From Sara Longobardi, SEVP, Retail Banking, People’s United Bank
Your business is important to us, which is why we want to communicate a recently announced change that will impact our branch and ATM locations in Stop & Shop supermarkets in Connecticut and New York.
People’s United Bank has made the decision to exit from Stop & Shop locations. Importantly, there will be no current impact to you as our exit will not begin immediately and is anticipated to occur over several years. As additional details on the exact timing of the exit are finalized, we are committed to sharing with you well in advance.
Although the Stop & Shop relationship has provided meaningful value to the Bank and our customers over the years, customer banking preferences and retail shopping behaviors have significantly evolved. Our goal is to continually personalize the banking experience across the channels through which you may interact with us. The exit will allow us to further invest in our digital capabilities and strengthen our traditional branch network, as well as enhance the tools bankers use to tailor the customer experience, for both retail and business customers.
What will remain constant is our commitment to our relationship with you. You will continue to see many of the bankers with whom you are familiar, and once the exit is complete, in most cases you will maintain the same convenient access to a nearby traditional branch generally less than five miles away from the Stop & Shop location.
We will provide a minimum of 90 days’ notice prior to the branch closure. Once the exit is complete, we will further evaluate our presence in those regions where access to a near-by branch may be impacted. As a reminder, you can conduct many of the same transactions as you would in a branch from our mobile app and online banking including depositing checks, opening an account and applying for a loan 24 hours a day. View our how-to demos online to learn about our many online and mobile banking features. To identify nearby branch and ATM locations please visit our branch locator.
Should you have any questions related to our future exit from Stop & Shop, please do not hesitate to reach out to our dedicated customer service line at 1-877-972-2244.