Al­berta Av­enue a bank­ing desert

Edmonton Journal - - LETTERS -

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


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