ATM fees are an unavoidable nuisance for many out-of-state students who use banks that do not have a branch in Auburn. That will soon be a problem of the past for clients of Chase Bank.
Chase Bank plans to open its first location in Alabama in the first floor retail space of 191 College by the end of 2019.
Pavan Reddy, the owner of 191 College, said he thinks the bank is a great addition to the area.
“We’re excited for it to get opened up and very excited about the tenants that are going in there,” Reddy said. “We think it will be great for the student community and the Auburn community as a whole.”
Reddy said he’s excited for what the opening of the branch means for students from other states.
“I know so many students that come to Auburn that bank with Chase across the country,” Reddy said. “They don’t have anywhere to go locally and have to pay ATM fees, and it’s hard to deposit checks with no place to do it.”
Reddy said he felt Chase’s decision to open a branch in Auburn speaks to the growth of the City.
“With it being the first location in the state of Alabama, I think it says a lot about the trajectory of Auburn,” Reddy said. “For such a large, national company to identify Auburn as its first branch in the entire state, it just shows you how much Auburn has grown and developed over the years.”
There are over 20 banks in the Auburn area. The City has also developed a large community of local financial institutions, and Mayor Ron Anders said they have played an active role in the development of the City.
“I would say any institution that wants to come into our market has a lot to compete with,” Anders said.
While Chase’s role in the local bank market is still unknown, Reddy said he thinks it has potential.
“With such a strong national brand and reputation, Chase will definitely serve a role here,” Reddy said. “I think, while Chase will do a lot of good here, we also have a lot of local banks who are doing their part, too. I think they will work well together.”
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