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Fifty-four 300-square-foot Chevy Chase Bank mini-branches within Giant-Landover locations throughout the D.C. area are closing following the expiration of a 10-year contract, according to a published account.
The closures are slated to begin next month, Chevy Chase Bank e.v.p. for retail banking W. Scott McSween told the Washington Post. McSween noted that "our customer preferences indicate that we should spend more resources in traditional branches, online banking, and ATMs. We would like to keep these supermarket branches open, but we do not have an infinite amount of money to invest."
The Bethesda, Md.-based bank is talks with Giant to keep ATMs in the stores. Chevy Chase also has ATMs at Harris Teeter locations.
Meanwhile, the grocer is seeking another bank. "We are looking forward to transitioning to another banking partner," Giant spokesman Jamie Miller told the newspaper. "We have been having discussions with other banks."
Bank employees who work at the mini-branches – each one has about four – will be reassigned, according to McSween.
Landover, Md.-based Giant Food, LLC operates 183 supermarkets in Virginia, Maryland, Delaware, and Washington, D.C. and employs about 21,000.