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New Albertson's Inc. has inked a multi-year deal with TCF National Bank for the grocery company's Jewel-Osco banner.
Through the deal, TCF locations in Jewel-Osco stores will undergo a series of technology enhancements in an effort to streamline transactions, an improved layout and the addition of ATMs in the parking lots of select locations.
Additionally, TCF will close 33 retail branches inside Jewel-Osco stores by the end of May 2016 and in their place install ATMs that feature advanced transaction capabilities.
"Our retail branches are still an important component of our service experience and our new branch concept supports our ability to strengthen relationships with our customers," said Michael S. Jones, EVP of consumer banking for TCF. "In choosing to replace some branch locations with advanced ATMs, we are able to redirect resources to fund our customer service initiatives while preserving convenient access to basic banking services."
More recently, TCF and Jewel-Osco partnered to develop new bank branch concepts at stores in Darien and Bensenville. In November, TCF announced the addition of 71 new cash-only ATMs located in select Target stores throughout Chicagoland.
Once the retail branch changes are fully implemented, TCF Bank will have 148 locations throughout the Chicago region, southeast Wisconsin and northwest Indiana, including 85 located inside Jewel-Osco stores.