Jefferson County will lose its only Wells Fargo Bank branch later this month, as the company moves ahead with a nationwide network consolidation that has hit rural communities particularly hard.

The Wells Fargo location on E Street in Madras will close permanently on June 24, 2026. The bank is directing affected customers to its nearest remaining branch at 6th Street in Redmond — roughly 30 miles south on Highway 97.

Why the Bank Is Closing

Wells Fargo says the closure is part of a broader effort to “refurbish its entire network” based on shifting customer demand and changes to the retail banking landscape. The company, like many large national banks, has been reducing its physical branch footprint in smaller communities as more customers migrate to mobile and online banking.

What It Means for Madras Residents

For many Jefferson County residents — particularly seniors, those without reliable transportation, and people who prefer or need in-person banking services — the closure creates a real inconvenience. A 30-mile round trip to Redmond for basic banking transactions is not trivial, especially for those without vehicles or who face high fuel costs.

Local residents who rely on Wells Fargo for mortgage servicing, small business accounts, or in-person transactions should take the following steps before June 24:

  • Confirm their account details and ensure online or mobile banking access is set up
  • Update any automatic payments or direct deposits that may be branch-specific
  • Contact Wells Fargo customer service at 1-800-869-3557 with questions about account transitions
  • Explore whether local alternatives — including Jefferson County Federal Credit Union and other community institutions — can meet their banking needs

A Broader Trend

The Madras closure is not an isolated event. Wells Fargo has been reducing its branch count nationally for several years, and rural Oregon communities have been disproportionately affected. Warm Springs, Culver, and other small Jefferson County communities have long had limited banking options; Madras’ loss of a major national bank branch further concentrates financial services outside the county.

Community banking advocates have noted that branch closures in rural areas can reduce access to credit, small business lending, and basic financial services for residents who already face geographic and economic barriers.