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Bank of America should look at more than the bottom line | Letter to the Editor
Earlier this week, I wrote to Bank of America CEO Bryon Moynihan to express my dismay at the bank’s plan to close its Vashon branch due to “a decline in the number of customers who do their banking in-person.” While technology has provided a variety of new options for the way we do business, it doesn’t negate the fact that a physical presence continues to be important, particularly on an island where access to a safe deposit box, or the ability to work one-on-one with real people, matters. The long-term, helpful staff at B of A’s Vashon branch now face unemployment and difficult times.
Ours is a strong community with active voices and significant resources. As mentioned in my letter to Mr. Moynihan, I believe many of us who oppose the branch’s closure will most certainly transfer their funds to other on-island institutions, such as Chase, US Bank or the Puget Sound Cooperative Credit Union. Having been a Bank of America customer for more than 30 years, I am prepared to close my accounts and hope you’ll join me by sending a clear message that we Vashonites choose to do business with organizations that measure their success not solely by the bottom line, but by meeting the needs of the community that supports them.
— Lisa S. Peyer