WSFS Bank branch in Wyoming to close in December

WYOMING — Customers of the WSFS Bank in Wyoming received a surprise when they got a letter dated Nov. 1.

The letter informed them that the long-time bank’s Wyoming branch will be closing for good on Dec. 28.

The letter, signed by Shelly R. Kavanagh, vice president and regional manager for WSFS, stated: “We want to inform you that we have made the difficult decision to consolidate our Wyoming banking office into our Camden banking office, which is less than two miles south of the Wyoming location. Our Camden banking office is located at 4566 South DuPont Highway.

“We recognize this building and property are important to Wyoming and that residents use the adjacent parking lot. To reinforce our commitment to your community, we have decided to donate the building and the adjacent parking lot to the town and people of Wyoming.”

WSFS said this will be the second property donation the bank has made to benefit the local community. In 2015, WSFS donated a house to the Central Delaware Habitat for Humanity that sits on an adjacent lot to the Wyoming branch.

The house, which was renovated this year, serves as a temporary home for AmeriCorps volunteers during their service in the state of Delaware.

“We thought it was an important (thing) to do so and the right thing to do,” said Jimmy A. Hernandez, vice president/manager of communication for WSFS, of the donation of the bank’s building and parking lot to the town of Wyoming.

The letter to the bank’s customers went on to say, “The Wyoming banking office located at 120 W. Camden-Wyoming Avenue will close on Dec. 28, 2018. If you have a safe deposit box at this office you will soon receive a letter detailing how you may transfer your items to one of our other WSFS banking offices.”

Mr. Hernandez said the bank’s Wyoming location will close due to a slowdown in customers.

“WSFS has made the difficult decision to consolidate our Wyoming banking office into our Camden location,” Mr. Hernandez said. “The Wyoming branch will close on December 28, 2018, due to the general decrease in foot traffic at this particular office.

“However, we will continue to operate a full-service, drive-thru (24-hour) ATM at this location.”

Back in 2014, Wilmington-based WSFS Financial Corp. agreed to acquire First Wyoming Financial Corp., a privately-held bank with almost $308 million in assets based in Kent County for $64 million.

It was a controversial move among The First National Bank of Wyoming’s customers at the time. After all, the bank was headquartered in the town itself and had opened in 1909, serving the town and central Delaware for more than a century.

First National Bank of Wyoming, which had fostered a reputation as a well-managed financial institution, merged with WSFS due to the costs and complexities of heightened regulation after the 2008-’09 financial crisis.

Banks are also now facing competition from people who do much of their banking on their cell phones, computers and other devices, as well as Automated Teller Machines. WSFS has the largest ATM network in Delaware.

The letter sent out by WSFS to its customers to inform them of its Wyoming branch’s impending closing finished by saying, “Our Camden team is looking forward to meeting you and will provide you with the full range of service and amenities you’ve come to expect from WSFS, delivered by Associates you know and trust.

“We recognize this closing is a disruption for you and we would like to ease this transition in any way possible. If you have any questions about this change, please visit the Wyoming or Camden bank offices, or call us at 1-888-WSFSBANK.”

 

Delaware State News staff writer Mike Finney can be reached at mfinney@newszap.com.

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