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Shingletown Residents Fighting To Keep Their Only Bank Open

By Stephanie Montano, smontano@krcrtv.com
Published On: Mar 07 2013 08:40:19 PM CST
SHINGLETOWN, Calif. -

The Shingletown community is rallying to try and save its only local bank.

Scott Valley Bank customers received letters in the mail letting them know that hours will be cut starting March 4 and that May 31 will be the last day the bank will be open.

Many have signed petitions, attempting to convince the bank to keep its doors open.

Nancy Smith, a local bank customer, is spearheading the effort to get as many signatures as she can to try and convince Scott Valley Bank not to close its doors.

Smith said merchants rely on the bank and so do many in the Shingletown community.

Smith said she has been with the bank for years and the other Scott Valley Bank is in Redding.

“People up here are retired and elderly they don't have internet or they don’t trust the internet to do their banking,” said Smith. “They can’t afford the gas to make these kinds of trips ‘cause they’re on a fixed income. I can’t afford to go to Redding every time I need make a deposit but that money needs to be put in the bank."

Scott Valley Bank CEO Timothy Avery said the reason the bank is closing is because the bank has been losing money for the past 15 years.