Chevy Chase Bank Branches Officially Become Capital One

MyBankTracker

By , Staff Writer
Posted on Mon Aug 30, 2010, Last Updated on Tue Jun 17, 2014

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Say goodbye to Chevy Chase Bank, effective September 10. Chevy Chase, which was purchased by Capital One in September 2009, will be completely rebranded as of early next month. The former branches of Chevy Chase will be outfitted with Capital One signage as the end of a year-long campaign to seamlessly migrate Chevy Chase customers to Capital One membership.

Sweeping Rebranding Effort

The complete renaming of a large bank doesn’t happen overnight. In fact, it takes a year’s worth of hard work and big spending.

The bank spent extra time and money on Chevy Chase because of the bank’s large number of locations in Capital One’s home region and the size of Chevy Chase’s holdings. The media blitz over the next couple of weeks will include large banners in the Washington, D.C., public transportation system, prominent locally targeted online advertising, and television commercials featuring star athletes.. To carry out the rebranding effort, Capital One consulted with ten creative agencies.

The end result of the campaign, to be rolled out in full September 10, will be completely redecorated branches and new services for customers.Chevy Chase Bank Branches Officially Become Capital One

Changes For Chevy Chase Customers

Consumers who currently bank with Chevy Chase should expect a few changes to the accounts for which they’ll be eligible and perhaps some changes to fee practices.

The top new products Chevy Chase customers will be offered are rewards checking and mobile banking. Rewards checking from Capital One offers points that can be redeemed toward gifts or travel perks.

Some savings account holders will now be hit with a $3 fee for making more than one teller visit per month and a $3 charge for making more than three ATM withdrawals in a month. Customers could save a bit through more interest for under-18 account holders and a reduced $2 minimum balance fee.

Another Capital One Acquisition

Capital One, the ninth-largest bank in the U.S., has taken three sizable banks under its wing in the past five years. The acquisitions of Hibernia Bank of Louisiana and North Fork Bancorp of New York gave Capital one more than 600 new branches, and the Chevy Chase merger added more than 1,000 ATMs to Capital One’s roster.

Taking on Chevy Chase’s branches represents aggressive expansion of Capital One’s footprint in the Mid-Atlantic region. Chevy Chase maintained brick-and-mortar locations in Maryland, Washington, D.C., Delaware and Virginia. Capital One will reportedly add 300 employees, with an emphasis on adding workers at the bank’s now-around the clock call centers.

 

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  • Lady3

    I have been with CCB since July 2002. I will be closing my account on sept 9.
    capital 1 is a horrid credit card compant. i dont want my $ helping them.
    i hope this merger is a fali (like aol time warner) and in a few years this merger breaks up.

    • Tommy77

      Even if the merger fails, the Chevy Chase Bank name is gone forever. Capital One is no worse than any other credit card company — Chase, Bank of America, Citibank, Wells Fargo — all the “big” banks are tough but they have many locations and services in exchange for charging us a lot of $$ for it. I like lots of locations and my experience with Chevy Chase Bank was not any better than the big guys. Credit Unions actually have better deals and care more about customer loyalty. But Credit Unions usually have just a couple locations and not so much stuff online. All of America’s companies are merging – Banks, Airlines, Cable company, Phone company – and we all pay more for it. There is no stopping these mergers.

  • Redskin

    I originally came to Chevy Chase Bank from M&T because of their reputation as being more customer service oreinted and “that it was owned by one person who would never sell the bank like other banks were being sold”. At least that is what the bank manager of my branch touted to entice me to transfer all my money to them. As greed will always win out in the banking industry, I will be looking for another bank that will not start to nickle and dime me to death as I have noted here.

  • markr

    Capitol One charged me a $15 maintenance fee the first Monday they controlled my CCB account. It’s Wednesday and I am heading in to close my account. $15 maintenance fee is stealing, plan and simple. I don’t think that Capitol One realizes the that they wont get away with these fees the way they do on credit cards. People expect credit cards companies to be sneaky and steal whenever they can, but I can get free checking accounts at almost any bank.

    • Blackmoor1987

      i just realizes Capitol One charged me $15 maintenance fee too …what can i do to get back that money??

    • steven

      They did the exact same thing to me when they took over Chevy Chase. My checking account was “converted” to Incredible Interest Checking. My previous account had a $1000 minimum before a fee would kick in. I keep around $2000 to $3000 in my checking account. The new Incredible Interest Checking account has a minimum of $2500 before a maintenance fee kicks in, and my balance dropped to $2350. Looked on their website, and NO WHERE do they offer anything called “Incredible Interest Checking.” They offer 3 kinds of checking accounts, each with a $1500 minimum, so how come it wasn’t converted to one of those when they took over Chevy Chase? I complained to them, and am now wondering how far to take my complaint. This is ridiculous.