Updated: 12/11/2013 12:07 PM
Created: 12/11/2013 11:51 AM KSTP.com
By: Jennie Olson
TCF Financial Corp. announced Wednesday that it will be closing its downtown Minneapolis branch on Marquette Avenue along with 37 Chicago-area branches.
The Wayzata-based company says the banks will be consolidated into other nearby locations, a decision that was made after reviewing its branch portfolio and growth initiatives.
Company leaders say the changes will support investments in online and mobile banking platforms, new products and services, and more ATM locations – including the addition of 52 new ATM machines at Chicago Transit Authority ‘L’ stations.
The branches will be closed by the end of March 2014 and are inside Jewel-Osco grocery stores. Vice Chairman Thomas F. Jasper said in a statement that they expect to retain many of the employees impacted by the consolidations.
TCF Financial Corp. will continue to operate in 118 Jewel-Osco grocery stores in the Chicago area. The company has nearly 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota.