Bradshaw bank closing, businesses say will impact local economy - Beckley, Bluefield & Lewisburg News, Weather, Sports

Bradshaw bank closing, businesses say will impact local economy

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BRADSHAW -

One McDowell County bank is closing it's doors and local businesses aren't too happy about it. 59News Reporter Lauren Hensley visited Bradshaw to find out how the community is reacting.

 "It's just a shame," Lawrence Crigger Mayor of Bradshaw said.  "I think they just jumped hastily to a decision. They didn't really think it through and they need a heart for some of these people around here."

As the Mayor of the town, Crigger has been working to make Bradshaw a desirable location for businesses to set-up shop, not move out. Pioneer Community Bank's announcement to close is coming just as plans are being finalized for a Family Dollar to be built in town.

(Read the letters sent by Pioneer Bank here)

Customers were notified in a letter stating, "…. the office in Bradshaw has increasingly diminished in revenue... It has become necessary to close this branch office."

 According to the Mayor that means business owners will have to travel to Iaeger, War or Grundy.

"It is going to tie their employee up for maybe an hour, hour and a half to do regular business and if they have to do it everyday that is going to hurt the business and create hardships," Crigger said.

Teresa Foley has owned the local florist shop for 22 years agrees with the Mayor saying this is just bad for business.

"It is going to devastate it. I can't make me deposits without leaving my business. I am only self-employed; only 1 employer it is going to make a very bad inconvenience for me to travel to the other towns to do my banking," Foley said.

59News stopped by Foley's store with a stop watch and car keys to see how long it would take to get from her shop to her bank.  Foley said if she were to continue baking with Pioneer she would make the drive to Iaeger for her banking needs.  So 59News hopped into the car to find out just how long it would take to get from Bradshaw to Iaeger

It took our news crews close 18 minutes to make the trip to the branch in Iaeger. Foley said she would like to continue baking with Pioneer. She said a reasonable solution would be for the bank to be open part time. If the bank is not willing to do that, Foley said she would like to see another bank come to town.

Mayor Crigger is trying to find a solution.  He tells 59News he has made several calls to other banks in hopes they would move in when this one is moving out.

59News did try to contact President of Pioneer Bank, Jim Sizemore.  59News was told he was out of office for the remainder of the day.