TCF closing downtown Minneapolis branch, 37 Chicago branches

Author:
Publish date:

TCF Financial Corp. is taking an aggressive move to streamline its Illinois-based operations.

The Business Journal reported that the Wayzata-based company announced what it called a "realignment." TCF will shutter 37 of its Chicago-area bank branches located inside Jewel-Osco grocery stores by March. The move will slice between 150 and 180 jobs in Illinois. The bank is encouraging those employees to apply for positions at other bank outlets; TCF will keep 118 other branches in Jewel-Osco stores open.

NBC Chicago added that TCF will boost its presence at Chicago Transit Authority "L" train stations with the addition of 52 new ATM machines.

TCF will also a longtime downtown Minneapolis branch, but no job losses will result. The bank will fold its TCF Tower branch, at 801 Marquette Ave. S., into its IDS Center skyway branch, which will have increased services.

In a press release, TCF Bank's parent company said the moves followed a review of its branch portfolio and growth initiatives like online and mobile services.

The company has nearly 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota.

Earlier this year, TCF was named as the number one in a ranking involving complaints according to a consumer group.

Next Up

Related