Chase, TCF Bank open branches in California and South Dakota

Thursday, January 26, 2012 Financial

Despite tough financial times for some banking institutions, Chase and TCF have announced plans to hire hundreds of new workers in California and South Dakota, respectively.

In South Dakota, the Minnesota-based holding company said it would open a TCF contact and operations center in Sioux Falls, the Argus Leader reports.

Mary Medem, director of workforce development for the Sioux Falls Development Foundation told the news agency that the expansion into Sioux Falls is considered a big boom for the local economy, as TCF only operates one retail location there. The new center is expected to create 200 new jobs.

"Home builders and multifamily builders are always excited about new job creation because that’s what represents population growth, it represents new dollars in the community and more decision makers ... they are wonderful and critical to economic development and also a friend to economic development of every kind," Medema added.

In California, Chase said it plans to open four to five new branches in San Diego and Riverside Counties, according to the North Country Times.

Chase, which is the banking business arm of JPMorgan Chase & Company, said it plans to open more than 80 branches and create 1,200 new jobs in the Golden State this year.