Security Strategies to Address Unhoused Individuals Loitering in Bank Branches

While online banking has become increasingly popular in recent years, bank branches remain an important fixture that provides comfort and familiarity to clients—allowing them to interact with employees in person and receive assistance in real time.  

However, an emerging security issue is hindering the in-person branch experience for many customers while driving up costs for banks: unhoused individuals loitering in branches.

As the housing crisis worsens, banks are paying the price

Homelessness is a growing issue across the U.S. According to the National Alliance to End Homelessness, a record-high 653,104 people in the United States experienced homelessness on a single night in January 2023, a more than 12.1% increase over the previous year. A shortage of affordable housing and the rising cost of living are leaving more and more people without stable housing.

While many unhoused individuals seek refuge in temporary shelters, more than 50% of those experiencing homelessness were unsheltered in 2023. As a result, unsheltered people end up loitering in a variety of public locations, including bank branches.  

How this could be hurting your business  

• Safety issues: The worsening homelessness situation has led to an increase in safety issues and incidents in banks. In 2023, loitering of unhoused folks accounted for 55% of incident reports at one bank in California, an increase of 32% from 2020. The issue is likely even more pronounced today, as according to January 2023 estimates from the U.S. Department of Housing and Urban Development, unsheltered homeless rates reached 68%, the highest in the country. 

  In New York City, some banks have elected to shutter ATM vestibules overnight to prevent people from sleeping in them. Indeed, increased loitering in banks can cause a rise in security concerns such as theft, vandalism and altercations, potentially causing customers to feel unsafe and be less likely to want to enter a branch in the future.  

• A less inviting environment: In addition to safety issues, loitering can harm the customer experience by making the environment feel more crowded, less inviting, and less professional—resulting in reduced customer satisfaction. This, too, may make customers less likely to come to a branch in future. Brand image is also a concern. A bank’s branch is a form of marketing, and its reputation may be tarnished if the establishment appears to be out of control, overly crowded, or unsafe.  
• Decreased productivity among staff: The issue of loitering can also impact productivity and efficiency. If unhoused individuals block ATMs or entrances, services may be disrupted or delayed, and staff might also be prevented from doing their jobs quickly and efficiently. If customers can’t access the services they came for—whether it’s meeting with a banker or using an ATM—their trust in their financial institution may be negatively impacted.
• Potential liability issues: Loitering can also cause liability risks. If incidents such as altercations, falls or damages to property are more frequent, you will likely have to deal with insurance claims, legal issues and fees.  

All these factors demonstrate the importance of maintaining a safe and organized environment within and around branches using tried-and-tested security solutions. Furthermore, addressing the issue of individuals without stable housing loitering in banks requires empathy and compassion.

Top-tier security measures are the only solution

There are a variety of solutions and preventative measures security companies can offer to help address this serious issue and ensure branches remain safe and operational. The right combination of security solutions, tailored to fit your branch’s unique needs, will not only keep your branch secure; it will also save you money and improve your operations by eliminating ad hoc costs and enhancing customer satisfaction.

A visible security presence can go a long way

One of the most effective solutions you can implement is a visible security presence. Having highly trained security professionals on site acts as a proactive deterrent, preventing unhoused individuals from loitering in the first place, decreasing the number of incidents, and reducing the need for intervention.

In addition to patrolling guards, rapid response teams trained to intervene swiftly during altercations or incidents can make a significant impact. These professionals should be prepared to address situations efficiently and with compassion, focusing on de-escalation and conflict resolution.

Reinforcing security measures with an advanced surveillance system

Combining qualified guards with cutting-edge technology is a smart and reliable way to protect your branch. Putting technologically advanced surveillance systems in place allows for constant monitoring of branches and helps to identify any security issues in real time, so guards can respond promptly and effectively when needed.

These solutions can protect your brand image and save costs by preventing incidents and reducing or eliminating variable expenses related to security breaches.

GardaWorld Security can bring the expertise needed to enhance your branch operations

The growing issue of homelessness and increased loitering in bank branches is hurting financial institutions by resulting in more unwanted incidents, harming the customer experience and incurring extra expenses. However, best-in-class security solutions can help.

5 of the 10 largest US banks trust GardaWorld Security for their security needs, and we protect more than 200 financial institutions worldwide. We offer a single-provider solution to ensure your branches remain safe, cost-effective and trusted while handling the delicate issue of unhoused individuals loitering in bank branches with compassion and care.

We're here to help. If you have questions about how GardaWorld Security can help secure your bank branches, reach out today.