The Town of Lewisporte is frustrated with the closure of the Scotiabank branch.
The bank announced last fall that they would be closing various branches across the province, causing concerns from many about access to banking services in rural areas.
Lewisporte Mayor Krista Freake says they have had several meetings, both virtually and in-person with the bank, at first to try to save the service and then to come up with a plan to help the community.
One such idea was for the town to acquire the Scotiabank building so they wouldn’t have a vacant structure at a time when they are trying to revitalize the area. However, Freake says that didn’t happen and the building was put on the market.
She says the town isn’t in a position to pay the asking price, but they were hoping to find some way to collaborate with the bank on how to move forward.
In terms of banking services now for residents, Freake says Scotiabank has placed an ATM inside the Co-op building, existing clients have had their accounts moved to Grand Falls-Windsor, and they are touting their online services as an alternative—but “grave concerns” remain.
Particularly around the senior population—many of whom rely on tellers, the challenge of internet connectivity for some nearby communities who relied on the bank, and the economic spinoffs. She says if people have to travel to Grand Falls-Windsor for banking, they will be spending money there, and not in the town.
One bank remains in Lewisporte—a CIBC branch.