More Banking Financial Institutions in Chittenden County

More Banking Financial Institutions in Chittenden County

While the number of branches in Chittenden County is going up, rural areas are losing physical bank locations. “Well at Mascoma Bank, we’ve been lending commercial and residential loans for more than 10 years. Our customers said if we wanted to grow more, we had to have a branch here,” said Scott Young, the chief retail officer at Mascoma Bank. Pieciak says COVID expedited the mobile banking trend in those areas.

Pieciak says Chittenden County is the most economically vibrant county in the state. Both regional and national banks have been expanding their footprints here. “You can look around and see all the different housing developments being built. People are moving here. Businesses are moving here. Banks are going to follow that economic activity, as well,” said Michael Pieciak, the commissioner of the Vermont Department of Financial Regulation.

“We have seen an influx of business customers coming in. Our small business support, middle-market and just business with Chase is really helpful,” said Steven Wald, a branch manager at Chase Bank. Eleven new bank branches have opened in Chittenden County since 2018.

Copyright 2021 WCAX. All rights reserved.

However, Pieciak says whenever a bank moves out of a rural area, the Department of Financial Regulation does everything in their power to encourage a new one to move in. “We found a lot of Vermonters who maybe didn’t use mobile banking before the pandemic and were forced to use the mobile banking actually appreciate it and would like using it to move forward,” Pieciak said.

The News Highlights

  • More Banking Financial Institutions in Chittenden County
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
What is the best way to transfer photographs from an iPhone to a Windows PC?
What is the best way to transfer photographs from an iPhone to a Windows PC?
I’m a Mac guy at home, so I only need to move photos from my iPhone to my MacBook Pro, which isn’t difficult. I recently received an email from a reader who ...
GameStop to rebrand EB games in Canada
GameStop to rebrand EB games in Canada
One such example of this was Target exclusives, which immediately posed a problem in Canada, where Target stores had existed when amiibo first launched, but ...
Freddie Mac Reports Second Quarter 2021 Financial Results
Freddie Mac Reports Second Quarter 2021 Financial Results
INVESTOR CONTACT: Laurie Garthune571-382-4732 MEDIA CONTACT: Frederick Solomon703-903-3861Frederick_Solomon@FreddieMac.com Freddie Mac makes home ...
Ex-sen.  Levin, Michigan’s oldest senator, died
Ex-sen. Levin, Michigan’s oldest senator, died
First elected to the Senate in 1978, Levin represented Michigan longer than any other senator, targeting tax shelters, supporting manufacturing jobs and ...
The Crypto Daily - Movers and Shakers - April 2, 2021
9 Seattle bars temporarily close due to COVID-19
The closures come as King County is seeing a spike in COVID-19 cases because of the highly infectious delta variant. Health officials in the past week have ...
Sanofi 2021 Semi-Annual Financial Report Online Availability
Sanofi 2021 Semi-Annual Financial Report Online Availability
Sandrine GuendoulTel.: +33 (0)6 25 09 14 25MR@sanofi.com Media Relations Contacts Ashleigh KossTel: +1 (908) 205-2572Ashleigh.Koss@sanofi.com Nicolas ...
Comment: Childhood obesity is an urgent issue
Comment: Childhood obesity is an urgent issue
Here’s a link to their Commentary. Kibbe In a new GHN Commentary, Jennifer Owens of HealthMPowers and Debbie Kibbe of the Georgia Health Policy Center ...
Inside the $ 7 billion merger of Sequoia Financial and Wealthstone Advisors
Business Highlights: Powell in Economy, Google Delays Return
___ After rocket ride of growth, Robinhood heads to the market Fed’s Powell downplays delta variant’s threat to the economy WASHINGTON (AP) — The spread of ...
Israel will offer third dose of Covid-19 vaccine for people over 60 years old
Israel will offer third dose of Covid-19 vaccine for people over 60 years old
Meanwhile, Covid-19 cases in the US continue to rise. The country is now averaging 63,698 new each day, according to Johns Hopkins University — that’s a 59% ...
Why do companies use so much jargon
Why do companies use so much jargon
The third reason why managers use jargon is to establish their credentials. What makes one person fit to manage another? It is hard to identify any obvious ...
Show next
Compsmag - Latest News from tech, business and health
Logo