This year has challenged businesses to rethink how they operate. Sunrise Banks is no exception.
We recently announced that the bank will be permanently closing its Vandalia and Arcade branch locations on March 15, 2021. This was a difficult decision and one we didn’t take lightly. We’ve developed strong relationships with customers at both locations over the years and will continue doing all we can to support these communities without a branch presence.
While Arcade and Vandalia customers have already been notified of these changes, we want to make sure we’re as communicative as possible in outlining what the closures mean and how you may be affected.
Below is a list of questions and answers we hope will be helpful for customers. If you have any additional questions about the branch closures, don’t hesitate to contact us.
When are the branches closing?
- On March 15, 2021, Sunrise Banks, National Association, will permanently close its Arcade branch located at 1351 Arcade Street, St. Paul, MN 55106.
- On March 15, 2021, Sunrise Banks, National Association, will permanently close its Vandalia branch located at 2171 University Avenue West, St. Paul, MN 55114.
Why are they closing?
2020 has challenged businesses to rethink how they operate, and Sunrise is no exception. Adoption of digital banking services, among other things, has required some difficult decisions regarding how we best serve our customers.
While we may be closing the physical locations, we are actively exploring ways to retain a presence in the communities we serve.
Will banking services still be available for Arcade and Vandalia customers?
Yes.
For Arcade branch customers: All accounts currently maintained at Arcade will be transferred to our University branch at 200 University Avenue West, St. Paul, MN 55103. Customer accounts will be transferred automatically to the branch. No action from customers will be necessary.
For Vandalia branch customers: All accounts currently maintained at Vandalia will be transferred to our Como branch at 2300 Como Avenue, St. Paul, MN 55108. Customer accounts will be transferred automatically to the branch. No action from customers will be necessary.
In addition, those who have banked at Arcade and Vandalia can continue to access services at our four existing branch locations:
* 200 University Avenue West
St. Paul, MN 55103
* 2300 Como Avenue
St. Paul, MN 55108
* 525 Washington Avenue North Minneapolis, MN 55401
* 2100 Blaisdell Avenue South
Minneapolis, MN 55404
What happens if I don’t close my Safe Deposit Box?
As of March 15th, 2021, we will need to drill, document, and place into retention all boxes not closed out. The contents will then be sent to the Minnesota State Unclaimed Property Division.
How can I close my Safe Deposit Box?
Customers who want to close their Safe Deposit Box should reach out to Jeanne Leibel or Chua Lee to set up an appointment to close their Safe Deposit Box. Jeanne and Chua can be contacted at our main phone number (651) 265-5600 or on our website.
Will Arcade’s ATM remain open?
Arcade’s ATM machine will stop working on March 15, 2021; from now until then, customers will still be able to use the ATM to complete transactions. Our Vandalia branch does not have an ATM.
Our night drop at both locations will continue to be monitored until March 15, 2021, as well.
Does this mean the bank is in financial trouble?
No, Sunrise Banks remains very well capitalized and poised for growth into the future with our partners and customers.