Moving day for downtown staple
National Bank leaving Summerside’s core after 30 years
SUMMERSIDE – After nearly 30 years in Downtown Summerside, the local National Bank branch is movin’ on up Granville Street.
Montrealbased National Bank has informed its clients it will not be renewing the lease on its long-time office at 290 Water Street and will instead be relocating to a soon-to-be renovated space at 454 Granville Street.
The move is expected to be complete and the new branch open to customers by March 25.
The project will cost the bank about $1.2 million. Staffing levels will not be impacted by the relocation.
So why go through all that time, effort and money?
There are several reasons for the move, notably that the new location offers better parking and easier access for customers, but it also reflects the changing nature of the banking industry, said Réjean Després, a vice president with National Bank, Atlantic Canada.
Customers are doing less day-to-day banking in person. Now when they walk into a bank branch, they are more likely to be looking for financial advice or want to talk about long-term investments like mortgages. National Bank is updating its branches to reflect that change and as a result often requires less space than a traditional bank layout, said Després.
The company considered its options and decided starting fresh in a new location with its updated concept was its best option in Summerside.
“If we had to redo an existing building, often you have to deal with the space that is there.
“Whereas here we are going into a new modern building and we basically have an … empty canvas to work with,” said Després.
The days of queuing up and waiting your turn to deal with a teller are quickly fading away, he added, though that kind of service will still be offered at the new branch.
The new bank concept is geared to dealing with clients from across a table.
Staff at the branch will be equipped with tablets so they can sit and deal with clients in a more casual setting, rather than always being behind a counter and attached to a specific office or workstation.
“It’s completely different. Our goal when a client walks through the door at our new branch, and this sounds funny, but it is to not serve them at a counter,” said Després.
The bank’s move also leaves a significant commercial space open in the city’s downtown, an area that struggled for years with empty storefronts but has more recently been pressed for space as an influx of new people and entrepreneurs have joined the community.
Gian Martinson, president of Downtown Summerside Inc., which acts as a voice for businesses in the downtown core, said he is sad to see the bank leave the area after so many years, but he wished them well in their new location.
He is also hopeful the space it leaves behind can be filled with something new and beneficial to the area.
“In terms of their space in downtown, it is a beautiful street-front property that we are hoping will be filled in the near future with yet another amazing business, helping us continue to build a thriving and unique downtown community,” said Martinson.