Univest Plans Affect Eight of 50+ Offices by June

SOUDERTON PA – Univest Bank and Trust, which operates branches in Collegeville, Schwenksville, East Greenville, Skippack and Harleysville, plans to close or relocate eight of its financial centers representing a fifth of its locations. The move should save $2.4 million annually, and reflects customer demand for more digital banking features as “required functionality,” the company’s president and CEO said.

Four branches will close Jan. 29; the rest will close June 30, according to a report in American Banker. Locations targeted for closing were not identified in its article.

Univest said it operates more than 50 offices in southeastern Pennsylvania, as well as in New Jersey and Maryland. Transactions at its financial centers reportedly declined 21 percent in the last year. Slightly more than 40 percent of its service center customer contacts occur through its chat function, it added.

Archive photo from The Post