Disappointment in Spencerville over bank closure

Disappointment in Spencerville over bank closure Residents in Spencerville say they are shocked and upset after the last bank branch in their community announces plans to close.

There is disbelief and anger in the rural community of Spencerville, Ontario.

After over a century in operation, RBC has announced plans to close its landmark branch there at the beginning of May 2018. It’s the last bank branch in the community.

“That’s the last thing we need is the closure of this branch,” said Edwardsburgh/Cardinal Mayor Pat Sayeau. “I’m very disappointed.”

RBC plans on merging the Spencerville branch into their Prescott branch, about 20 kilometres away.

RBC says more and more people are turning to online banking instead of going to a bank teller.

In a statement, Mike Belliveau, RBC regional vice-president for Eastern Ontario, says, “Technology is changing people’s banking habits and while some do visit our Spencerville branch regularly, far more of our clients have come in less and less often.

“The larger shift to digital is changing the way every industry operates. We have a responsibility to our employees, our clients, our community and our shareholders to make sound business decisions in order to remain a viable business—not just for the next decade but for the next century.”

Sayeau says he plans on fighting the closure, even if it means keeping it open with reduced hours. The mayor has the support of Leeds – Grenville MP Gord Brown, as well as area MPP Steve Clark. Both say they back the mayor’s mission to keep the branch from closing and are disappointed with RBC’s decision.

Sayeau says if the branch closes, his council will consider pulling its investments out of the bank.

“I know the council will look very hard at whether they want to maintain that relationship or not,” he said. “There will be no actual reason to maintain that kind of a relationship with them.”

Many residents say they are upset and shocked at the closure. They say it will hurt the community, and will be especially hard on seniors, many who don’t drive.

“It was just a short jaunt,” said Glenda Laird, who lives behind the branch. “I could take my walker and my oxygen, and away I'd go. That's going to come to a halt.”

The mayor is planning a public meeting in the community in November. He’s calling on RBC to show up, and answer to residents.

With files from CTV’s Claudia Cautillo