CASCO – Casco’s only bank, the TD Bank branch located in Casco Village, is set to close at the end of April.

The branch closure is part of a restructuring plan by the 13-state bank chain.

“After careful consideration – and as a part of our normal business practices – we have made the decision to consolidate 24 of our more than 1,000 stores throughout our footprint. We do still plan to open 32 new locations in 2010 as we continue to grow our franchise,” said TD Bank spokeswoman Rebecca Acevedo.

Acevedo went on to say, “TD Bank made a business decision to consolidate the Casco branch based on a combination of factors, including the opportunity to combine operations and improve overall efficiency. We are committed to creating a smooth transition for our customers and understand their concerns.”

To handle the influx of Casco’s customers, the North Windham TD Bank branch, located near the intersection of routes 115 and 302, is increasing its hours of operation.

“The receiving store is in a prime location about 10 or so miles away – offering both the space and the facilities needed to serve our customers effectively. This store has extended hours, Monday to Friday, 8 a.m. to 6 p.m., and 8 a.m. to 3 p.m. on Saturday. The store will also be getting a Penny Arcade machine, TD Bank’s free coin counting machine, to help customers count their change for free,” Acevedo said.

The closure has upset many who use the bank on a regular basis, appreciate its in-town location, and lament having to drive to Oxford, Naples or North Windham to do their banking or get cash from the ATM.

“It’s ridiculous,” said longtime Casco resident Bryant Berry. “The only trouble with the bank is location, location, location. It’s tucked out back, and you have to drive around to get to it.”

“It’s always been very convenient,” said Lucy Jackson, temporary postmaster at the nearby Casco post office. “I get my change there. There’s no other bank in Casco, so we’re sad. I don’t know what we’re going to do.”

The Casco town office also does its banking at the TD Bank in the village. Casco Town Manager David Morton said the town makes deposits on a daily basis.

“It’s been very convenient having the bank right here, we’ll have to adjust our operation,” Morton said, adding that the town has yet to decide which bank it will use going forward.

“It’s a basic service we all really appreciated and will miss, but banks are shrinking as everything else is, in an attempt to economize,” Morton said.

Oxford Bank first moved to the location in Casco Village in April of 1987, Acevedo said. In 1988, Oxford Bank became a division of People’s Heritage Financial Group. Then, in 2002, People’s was incorporated as a division of Banknorth, she said. On March 1, 2005, the name changed again to TD Banknorth. Late last year, TD Banknorth became TD Bank.

But while the name of the bank changed frequently, the location remained fixed, until now.

Jerry Kinney, who works in the food pantry and on the mission committee at Casco Village Church across the street, lives on nearby Leach Hill Road, doesn’t own a car, and has appreciated the bank’s convenience.

“I hope it doesn’t close because I use it. I have a savings account there,” Kinney said. “I think they need the bank there.”

Wayne Lewis, owner of Casco AG, a variety store and small grocery just up the street, says the bank’s closure will seriously impact him and the business he’s owned since 1999, especially in the busy summer months.

“That’s our bank. We go there sometimes four times a day, whether it’s a deposit or to get change. Now they say we’ll have to go to North Windham, which I can tell you won’t be good in the summer. I guess you could say we’re spoiled with having it so close,” Lewis said.

Lewis said the nearest bank is at least 10 miles in any direction, which will consume his employees’ time. And with traffic heavy in the summer on Route 302, he said the store will have to learn to adjust to the inconvenience.

“We’re looking around at other banks, so we’ll see what happens. But this town more than quadruples in the summer, and you hear horror stories about traffic,” Lewis said. “So, I have a feeling we might look at a bank in Oxford just because it’s a quieter drive that way on Route 121. Traffic in North Windham is horrible in the summertime.”

Another village anchor, the Casco Village Library, which abuts TD Bank, could also be affected with the bank’s closure. Library Director Carolyn Paradise said a “lot of people go to the bank and then come into the library,” so she hopes the loss of the bank doesn’t mean fewer patrons for the library.

“There are certainly a lot of people complaining about it closing. We’re kind of worried, just because we hope it doesn’t decrease our traffic, but with the rec building opening back up next door, hopefully that won’t be the case,” Paradise said referring to the newly renovated Casco Community Center.

TD Bank customer and Casco resident Robin Leavitt said the bank should retain its ATM machine so there is at least a convenient source of cash in the village.

“I do frequent this branch quite a bit, and now I guess I’ll have to make a special trip when I need to get to the bank,” Leavitt said last week. “You’d think they could at least keep the ATM machine in place, especially for summer events such as Casco Days.”

Leavitt owns a small photography business and, like the other business operators in town, laments the loss of a longtime Casco business.

“It’s a great little village,” Leavitt said. “We have the church, karate, a fitness center, a huge rec center, so it’s sad to see (the bank) go because we could stand to have more businesses coming in, rather than leaving.”

Casco’s only bank, the TD Bank branch located in Casco Village, is set to close at the end of April. (Staff photo by John Balentine)