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Washington Mutual steps back | Chicago Tribune

 More on WaMu, specifically Chicago.  They expanded in Chicago only 3 years ago.

Washington Mutual Inc., which moved aggressively into the Chicago market in recent years, is now closing branches in the area. The Seattle-based bank plans to close 28 of its 172 Chicago-area branches, mainly in Lake and McHenry Counties as well as in other outlying suburbs. An estimated 168 jobs could be affected by the closures.

WaMu’s deposit market share in the Chicago area is 0.3 percent, the same as Rockford-based Amcore Bank, which has only about two dozen Chicago-area branches, and Elgin-based EFS Bank, which has about 10.

The retrenchment in the Chicago area is part of a broader consolidation under way by the company, which is in the process of closing 80 poor-performing stores nationwide.

Source: Washington Mutual steps back | Chicago Tribune

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2 thoughts on “Washington Mutual steps back | Chicago Tribune”

  1. WAMU’s ad campaign which attempts to portray them as “customer friendly” is really misleading. Sure, they automatically give you one overdraft fee “free” per year – but a more traditional bank will give you one per MONTH if you call and ask because they want to keep you as a customer. I’m glad they’re getting out of our market – yuck.

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