Branch banking

With coronavirus cases on the rise, Hoosier Hills CU in Bedford, Ind., has chosen to temporarily restrict access to its facilities. Observers say other institutions are likely to follow suit eventually, whether they want to or not.

The deal will expand the credit union's reach into western Michigan at a time when a growing number of banks are trimming their networks.

Foreign banks for years have been using technology that folds several communication and information-sharing capabilities into one platform. Now Citigroup and others here are showing interest because of the growing importance of digital in the pandemic.

The Connecticut company, which began reviewing its operations in January, said the effort gained momentum when the coronavirus pandemic hit.

The company will close nine branches over the next three months.

The company, which shuttered six locations in September, plans to close 14 more branches by the end of this year.

The company will close branches and cut jobs, with plans to reinvest some of the savings into digital enhancements.

The Cleveland company will exit indirect auto lending and close branches so it can devote more resources to mortgages, student loans and other relationship-driven, digital-friendly businesses.

The company will close eight locations, noting that customers have been quick to adopt digital channels during the coronavirus pandemic.

Amid the disruption of the coronavirus pandemic, many companies are taking a chance on innovative new technologies to keep their customers engaged.