Taking care of many financial matters used to mean going to the bank, but in New Jersey, that is no longer the case.

After the pandemic, many bank branches closed and a lot of them have never reopened. According to Michael Affuso, the president and CEO of the New Jersey Bankers Association, this trend actually started before the COVID health emergency because most customers were becoming increasingly interested in virtual banking.

He said customer traffic in brick-and-mortar banks has dropped significantly because there’s now an easier way to do things.

“Once customers learned that they can use smartphones, use direct deposits, even business customers who use remote deposit capture, I don’t they’re really going to go back to the branch,” he said.

GettyImages anyaberkut
GettyImages anyaberkut

No need to physically show up

He said most customers can do just about anything they need to online, including depositing checks and looking at their balance.

Affuso noted in some instances, with small business customers or somebody that’s part of the gig economy with various income sources, they may still need to go into a branch for a loan application.

Get our free mobile app

He said in some instances seniors may feel more comfortable going into a branch to take care of business, but “I don’t discount the ability of all ages to use either a computer or a smartphone.”

Happy businesswoman hr manager handshake hire candidate selling insurance services

He stressed banks are capitalist organizations and the only way they make money is by serving their customers.

“The banking industry was there for you during the pandemic and we’ll continue to be there during the future of economic uncertainty.”

Most affordable places to live in New Jersey

SmartAsset released a study analyzing the most affordable places to live in New Jersey. The eighth annual study weighed several factors, including taxes, homeowners’ insurance, and home costs relative to the local median income.

Even more cutest pets in New Jersey — 2023

We asked for the cutest pets — and we got 'em! Here are some more of all the furry, scaly, feathery and wrinkly friends in the Garden State. We've announced our winner here.

More From WPG Talk Radio 95.5 FM