By ZEINAB NAJM
DEARBORN — Comerica Bank will close its historical Michigan-Neckel branch at 13650 Michigan Ave., and merge it with its Michigan-American Road branch.
The announcement comes as part of Comerica’s Growth in Efficiency and Revenue initiative which the company announced July 19.
The building began as the second branch bank of Manufacturers Bank in 1933. Comerica and Manufacturers banks merged in 1992.
“Management has been conducting a comprehensive review and analysis of our banking center network to assist in the goal of appropriately reducing our overall real estate footprint,” Comerica Bank Cooperate Communications Vice President Kathleen Pitton said.
The change will be effective Nov. 18, leaving the Michigan-Neckel building up for sale by the bank, which owns the property.
“The consolidation and other efficiency and revenue initiatives we are undertaking are intended to strengthen our competitive position, and ensure that we remain a strong partner and trusted advisor to our customers, for the ultimate benefit of our shareholders,” Pitton said.
The Michigan-American Road branch, 16150 Michigan Ave., will be able to accommodate any additional customers as a result of the Michigan-Neckel branch closing.
“Our Warren-Calhoun banking center is also nearby and customers can continue to bank with us at the office they prefer, as well as online through web banking and web bill pay, through their smart phones with mobile banking, by telephone or by ATM,” Pitton said.
Employees from the Michigan-Neckel branch will have the opportunity to seek other positions with Comerica Bank.
“If those impacted employees are unable to find another position at Comerica, they will be eligible for severance packages and outplacement assistance,” Pitton said. “With respect to our colleagues who are affected, we are deeply committed to helping them through this transition and will do so with the utmost dignity and respect.”
(Zeinab Najm can be reached at [email protected].)