Community members in Eganville are expected to call on as many authorities as possible to keep the Bank of Montreal in town.
Following a town hall meeting to discuss the planned June closure for the BMO branch due to issues with their current building, Bonnechere Valley Mayor Jennifer Murphy and township staff are urging residents to make some noise with several high-ranking officials as they try to convince the bank to reverse course.
The township has prepared a list of notable contacts for residents to state their case with, including federal Finance Minister Francois-Philippe Champagne, Secretary of State Wayne Long, several provincial ministers, regulatory boards, and BMO’s Chief Inclusion Officer, as well as a form letter asking for their intervention.
While Murphy noted the township is exploring creative solutions like shared service models, credit union partnerships, and mobile banking options to keep banking viable in Eganville, losing the local branch will hurt more than just one community.
She also pointed out just how much damage that severely limited the community’s ability to manage finances safely and independently could cause for the local economy and cash-based services.
Among those who spoke up at the meeting was Algonquins of Pikwakanagan Chief Greg Sarazin, who says the First Nation is ready to support the township in its effort to keep the bank from closing its doors for good.
The push to save the Eganville BMO branch comes during a growing trend of big banks leaving rural Canadian communities, putting the future of equitable access to financial services for smaller communities in doubt.
(written by Kasey Egan)