Why Are There So Many Banks Along This Rochester Road?
By the number of existing banks new financial institutions under construction on this stretch of road in northwest Rochester, you'd almost think its name was Wall Street.
I'm talking about West Circle Drive in Rochester; specifically, the part that runs north between 19th Street Northwest and 41st Street Northwest (right in front of Costco and Five West). Have you ever noticed just how many banks there are on that stretch?!?
Home Federal Savings Bank was the first one to set up shop in that neighborhood, right on the corner of West Circle and 19th Street. Then, a few years ago, Associated Bank built a branch location right next to Five West.
Not to be outdone, West Bank also built a new location along that same stretch, a little farther north on West Circle Drive, at the corner of Heritage Place Northwest. And there's also the new Altra Federal Credit Union branch that's currently under construction right across from Home Federal's location on 19th Street.
But wait-- there's more! Like the new Sterling State Bank branch that's being built across from Hy-Vee West Circle on the corner of West Circle and Badger Hills Drive and Mayo Employees Federal Credit Union across the street. And, let's not forget the U.S. Bank location on the Costco side of the street, as well as other financial institutions on that same stretch, too, like F&M Community Bank, Wells Fargo Home Mortgage, Results Mortgage, Prime Lending, and North Risk Partners.
And, there are probably a few I might have missed, too. That's a LOT of financial institutions on one stretch of road, isn't it? What's up with that? And should we petition the city council to rename that stretch of road 'Wall Street'?