The village of Invermay has been notified that the Royal Bank of Canada (RBC) branch is closing, with the last day of business to occur on October 18, said Mayor Mike Kaminski.
Kaminski was quite disappointed by the news, since RBC has had a branch in Invermay since 1920. He said Invermay history books indicate that, “Before RBC came to town, people kept their money at home hidden in various places.”
But RBC’s long banking presence in Invermay will soon be over.
RBC seems to be doing quite well on a national level, said Kaminski, so it’s unfortunate they chose to close this branch.
“It’s too bad that because profits aren’t where they should be, they decide to close our bank,” said Kaminski. “But they seem to forget they are serving people.”
When Invermay's RBC branch closes, the next closest financial institution will be nearly 50 kilometres away in Wadena or Canora.
RBC declined interview requests, but responded via email for a July 9 CBC News story. Regional president Kim Ulmer said the company is changing the way it serves small communities in the Internet age.
The bank said it recognizes that changes like this may be challenging, but wants to work with people to find solutions.
It said it's "actively exploring options" for a cash machine in Invermay, and may offer a community Wi-Fi service to aid people who don’t have Internet access with online banking, said the story.
But as Kaminski points out, this means little to local seniors who are not comfortable with banking on computers.
