Main street loses another 'family' bank

This branch of Wells Fargo Bank in Craigmont will close its doors in August.

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Story Published: Apr 29, 2009 at 10:54 PM PDT

Story Updated: Apr 30, 2009 at 9:10 AM PDT

By Matt Loveless

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CRAIGMONT -Banks are merging, changing names, and disappearing altogether amidst the economic tailspin. So what happens when an entire town loses their only banking option? Residents in and around Craigmont said: Good question.

"It's like family, you go in, they take care of you," said Winchester Resident Stephen Bly. "You feel like the bank is on your side."

A sentiment shared by 20 Camas Prairie residents Wednesday as the end of their banking days in Craigmont approaches. Craigmont's Wells Fargo branch will close it's doors on August 14th. Company brass in Boise said the building needs a remodel. But it was ultimately a business decision, according to Wells Fargo Communications Specialist Amy McDevitt.

As the small-town branch no longer fits into the bottom line, residents in the town of just over 500 are trying to figure out what's next.

"Most of us are not going to bank with Wells Fargo if they close this," said Winchester Resident Steve McLeod. "Most of us will find something else. Credit unions, some other bank, because I'm not going to continue giving them my business."

Bly has banked in Craigmont since 1981, before it was a Wells Fargo branch.

"We stop at the grocery store," said Bly. "We stop to get gas over here. We use the other businesses in Craigmont. Now we're not going to be coming to the bank, so for us, we'll change and have to use the grocery store in Lewiston and other places."

Residents are angry about a newspaper quote, claiming "Customer patterns show...they prefer other Wells Fargo locations."

McDevitt said the company did not consult residents, reiterating it was a business decision.

Those staying with Wells Fargo will be forced to travel 16 miles to Cottonwood, 31 miles to Grangeville, or 43 miles to Lewiston. Bly said it's the personal touch of his small-town bank he'll miss most.

"It's interesting to me the symbol for Wells Fargo is the stagecoach in the rural west, and they're closing the branches in the rural west," said Bly. "I presume they're going to change the logo to something that fits big city banking."

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