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Blairmore latest Alberta community to lose bank branch — a trend seen across Canada (www.cbc.ca)

submitted 3 days ago by HellsBelle@sh.itjust.works to c/canada@lemmy.ca

5 comments fedilink hide all child comments

Valerie Robinson has been a CIBC customer for almost 30 years. Now, that’s coming to an end.

She lives and does her banking in the Crownest Pass town of Blairmore, Alta..

The bank notified the community of 1,500 in September that the local branch will close on Feb. 5. The nearest other CIBC branch is about 40 kilometres away in Pincher Creek.

CIBC will remove its ATM in Blairmore too.

Robinson is worried about locals’ reduced access to cash: the currency of the small transactions that fund the life of the town.

“All of our fundraising, like with the service groups, curling, sports activities for kids — you're not going to have a kid going around with a debit machine to sell their raffle tickets, you know.”

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[–] KanadrAllegria@lemmy.ca 4 points 3 days ago (1 children)

Asked whether CIBC customers in Blairmore will have fee-free access to ATMs at any of the other financial institutions remaining in town — a question the federal regulator suggests customers ask their banks in closure scenarios — CIBC’s spokesperson noted that clients can use their debit cards “to receive cash back at retailers where offered when making a purchase using their card. This feature provides convenient access to cash without needing to visit an ATM.”

Way to pass the buck! Not many small businesses carry enough cash to be able to offer cash back, not to mention now some of those businesses may have to drive half an hour into Pincher in order to do deposits and withdrawals? Yeesh.

[–] HellsBelle@sh.itjust.works 7 points 3 days ago

For the amount of money Canadian banks make in profit per year they should be forced to keep small-town banks open.