Citing Performance and Mobile Apps, Rivermark Closes Salem Branch
Oregon’s Rivermark Community Credit Union is shuttering its lone branch in Salem, the state capital, citing the branch's lackluster performance and consumer preference for mobile and online banking.
The Salem facility, set for closing June 29, had been open for two years as the result of a merger with Oregon Territory FCU, said David Noble, head of marketing for the $550 million Rivermark in the Portland suburb of Beaverton.
“Our Salem branch simply did not perform well despite making a considerable investment in marketing and community relations,” said Noble noting the lobby traffic was slow.
What has been successful is the new emphasis on self-service mobile, online and ATM channels, Noble said.
He said Rivermark’s new mobile deposit product already has attracted 5,500 members in its first 60 days.
As for the Salem branch, Scott Burgess, Rivermark president/CEO, said, “We had optimistic expectations for the future of the branch. By closing this branch, however, Rivermark will be able to make further investments in online services and technology.”
Another factor in the closing, said Noble, was the foot traffic lost when a state agency closed a nearby office.
Noble said there are no plans to close any of Rivermark’s eight other branches in metro Portland.