Another bank closes

In the ongoing story of banks bailing and gutless governments, the CIBC at Weston and Eglinton has permanently closed and ‘merged’ with a branch 3 km away.

A TD, Scotiabank, and an RBC branch have already closed in York South–Weston. The TD bank at Weston and Church is slated to close by the end of 2018.

The bank closures are not for want of profits: there are at least 15 payday loan shops in the riding.

Mount Dennis CIBC Banking Centre to close

The Mount Dennis CIBC Banking Centre

According to the CIBC website, the CIBC Banking Centre at 1174 Weston Road will close on Friday, October 20, 2017 at 1:00pm and merge with the Keele and Saint Clair Banking Centre 3 km away. Despite big banks’ record profits, there is an ongoing trend to close and consolidate branches. Weston’s Scotiabank branch closed last year.

Who will be affected most by this? People in the neighbourhood who walk to the branch or even worse, those who are uncomfortable with or cannot afford computers; namely the poor and the elderly.

One wonders, if payday loan companies can afford to have branches on every corner, why can’t the big banks?

CIBC would like you to move your banking to here.

Banks know that customers are loath to change from one bank to another and feel that cutting service (and jobs) is better for business than serving people where they live.

Mount Dennis CIBC customers may wish to move their business elsewhere. Credit unions are noted for their customer service and would be happy to welcome new clients. If you have to use the car anyway…