Alberta Avenue a banking desert
With the September departure of RBC, there are no longer any fullservice branches of any Canadian chartered banks on 118 Avenue between Wayne Gretzky Drive and the river. (There is a Servus Credit Union at 43 Street).
At one time, four maintained full-service branches in this area. Over the last few years, they’ve all deserted Beverly, Norwood, and the Highlands.
These branches were “underperforming,” which doesn’t necessarily mean they were losing money; just too small and not making enough money. I’m certain all the banks followed the regulations regarding customer notification and transfer of accounts.
What none seem to take into account are the customers they have abandoned, and the impact on the community. This is not a wealthy part of Edmonton. There are many seniors, recent immigrants, and other disadvantaged who need a teller, or have transportation limitations.
Alberta Avenue is well-served by public transit. The new branch locations in Clareview and Manning to which accounts were transferred are not easily walkable, and almost dictate the use of a vehicle.
These greedy banks make billions every year. Shame on TD, CIBC, RBC and Scotiabank for making this happen. Shame on the Government of Canada for allowing this to happen.
Kim Bouwmeester, Edmonton