Depositors and other clients of KeyBank on Tacoma’s Hilltop have been notified that their branch will close and accounts will be consolidated at the Tacoma Main office.
KeyBank spokeswoman Drez Jennings said by email that the branch had not been achieving adequate business.
“We are aware of and understand the community concern over this decision,” she stated. “This decision is the result of a long and extensive review of how the community makes use of the (branch). We also took into account there are several nearby branch offices the community can use.”
She said data have shown “an ongoing decline in customer use” at the Hilltop branch.
She noted that consumer deposits declined by 25 percent while consumer and small-business borrowing each dropped by 73 percent between 2012 and 2014.
“While customers are making less use of branches generally, the decline in (this branch) activity is higher that we see across KeyBank’s footprint,” Jennings said.
Jennings wrote that other KeyBank branches are available downtown at the 1101 Pacific Ave. Tacoma Main office at 3501 S. 19th St. and in the Proctor District at 3917 N. 26th St.
KeyBank spokeswoman Anne Foster confirmed earlier this week that KeyBank’s philanthropic efforts would continue in Hilltop. In 2014, she said, the bank donated $116,000 “to organizations located in, or primarily providing services to” the neighborhood.
Organizations benefiting from the KeyBank programs included, in part, Associated Ministries, Community Health Care, Centro Latino Ser, Tacoma Goodwill, Tacoma Urban League, Nativity House and Life Christian Academy.
The Hilltop facility will close June 12. Employees at the branch have been offered positions at other KeyBank locations.