FDIC: CU/Bank Branches Not Disappearing Soon Posted by AVCU on 10:51 AM

A new report by the Federal Deposit Insurance Corporation released on Thursday says that physical branch banking continues to have a strong presence despite the advent of technologies allowing customers to access services remotely.

The FDIC study says that although the overall number of branches has fallen 4.8% since peaking in 2009, the per-capita amount of offices still remains higher than any time before 1977, when non-branch technologies were introduced. In 2014, there were 2.9 bank br
anches per 10,000 people, higher than the 2.2 figure recorded in 1970. While the population has grown 56% during that time span, the rate of branch growth over that period has more than doubled, increasing by 109%.

Read more detail about the study, and download the complete FDIC report.