The Bank of Montreal is closing its only branch in Frankford, Ont., in Quinte West. The decision has angered local residents and politicians. has one bank and one credit union.
The branch on the corner of North Trent and Mill streets — the only bank in town — will close in August, leaving Frankford with only one credit union.
“We’d very much like to see the Bank of Montreal reconsider their decision,” said Frankford Mayor Jim Harrison, who notes that the town’s population is growing not declining.
“We’ve got subdivisions to the north, to the south, to the east, all growing rapidly.”
Coun. Keith Reid says he’s already had one phone conversation with bank officials.
In a written response, the Bank of Montreal said customer needs are changing.
“We’re seeing fewer ‘over-the-counter’ transactions and a growing demand for face to face specialized advisory services,” the statement noted.
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The letter goes on to say merging with the neighbouring Stirling branch will allow them to provide a broader range of services under one roof.
Harrison and Reid are meeting with the district manager on Friday in an attempt to persuade the bank to reconsider.
Frankford resident Aubrey LaBrie says he already drives from Battawa and the move to Stirling would add over 20 kilometres round trip.
“Plan B is I either go to Trenton or change banks altogether … because I’m not happy with the Bank of Montreal doing this. ”
Wade Michoff isn’t happy the bank is closing but isn’t willing to change his allegiance.
“It’s upsetting, but you got all your stuff coming out of the one bank so you stick with it,” Michoff said.
Ron Gibson lives near the bank and says seniors may be the ones most heavily affected by the bank’s closure.
“I live in a seniors’ building and there’s a number of residents that don’t have transportation to and from either Trenton or Stirling,” Gibson said.
BMO says it is considering a shuttle service for residents but it would only be on a temporary basis.
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