Reading Co-operative Bank has notified state regulators and customers that it plans to close its Woburn branch, located at 300 Trade Center, on Dec. 1.

“This decision is due to low utilization, traffic difficulties on that stretch of Route 128, and the increased use of mobile and online banking,” the bank said in a notice to branch customers.

All accounts opened at the Woburn branch will be transferred automatically to the Reading Co-operative branch at 10 Wall St. in Burlington.

All branch employees, according to the notice, will maintain their jobs at a neighboring branch, or one closer to where they live, when the Woburn branch closes.

Other Reading Co-operative branches near Woburn are the one at 230 Lowell St. in Wilmington and 180 Haven St. in Reading.