From The Credit Union Times:
The debate about the future of branches may continue to rage, but one fact is coming into sharp focus: People just are not going into branches anymore, at least they are not transacting. Read more
... Another, intriguing factoid from the report: “The ratio of population to branches has declined from 9,340 in 1970 to 3,683 in 2008. This staggering metric is a result from a nearly 300% growth in the number of branches while the population growth was nearly half of that.”
The study suggests that the increase of alternative banking channels – such as mobile banking, mobile wallets and video tellers – is the most likely cause for the drop in teller transaction volumes. Institutions also have overbuilt branches.