THE Hume Bank is moving its branch out of Lavington Square, leaving the shopping hub without a financial institution for the first time in its 41-year history.
The office is being shifted into a site in Griffith Road facing Lavington Square near the McDonald's restaurant.
Hume's looming move follows the ANZ Bank closing its Lavington Square branch early last year and Bendigo Bank shutting its doors in Griffith Road in October.
Hume Bank chief executive Stephen Capello said several factors had prompted the switch of premises, which will see the new branch open in August.
"It's a better site, it has great street presence, great flexibility to deliver outcomes to members, it's close to our present branch at the shopping centre, it supports a local landlord and the fact that we're building a new branch means we can do that without interrupting our current branch," Mr Capello said.
He said there would be a lower rent at its new branch which is in a building that once housed the accounting business of the late Ulf Ericson, a former chairman of Hume Bank.
Mr Capello said the Lavington branch was the busiest bank outlet on the Border with 140,000 transactions processed each year, 30 per cent more than the next busiest Hume outlet.
"We were very conscious ANZ closed and this new branch really for us reinforces the role Hume plays in providing what we call a better and brighter banking service," Mr Capello said.
"This shows our customer base what we can do, we're not one of the majors, but the only bank in Albury-Wodonga opening a new branch."
Mr Capello said there had been a "lot" of clients join Hume Bank after having held accounts at the ANZ and Bendigo branches which closed.
He said a similar trend was noticed at Corowa and Culcairn when major banks shut branches in those towns that are also serviced by Hume.
Hume's presence at Lavington Square dates back to 1979 when it was a building society and the mall opened under the name Border Shoppingtown.
Meanwhile, a prominent Lavington site is vacant with a new owner or leasee being sought.
PRD Nationwide Albury agent Kate Stevens said expressions of interest were being sought with an offer to buy the Spargo family property being considered.