Rainy River CIBC to close doors in May

Duane Hicks

The CIBC will be closing its banking centre in Rainy River on May 5 and moving clients over to its Emo branch.
But at least one west-end resident is steaming about the decision and urging other CIBC clients to voice their displeasure.
“I don’t like it,” said Shirley Larsen, who lives just south of Bergland and has been a CIBC customer for more than 50 years.
“To go to Emo is a long ways just to pay your bills and get some money,” she noted.
“I don’t want to change to the credit union,” added Larsen. “I’ve got nothing against the credit union but I can’t see why they [CIBC] can’t close Emo and leave one in this end of the district.
“Emo isn’t so far from Fort Frances,” she reasoned.
Larsen believes many people use the CIBC’s Rainy River branch, not only those in Rainy River but people living in Morson and the surrounding reserves.
“There’s people who don’t have computers; they’re not banking online or whatever,” she argued.
“A lot of them are older and they don’t go to Emo; they don’t go to Fort Frances,” Larsen stressed.
CIBC plans to hold a community meeting on Thursday, Jan. 5 from 7-9 p.m. at the Evangelical Covenant Church in Rainy River to answer any questions and discuss alternative banking options for clients.
But Larsen said “that’s leaving it kind of late.”
“I think people need to protest as much as they can,” she asserted. “They did that in Peterborough.
“My daughter used to live in Peterborough and there was a bank that was closing and people protested and protested—and they left it open.
“The credit union is fine; there’s two tellers there,” Larsen said. “But if everybody that’s at CIBC moves over to the credit union, well, there’s going to be an awful lineup.
“They [CIBC] can’t tell me there’s days that nobody comes in,” she added.
“Every time I’m in town, there’s always cars in front of the bank and people going in and out of there all of the time.
“It’s maddening,∏” Larsen said. “I think we all need to speak up and protest, and get on their arse.”
CIBC told the Times the reason for the closure is declining business volumes.
“Anytime we look at closing a banking centre, it’s a decision that we take very carefully,” said CIBC spokesperson Jon Kastikainen.
“In the case of our Rainy River [branch], we have seen low business volumes, which have been declining in recent years,” he noted.
“We will be transitioning our clients to our Emo [branch] for their banking needs, and our team in Rainy River will be available in-person and by phone to assist clients with their individual needs during this transition,” Kastikainen pledged.
While many clients in Rainy River already are banking by phone, online, or using a mobile device, said Kastikainen, he added that the CIBC team in Rainy River will be spending time with clients in the coming weeks to help them learn more about using these options for their everyday banking.