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Belmont Savings Bank to close Cushing Square branch

Posted by Jaclyn Reiss  October 17, 2013 01:15 PM

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Belmont Savings Bank officials announced this week that they will close the bank’s Cushing Square location at 78 Trapelo Rd. on Jan. 18, 2014, citing its proximity to two other nearby branches.

“The decision to close the Cushing Square branch was a practical one, given its close proximity to two other full service Belmont Savings Bank branches,” said Robert Mahoney, president and CEO, in a statement.

The bank said it expects no disruption in service and that all accounts will be automatically transferred to the 277 Trapelo Rd. branch located half a mile away.

All Cushing Square employees will remain with the bank, but will be reassigned to different neighboring locations, officials said.

The Cushing Square closing comes after Belmont Savings opened full-service branches in Shaw’s Supermarkets in Cambridge and Newton earlier this year.

The new Star Market branch in Cambridge, located at 669 Mount Auburn St., is 1 1/2 miles from the branch closing at 78 Trapelo Rd., officials said.

“This change will allow us to continue to offer great service, competitive products and pursue our growth strategy which includes new markets,” Mahoney said.

Customers with questions regarding the transition should contact Nancy Sarris, the retail banking senior vice president, at 617-484-6700.

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Jaclyn Reiss can be reached at jaclyn.reiss@globe.com

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