A Wells Fargo official says that technology played a role in their decision to close a branch in Kodiak.
Aryne Randall, a District Manager for Wells Fargo based out of Wasilla, who manages the Kodiak branches, says that the Mill Bay Road location is closing due to many factors, but one major one is that more people are using online banking.
“I don’t feel it represents, the consolidation, represents anything to do with Kodiak’s economy, said Randall. “It, to me, it is much more the proximity of the branches – I believe they are just about two and half miles apart. And with more and more people using these digital capabilities that we have to take care of their banking needs, more transactions are actually happening outside of the branch.”
There are currently two Wells Fargo branches in Kodiak’s city limits.
A letter was recently sent to customers of the Mill Bay Road branch informing them that operations will officially cease at noon on August 15th.
Randall says that no employees will lose their jobs.
“The entire team, not only can they keep their jobs when they go downtown [where the other Wells Fargo branch is located], they were also given other options,” said Randall.
She adds that employees were offered transfers to other branches off island.
Kodiak Island Wells Fargo clients will be able to access the services that in-person banking provides at Kodiak’s downtown location after the Mill Bay location closes.