By Katy Savage, Standard Staff
Due to low store transaction volumes and traffic, the two TD Bank locations in Woodstock will consolidate into one in early November.
TD Bank recently announced to customers it is closing its location at 429 Woodstock Rd. on Nov. 7 and moving to the existing 21 Elm St. location.
“Surveys of customer traffic patterns combined with the profound increase in online and mobile services, coupled with the fact that we have two stores within a mile of one another, have brought about this decision,” said TD Bank Media Relations Manager Martha Gaston.
The Woodstock Road site has a large free parking lot and a drive-thru — unlike the Elm Street location.
“It’s a little counter-intuitive,” said Woodstock Home and Hardware owner Larry Perry, whose business is across from the closing TD Bank location.
TD Bank Manager and Assistant Vice President Denel McIntire, who manages both Woodstock stores, said additional free parking in the rear of the Elm Street site would be made available for the convenience of bank customers.
McIntire couldn’t comment directly on the change but said closing the one site “makes sense.”
Gatson said the four full-time employees at the Elm Street site will be able to apply to other positions within TD Bank.
“In no way is this a reflection on our employees,” Gatson said.
Employees at the closing TD Bank location also declined to comment.
There are several banks on Woodstock Road that offer an ATM machine.
Gatson wouldn’t say what TD Bank’s plans are for the vacant building, but the possibility of an empty storefront isn’t pleasing to neighboring business owners.
“It’s never good when a commercial space becomes vacant,” Perry said, adding: “Any business that generates traffic in the vicinity of our hardware store increases the potential for business to nearby businesses.”
Stores have come and gone in the village over the last two years — with some storefronts still vacant. The east end — where the Woodstock Road site is — had begun a mini-revitalization following the news of a possibly relocated snow dump and the opening of the popular Worthy Kitchen restaurant.
“It’s not good to have an empty building anywhere,” said Worthy Kitchen restaurant owner Jason Merrill. “It’s kind of sad.”
Part of TD Bank’s decision to close has to do with its overall commitment to create a better experience for customers, which could mean investing in the digital side of business to strengthen customer service, according to officials.
Paul Bousquet contributed to this report.
This article first appeared in the August 7, 2014 edition of the Vermont Standard.