Chatsworth bank closing
BMO says it is moving accounts to new building on Owen Sound’s east side
BMO Bank of Montreal has informed Chatsworth officials – and confirmed to The Sun Times – that its branch in the village south of Owen Sound will close May 10.
“We’re very disappointed, as a council,” Chatsworth Mayor Bob Pringle said of the closure decision.
“We are very upset that they have done that. It’s been a part of our community for a long time. It is our only banking facility in the entire township and it will mean that people will have to go to Owen Sound or Chesley or Tara or Markdale to do their banking.”
He said Chatsworth has many elderly residents who will be especially impacted by not having a bank with tellers near their homes.
BMO recently confirmed that it will be shuttering its downtown Owen Sound location April 5 and reopening April 8 in a new building, which is now under construction in front of Zehrs at 1150 16th St. E.
The bank says the new branch will be larger and more accessible than the current Owen Sound location and have ample parking to better accommodate customers. It will also include the first drivethru ATM in Owen Sound.
Julie Barker-Merz, senior vice-president of BMO’s South Western Ontario division, said the Chatsworth branch is closing as a result of the bank’s decision to invest in the new branch in Owen Sound, which she said will offer “an expanded suite of services and more flexible hours of operation to accommodate customer wants and needs.”
All customer bank accounts, loans and investments that are currently at the Chatsworth branch will be automatically transferred to the new Owen Sound branch, she said.
The new branch will also have business banking relationship managers on site, she said, which is a service not available at the Chatsworth location.
Pringle said BMO has told Chatsworth council that it would like to keep one of its ATMs in the village after the branch closes, but it would prefer to have it in a business that is open 24 hours a day, seven days a week.
“At the present time, we don’t have a 24-hour business,” he said.
Chatsworth council wants the ATM to remain in the town, he added.