REPORT FROM ALDERMAN EMMA MITTS

U.S. Bank’s Nov. 16 Austin Bail Out Leaves Fewer  Neighborhood Financial Options

Saturday, October 13, 2012 Community Rally & Press Conference To Express Consumer Concerns

Banking is big business - - but apparently, according to U.S. Bank - - just not on the city’s west side in Austin. Perhaps you’ve heard the news? They are officially ‘bailing out’ on Austin - - and right before the holidays, and as of the effective date of November 16, 2012, the U.S. Bank branch at 4909 West Division will forever shut its doors to the community. 

Why? That is among the many questions I and many others are still waiting to be answered. 

On Saturday, October 13, 2012, at 12:00 noon, I joined forces with the Northwest Austin Council and the South Austin Coalition, local clergy, residents, seniors and others to oppose the upcoming scheduled November 16th closing of the Austin branch of U.S. Bank, which for a few more weeks, is located at 4909 West Division. 

When I first learned about the possibility of the closing, I immediately sprang into action to determine what could be done to avert this situation, saving jobs and needed services, at the urging of my constituents. While I was not contacted directly by the financial institution before word spread throughout the community, I stood in support of the community’s desire to retain this financial institution in the area.

U.S. Bank is the nation’s fifth largest financial institution, with over $353 billion in assets, and the closure of this facility will drastically reduce the available services for many of our most vulnerable groups - - -  especially seniors, homeowners, working  families,  as well as local businesses, churches and organizations whose accounts were held at the U.S. Bank Austin branch. 

Many strong activists and elected officials fought too hard to bring banking services to Austin over the years to just let them fade way now due to some obscure corporate policies. We must fight for our dignity. 

That’s why we march and rally, before holding a community press conference to address our concerns about the abrupt  plans to shutter this convenient banking outlet for many local seniors and home owners in the neighboring area. 

This appears to be a prime example of community disinvestment, and worse, evidently shows a major lack of respect for the customers who embraced their entry into the Austin neighborhood several years ago. 

The 37^th Ward Service Office is OPEN AND READY TO SERVE YOU during regular business hours, so feel free to call 773-745-2894 or stop by Monday-Thursday, 9:00 a.m. – 5:00 p.m., and Fridays, 9:00 a.m. – 3:00 p.m. and Saturdays, 10:00 a.m. – 12:00 noon. Thank you! 

Need a service or have a question? Contact my ward office at 773-745-2894, or send an email: emitts@cityofchicago.org.