Temagami mayor says his community dumped as Scotiabank pulls out abruptly
The Municipality of Temagami has been left wondering what’s next after losing its only financial institution earlier this week.
Scotiabank closed its branch in the small northern Ontario community after decades to consolidate its services with the branch at 1500 Fisher Street in North Bay, more than an hour away.
Scotiabank abruptly closed its bank brank in Temagami. July 18, 2024 (John Shmyko/Municipality of Temagami)
The closest financial institution for those who live in Temagami now is in New Liskeard, more than 55 kilometres north.
"Our big concern about this whole thing was I got a call a couple months ago and they said they were closing the bank," said Temagami Mayor Dan O’Mara.
"It was pretty shocking at the time. They didn’t give us any opportunity to respond, the decision was made and they came and told us."
- Download the CTV News app now
- Get local breaking news alerts
- Daily newsletter with the top local stories emailed to your inbox
He said the town's biggest concern is what the residents, especially the seniors, are going to do.
"It was a big decision, I understand that. They are going to let us have (a bank machine) across the road at the PharmaSave, which is good, but it’s the history," O'Mara said.
"You know it’s the commitment to a community and I guess it might be business-related, but I don’t think closing the bank is going to increase the profits of Scotiabank."
The bank was only open a couple of days a week in Temagami and now, the mayor questions Scotiabank’s commitment to small communities.
"To me, it’s just not right, it’s profits and closing this bank is not going to save this bank a lot of money," he said.
"Yes, we’re a little bit disappointed. We do appreciate they did try and work with us and gave us a banking machine across the road, but it’s not going to be open all the time."
O'Mara said the lack of in-person banking service is going to be an inconvenience.
"It’s like cell service and whatever, when it comes to small towns in northern Ontario, we sometimes get neglected," he said.
The mayor said he worries about what this will mean for seniors and businesses in the community.
"It’s going to make business harder in Temagami than it was before and we don’t need any more obstacles," O'Mara said.
"This is another item that small towns have to deal with. Especially the history we have with Scotia and just to walk away and not even give us an opportunity to see if there’s something the community can do. If they’re having trouble recruiting staff, I don’t know, it just wasn’t right."
The mayor said the town has reached out to credit unions and couldn’t land one and the owner of the building may start looking for other tenants.
Scotiabank told CTVNewsNorthernOntario.ca it reached the decision after careful consideration.
In a statement, Madison Rodness, manager of Scotiabank’s Canadian banking communications writes in part:
"With customer preferences changing and more day-to-day banking being done digitally, we are continuing to evolve how we serve our customers and invest in areas that make it easier for our customers to bank with us from wherever they are. We are committed to supporting our customers, employees and communities through this transition."
"We’re a dot on the map to them and that’s not right and they’re not going to like what I’m saying, but the truth hurts," O’Mara said.
CTVNews.ca Top Stories
China hits Canada with anti-dumping probe on canola imports in response to EV tariffs
China said on Tuesday it plans to start an anti-dumping investigation into canola imports from Canada, after Ottawa moved to impose tariffs on Chinese electric vehicles, lifting prices of domestic rapeseed oil futures to a one-month peak.
'Like being in prison': Via Rail passenger says people stranded without food, water
A tourist visiting Canada is questioning the safety of Via Rail after he says his phone was snatched from him by an employee when he was documenting a train delay that left passengers stranded as they ran out of food, water and working toilets.
Just returned from the Olympics, a Ugandan athlete is set on fire by her boyfriend
A Ugandan athlete living in Kenya was set ablaze by her boyfriend and is currently receiving treatment for 75 per cent burns, police said.
BREAKING Russian strike kills at least 41 people and wounds 180 others in central Ukraine, Zelenskyy says
Two Russian ballistic missiles struck an educational facility and nearby hospital in a central region of Ukraine, killing at least 41 people and wounding 180 others, Ukrainian President Volodymyr Zelenskyy said Tuesday.
B.C. woman who sought $5K from neighbour over noise ordered to pay $50 for nuisance
A British Columbia woman who unsuccessfully sued her downstairs neighbour last fall for making too much noise has now failed in a bid to sue her upstairs neighbour for being too loud.
'I wouldn't be here': Ontario supervised consumption site users speak out on closures
Reggie Garrett weeps as he speaks about the Parkdale Queen West Community Health Centre, which houses the supervised consumption site he uses. It is one of 10 such sites slated for closure after the province announced new rules.
The US$10-million cocktail everyone is drinking at the U.S. Open
At the U.S. Open currently underway in New York, a single cocktail will surpass US$10 million in sales before the tennis grand slam event ends Sept. 8.
Condoms can't be trusted and boys don't cry in Catholic Paraguay's first sex ed program
For the first time, Paraguay's Ministry of Education has endorsed a national sex ed curriculum. But in a surprising twist, it's the sexual health educators and feminists who are panicked.
Attempted jailbreak at a Congo prison kills 129 people as chaos erupts with a stampede and gunshots
An attempted jailbreak in Congo's main prison left 129 people dead, including some who were shot and others who died in a stampede at the overcrowded facility, authorities said Tuesday. Activists alleged the death toll was higher but did not provide a figure.