Chase Bank plans to open a new branch in Isla Vista on the corner of Embarcadero Del Norte and Pardall Road by mid- to late September.
The branch will make Chase the only full-service bank in Isla Vista, which has lacked such banks since the Bank of America was burned down by student riots in 1970 — down the street from the new Chase at what is now Embarcadero Hall.
The branch will be located in the 1,700-square-foot parcel formerly occupied by Isla Vista Surf Co., which closed in March 2011. The building is being fully remodeled to accommodate the new bank.
Branch manager Bobby Messenger said the bank has concluded its hiring process and will have eight employees staff the new location.
He said the fact that Isla Vista has been without a full-service bank for so long makes it a great opportunity for Chase to expand into an untapped market.
“Isla Vista is a highly populated area and there’s a lot of students who live there,” Messenger said. “A lot of students have to use the ATMs and they accumulate a lot of fees.”
Messenger said the new branch will offer state-of-the-art self-service banking machines that only three other Chase locations in the state have. The self-service machines allow customers to make almost any transaction that they would normally make with the teller on a touchpad screen that dispenses any amount of cash and is capable of more services than an ATM.
This will be the fifth Chase branch in the Santa Barbara area, after one location on Calle Real in Goleta and three on State Street.
“Chase is a large bank that is constantly growing,” Messenger said, “and Isla Vista presented a great opportunity for us to expand our services in the area.”