Bank service deal
RBC Royal Bank will provide banking services to North Glengarry Township over the next five years.
At its Dec. 10 meeting, council unanimously agreed to award RBC the contract after it scored the highest in a scoring matrix. The township had issued an RFP to provide banking services and RBC – along with BMO Financial Group, Scotiabank, and the Caisse populaire Desjardins – applied.
The four institutions were evaluated on a number of criteria – Financial Proposal Interest Earned, Fees and Charges, online banking, community participation – and RBC scored the highest with 95 out of a possible 100 points.
At first, Councillor Michel Depratto challenged the move, saying he didn’t think RBC was as community-minded as other institutions. However, the township’s Director of Finance, Kimberley Champigny, pointed out that RBC has donated nearly $590,000 to a number of organizations such as the United Way, CHEO, the Upper Canada District School Board, and the local hospital.
Eventually, voted with his colleagues on awarding the contract to RBC. He also noted that the Caisse populaire is in the process of uniting with other caisses in the province and that he hopes it will maintain its reputation for generosity.