 (A): Bank of America closing:

 

 

– The threshold for a bank to be health is about $50 million dollars deposit line.

 

The Bank of America bank branch in Downtown Needles, California is getting $35 to $36 million dollars in deposit.

 

 

– Talks and meetings on going with other banks such as Chase Bank and credit unions such as Desert Communities Federal Credit Union on what they can do to help as well as to ask for their advice on this important issue.

 

 

– “Bashas (Bashas Corporate owns the Bashas’ Grocery Store in Needles, California) will not invest in doing a Starbucks or doing a bank or doing anything. They have been approached,” said Needles Economic Development Corporation President Elaine Cullen adding, “Bashas don’t want to spin a penny on this store.”

 

Bashas’ is a family-owned grocery store chain primarily located in Arizona with two locations outside Arizona. Bashas’ has a grocery store inside the Needles Towne Center in Needles, California.

 

Bashas’ headquarters are in unincorporated Maricopa County, Arizona and Eddie Basha, Jr. is the current chief executive officer (CEO) of Bashas’ Family of Stores which includes four distinct formats: Bashas’, Bashas’ Diné, AJ’s Fine Foods and Food City.

 

 

– “It’s not going to be easy replacing this bank,” said Needles Economic Development Corporation President Elaine Cullen adding, “You’re a bank; an inventory is your deposit and the product you selling is your loan, and right now they (Bank of America bank branch in Downtown Needles, California) are way overstock on inventory because nobody is spending money and they are way underlining in deductions because nobody isn’t borrowing. So until that changes, it’s going to be very difficult,” said Needles Economic Development Corporation President Elaine Cullen .

 

 

– A spokesperson for Bank of America tells Needles Economic Development Corporation President Elaine Cullen that Bank of America is trying not to lay anybody off from the Bank of America bank branch in Downtown Needles, California and Bank of America is trying to move all the employees to other Bank of America bank branches.

 

 

– A spokesperson for Bank of America tells Needles Economic Development Corporation President Elaine Cullen that Bank of America is trying steps to try to leave an ATM machine there in Downtown Needles, California.

 

The spokesperson for Bank of America added that even if Bank of America don’t leave an ATM machine in Downtown Needles, California, there’s another ATM machine only 7 miles away in Fort Mohave, Arizona.

 

Those who don’t have transportation will be deeply effect because they are unable to get to that Bank of America bank branch 7 miles away in Fort Mohave, Arizona.

 

 

– The Elks now owns the building that Bank of America is inside. Bank of America lease to the building started in 1964 and that Bank of America built the building then the building belonged to the Elks.

 

 

– Any plans for to the building that Bank of America is inside? The Elks do not what’s going to happen with Bank of America and are planning to talk about what to do with the building that Bank of America is current occupying.

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ZachNews can confirmed on Wednesday, August 29th, 2012 that the Bank of America Branch in Downtown Needles, California is closing this bank branch on Friday, January 25th, 2013.

 

 

ZachNews has received an email with a statement from Bank of America’s Media Relation Department regarding the closing of the Bank of America Branch in Downtown Needles, California:

 

 

We constantly evaluate our retail network to ensure we are meeting evolving customer demand, and may add or consolidate banking centers as a result.

 

After careful consideration, we have decided to not renew the lease at our banking center located at 1001 W. Broadway Street in Needles when it expires at the end of February, 2013. We typically give local customers 90 days notice regarding a banking center closure.

 

This decision is driven by a number of factors including declines in transactions as customers increasingly rely on other banking channels such as mobile and online banking.”

 

 

 

The reports of the Bank of America Branch in Downtown Needles, California began to unfold late that Tuesday afternoon and was even heard in the crowd during the Needles City Council Meeting held on Tuesday, August 28th, 2012.

 

Those who have an account with Bank of America are upset that Bank of America is closing the Downtown Needles, California bank branch. Many others are mad at Bank of America and are blaming Bank of America corporate employees for the closer and see Bank of America corporate employees as uncaring people.

 

In all, everybody is worry for those who are employed inside the Downtown Needles, California Bank of America bank branch and will miss interacting with all of Bank of America employees.

 

 

If you want to comment or fie a complaint regarding Bank of America closing their bank branch in Downtown Needles, California, you can contact the Bank of America Corporate Office at: 1 (704) 386-5681 then select option 2.

 

 

More talks and meetings to coming as the people of Needles, California awaits what can be done when Bank of America closes in Downtown Needles, California on Friday, January 25th, 2013.

 

 

Stay with ZachNews for more updated information regarding this news story.

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You can watch the video of the Needles Economic Development Corporation (NEDC) Meeting talking about Bank of America closing their bank branch in Downtown Needles, California on the ZachNews Channel on YouTube.

 

http://www.youtube.com/watch?v=_CI80JqiccA&list=UU8kHHmIKSCaecTm5-j_i6oQ

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