The westernmost storefront on the left side of The Beacon Apartments tower will be the new Downtown Cleveland home of Dollar Bank. The site is on Euclid Avenue next to The Old Arcade, seen at far left (Google). CLICK IMAGES TO ENLARGE THEM.
Financial Solutions Center to open in January
Although NEOtrans broke the story of Dollar Bank’s retail location move in Downtown Cleveland back in July, company officials made the news official and more detailed in an announcement yesterday.
The Pittsburgh-based bank confirmed its new Downtown Cleveland office will be located at The Beacon, 515 Euclid Ave. The new Financial Solutions Center will officially open to customers on Jan. 5, 2026.
This new location on the ground floor of the 28-story Beacon Apartments tower will replace Dollar Bank’s current retail presence at the Galleria at Erieview, 1301 E. 9th St. This branch will close permanently at the end of business on Jan. 2, 2026.
Dollar Bank has a significant regional office presence of about 26,000 square feet at Oswald Tower, 950 Main Ave., in Downtown Cleveland which will continue. To make way for the redevelopment of Erieview Tower at attached Galleria, the bank moved its regional offices in 2022 to Oswald Tower after being located at Erieview for decades.
In a written statement, Dollar Bank officials said the new location will be designed to provide a modern and welcoming banking experience. The new Financial Solutions Center will feature the latest technology to assist customers with their banking needs, they said.
Dollar Bank’s longstanding retail location in Downtown Cleveland has been at the Galleria at Erieview which is undergoing redevelopment. The company also had its regional offices here before moving across downtown in 2022 (Google).
In addition to standard banking and lending services, the new office will offer access to specialized resources, including business services, Dollar Bank Insurance Agency and Dollar Investment Services. For customer convenience, the new center will include a complimentary coffee station, Wi-Fi access and an enhanced customer lounge.
“We are excited to welcome our customers to our new Downtown Cleveland location,” said Dollar Bank President and CEO Jim McQuade in a written statement. “This move allows us to provide an enhanced experience with a wider range of services in a state-of-the-art facility.”
“Since our founding in 1855, Dollar Bank has been committed to financial inclusion, community dedication and stability,” McQuade continued. “Our new Financial Solutions Center solidifies this commitment in downtown Cleveland.”
The storefront to be occupied has been vacant for at least several years. It is the westernmost space on the ground floor of the Beacon, between The Old Arcade and Balance Pan-Asian Grille. Potbelly Sandwich Shop is the other ground-floor tenant at the Beacon.
“We are thrilled to welcome Dollar Bank’s new Financial Solutions Center to The Beacon,” said Stacie Schmidt, vice president of marketing and communications at Cleveland-based Stark Enterprises, the building’s management firm.
Dollar Bank’s regional offices are located in the Oswald Tower on Flats East Bank in Downtown Cleveland. The changes in the bank’s downtown retail presence will have no effect on its downtown office presence (Google).
“This partnership not only brings best-in-class financial services to the heart of downtown but also enhances the vibrant community we are building at The Beacon,” Schmidt added. “We are excited to see Dollar Bank thrive in this dynamic location.”
The reason for relocating to Lower Euclid Avenue wasn’t stated. But an undeniable factor is that Lower Euclid has a lot more foot traffic and residential population than the Galleria, surrounded by aging office towers with low occupancies. Some of these buildings are getting converted to residential and other uses.
Dollar Bank is investing about $500,000 on fitting out the 2,300-square-foot space, according to its permit application filed with the city in July. In addition to the coffee bar and lounge, it will have teller counters, several offices, a conference room, and an ATM outside along the sidewalk.
“We see this move not just as a relocation but as a strategic investment in Cleveland’s urban core, building a dedicated Financial Solution Center in a prime downtown location,” said Maria Amoruso, vice president of public affairs at Dollar Bank. “This is a story about a long-standing institution making a fresh commitment to the neighborhood’s economic vitality.”
As the nation’s largest independent bank, Dollar Bank has more than 90 locations in Pennsylvania, Maryland, Ohio and Virginia. As of July 2025, Dollar Bank reported total assets of $12 billion, total loans of $9.4 billion, and total deposits of $9.6 billion.
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