People in the town of Radville are upset because they are losing their local branch of the CIBC.

The bank informed local officials and clients that it is closing the branch, effective July 13th.

"You know, being in Radville for 105 years, and the Commerce being you know, 150 years old, and thriving on you know, providing service to the small communmities and stuff, and all of sudden we get the plug pulled." an exasperated Radville Mayor, Rene Bourassa told Discover Weyburn.

The Mayor said 7 jobs will be lost when the branch closes.

Bourassa is especially concerned about possible harmful effects on Radville's local economy. "As a community, we work on making a hub, and we've got a hub of probably 70 kilometre radius," said Bourassa.

"A lot of people use our new hospitals and we have all the services, the schools, we have all the rec facilties. And, if people leave for banking, you know what happens, they're banking, they're shopping, and they just bypass us, right?" he added.

Bourassa's concerns were echoed by the Reeve of the surrounding Rural Municipality of Laurier, who said local residents will be greatly inconvenienced.

"If we lose it here, and then we've got to drive 50 K to get into Weyburn to do your banking. That's another cost, right?" said Reeve Todd Labbie. "And if you're a farmer, and you're hauling grain into Weyburn, you cannot stop there with your semi and drop your cheques off, there's nowhere to park."

Once the branch closes, the only financial institution remaining in Radville will be the Credit Union.

Laurier and Bourassa say people are signing a petition, demanding the branch be saved.

They say bank officials will be present for a public meeting on the issue at 7:00 PM, March 30th.

 

Notice issued by CIBC