The Municipality of the District of Guysborough (MODG) has hit a major roadblock in its pursuit to try and keep the only bank in Canso around.
The Bank of Montreal (BMO) is set to close by the end of July and its higher ups are not willing to discuss the matter with town staff, which is disappointing according to Warden Paul Long.
He tells our newsroom, they recently put in a formal request to sit down with the banks Regional Vice President and other representatives, but that was shot down.
“The response we received back was…they appreciate our concern, but they had no intention of coming to meet with us to go any further down the line on that.”
BMO had informed clients earlier this month, they would be closing their Port Hawkesbury and Canso branches this summer, sparking outrage within the Canso community.
Now that the closure is only months away, residents will soon have to drive to New Glasgow for in-person service, which is hours away.
Why the decision?
It is not exactly clear why BMO is shutting down its local operations.
In an email to our newsroom, they say they “carefully considered” the decision and are adapting to “changing consumer preferences” for service delivery.
BMO says they recognize a change like this can cause “challenges” but are suggesting residents learn how to bank online.
“We encourage any customer who wants help gaining confidence with any of our alternative banking options, to book an appointment with our Canso team at their earliest opportunity.”
Long says, he received a very similar response.
“I’m sure it’s a corporate decision way up the line somewhere. Unfortunately, that’s [the] kind of way it is sometimes in rural areas. Rural Canada gets looked at from the higher end.”
Next Steps
There are still six months before the Canso BMO closes.
Long says, that gives the municipality enough time to talk to other financial institutions to see who might be willing to set up shop in the community.
“We’re trying to put feelers out to different banking institutions to see if there’s any interest in another bank coming to the area.”
However, he says, there has not been any positive feedback on that, just yet.
Long adds, another possibility would be looking into whether or not the RBC in Gusyborough could extend its hours, if some clients are willing to switch institutions.
“I mean, I guess the saving grace is that they’re not closed until July. So, we do have some time to try to work at this problem. See if we can find something that’s going to help the people of the Canso area maintain some type of banking institution. We’re certainly not done trying.”
