Citizens Bank Closing Star Market Branch On Trapelo Road In January ’25

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Photo: The Citizens Bank branch inside the Star Market located at 535 Trapelo Rd.

For the past two decades, it appeared that banks couldn’t open enough branches in Belmont, so much so that residents and town officials worried that the storefront under renovation would soon be scooped by yet another financial institution was coming to the Town of Homes.

That’s not the case in 2024.

This week, Citizens Financial Group, Inc., the parent company of retail banking giant Citizens Bank, announced it will be closing its bank branch located in Star Market at 535 Trapelo Rd., one of 15 branches shutting down in the next months.

“We’ve been on a journey at Citizens to evolve how our customers bank with us, and we continually review customer patterns to evolve and adjust branch strategy across our network,” the bank said in a press release.

Citizens Bank is the second bank this year to announce it is closing a Belmont branch office. This summer, TD Bank shut its brink and mortar operation adjacent to the Belmont Fire Department Headquarters at 307 Trapelo Rd.

The closures come as banks turn away from the traditional retail banking structure of tellers and loan officers and towards on-line operations.

Citizens Bank Seeking Non-Profit Partners in Supporting Financial Literacy

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As part of an ongoing commitment to programs that give people the confidence and tools they need to budget, save, invest and be fiscally healthy, Citizens Bank is now accepting applications from nonprofits for financial literacy programs that teach good financial practices.

Through Jan. 30, organizations throughout the bank’s 11-state footprint are invited to submit an application for up to $50,000 in funding as part of the bank’s Citizens Helping Citizens Manage Money program. Eligible financial literacy activities include:

  • Basics of banking and asset building
  • Budgeting
  • Homeownership counseling
  • Foreclosure prevention
  • Credit management and repair programs
  • Financial management for small businesses

In 2014, Citizens awarded 108 nonprofit organizations more than $1.7 million in contributions through the Citizens Helping Citizens Manage Money financial literacy initiative. In addition to providing funding, Citizens Financial Group colleagues facilitated financial literacy workshops and the program included a social media initiative to celebrate “Money Mentors,” and an online financial literacy resource center dedicated to encouraging healthy financial habits.

To receive consideration for funding, eligible nonprofits in the communities served by Citizens Bank and Charter One should submit an online application by Jan. 30. Recipients will be announced in March 2015. For more information on nonprofit programs and services that may qualify for funding, or how to submit an application, please visit www.cybergrants.com/citizens/chcmanagemoney.

Citizens Financial Group Inc. is one of the nation’s oldest and largest financial institutions, with $131.3 billion in assets as of Sept. 30, 2014.