PNC Closing Branch Inside Stop & Shop In Point Pleasant

POINT PLEASANT, NJ — Point Pleasant residents who bank with PNC will have to use another nearby branch starting in mid-January, as the branch inside Stop & Shop will be closing.

The closure of the branch at the Stop & Shop at 3230 Bridge Ave. as of Jan. 20 has caused consternation among a number of residents, particularly among seniors who rely on the convenience of having their banking and grocery shopping at one site.

PNC, based in Pittsburgh, Pennsylvania, announced its intention in July to close 135 in-store branches, including 109 Stop & Shop sites, the Pittsburgh Business Times reported.

"After a careful review of our business model, PNC’s strategic goals and the potential impact to our customers, the decision was made to close approximately 127 of our Giant Foods and Stop & Shop in-store branches, including in Washington D.C., Maryland, New Jersey, and Delaware," said Jason Beyersdorfer, regional communications manager for PNC. The remaining eight stores are in Pennsylvania, he said.

"The decision not to renew was made by PNC. Stop & Shop has valued our partnership with PNC Bank over the past 19 years," said Stefanie Shuman, external communications manager for the grocery store chain.

The nearest PNC branches to Point Pleasant are free-standing banks at 1040 Route 70 in Brick and at 107 Main St. in Manasquan. There is ATM access for no-fee cash withdrawals at a number of spots, including Wawas and Quick Cheks.

"PNC recognizes that branches continue to play an important role for many customers when it comes to conducting certain transactions and holding important in-person financial conversations with our banking experts," Beyersdorfer said.

The company believes it can meet those needs with the nearby branches and with mobile banking access, which has grown substantially in the last few years. PNC plans to convert 60 percent of its financial network to an automated model by the end of 2026, VMSD.com reported.

"We remain committed to delivering on our purpose to move all forward financially, and we are confident that we can meet or exceed our customers’ needs at nearby branch locations, alongside other available methods of banking," Beyersdorfer said.

For older residents, however, online and mobile banking can be difficult to navigate.

Ocean County Commissioner Joseph Vicari raised that concern in late January 2022 with New Jersey Banking and Insurance Commissioner Marlene Caride, in response to a number of bank branch closures in Ocean County with the trend toward mobile banking.

Nearly 50 bank branches in Ocean County have closed in recent years, Ocean County officials said, citing state statistics, which is more than 25 percent of the existing branches.

Vicari said that with an aging senior population of more than 200,000 people, local bank branches are more important than ever.

"Senior citizens, especially our oldest adults, often have problems with technology," Vicari said. "They may have motor skills and cognitive issues that make using a computer and smartphone difficult." And bank tellers can be a first line of defense in identifying fraud, officials said.

"Community banks should serve the community," he said. "We need age-friendly bank branches in Ocean County."

Have a comment, a question or a news tip? Email karen.wall@patch.com