First Chicago To Add 24 Branches in Chicago Area Dominick's Supermarkets During 1997
This will increase First Chicago's supermarket network to at least 45 locations and its overall Chicago area branch network to more than 150 by yearend.
"First Chicago continues to increase our points of customer contact. Our new supermarket branches, combined with our traditional branches and our extensive ATM network, make us even more attractive to potential customers," said Executive Vice President David P. Bolger, head of Regional Banking in Illinois. "Supermarket branches provide the convenience and longer hours that allow customers to bank where they shop."
"Our alliance links two of the premier names in Chicago," said Robert A. Mariano, President and CEO of Dominick's Finer Foods, which operates 100 stores in the Chicago area. "Consumers know both Dominick's and First Chicago as hometown companies they can trust. The y have already found it to be a winning combination in 18 stores."
The 24 new supermarket branches will include both city and suburban locations. First Chicago will open at least one branch a month, starting in April. At the end of 1996, First Chicago had 18 branches in Chicago area Dominick's stores, plus six in other supermarkets.
By the end of this year, First Chicago customers will be able to access the bank in the Chicago area through:
More than 115 traditional branches;
45 supermarket branches;
More than 750 First Chicago ATMs at more than 400 locations;
4 electronic banking facilities;
24-hour Bank-By-Phone automated telephone service (toll-free 1-888-963-4000;
Online Banking and Online Payment through Quicken, Money and BankNow software;
Sites on the Internet (http://www.fcnbd.com) and AOL (keyword: First Chicago).
Supermarket branches have become a fast-growing portion of retail banking because they provide convenience and service with substantially lower initial costs than sta nd-alone branches.
Employees of First Chicago supermarket branches help customers apply for loans and open checking and savings accounts. In addition, customers can make appointments with mortgage and investment representatives. Many First Chicago supermarket branches also have safe-deposit boxes.
During early 1997, the bank will close or consolidate five branches: in the Eagle Country Market in Elk Grove; in the Super Kmarts in Round Lake Beach and Vernon Hills; and at 307 N. Michigan and 5415 W. Devon in Chicago. There are First Chicago branches nearby the affected Chicago and Elk Grove branches.
"We continue to refine our banking network to provide excellent, convenient service to our customers in a cost-effective way," Bolger said. "We want to ensure that our locations and our services -- including ATMs and telephone and online banking -- reflect the preferences and behavior of our customers today. For example, we have built the biggest network of ATMs in the Chicago area because 80 percent of our c ustomers' transactions are conducted electronically."
First Chicago customers have unlimited free use of the bank's machines for withdrawals, deposits, transfers and balance inquiries.
The First National Bank of Chicago is a subsidiary of First Chicago NBD Corporation, the nation's 9th largest bank holding company with assets of $106.7 billion. It is the Midwest's number one provider of financial services to consumers, middle market companies and large corporate customers.