BMO bites it

Weston has lost another bank.

The BMO at Weston and John closed on Friday; the nearest Bank of Montreal branch is now at Jane and Wilson.

Two TDs, the BMO, the Scotiabank, and one Royal Bank have closed in recent years. (I could be forgetting some, and yet others have closed in Mount Dennis.) We now have only one major bank branch left: the Royal Bank at Weston and Lawrence.

While the major banks have left town, we do have at least 11 cheque-cashing  and money-lending businesses, demonstrating that residents do need financial services—but not ones the major banks will provide.

 

Author: Adam Norman

I am raising my two children in Weston.

7 thoughts on “BMO bites it”

  1. Sad news. Banking dessert now. I hope the royal bank gets some of these customers
    Hopefully they dont leave. Less competition for them .Report

    1. why is it sad?
      BIA, politicians etc all had a chance to save what they could but too little too late…..seems like with the banks and retailers leaving they understand weston rd better than all those that want to line weston rd with ugly rental towers…..telling isn’t it?Report

  2. Very telling of the demographic and situation in Weston. The honest hard working people barely make ends meet and therefore have little savings. The welfare collectors use up the money right away (whether recklessly or out of necessity), so there’s another situation where the banks aren’t seeing investments or savings accounts from people in the area. AVOID THE CHEQUE-CASHING / MONEY-LENDING PLACES!!Report

  3. ** Don’t forget that We still have the long standing ” Credit Union ” in the Tim Horton – Wendy’s – Fire Station plaza on Lawrence ( Luminus Credit Union)Report

    1. Okay you use the credit union that doesnt help Weston rd.
      Anyways bet BMO spot and across the street turns into more rental tower…..both sides of weston rd property owners sold out and rental towers on their way….yay on our way to being lowest income ward in Ontario!!!!Report

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