Enderby losing only bank with notice of BMO closure, credit union will be only local option

Enderby losing only bank

Enderby is losing its only bank.

Bank of Montreal clients have been notified the Enderby branch of the Bank of Montreal will close in the spring.

Customers have received a letter stating their accounts will be moved to Salmon Arm.

The letter states the branch will close at the end of business April 26.

The closure will leave Enderby with only one other financial option, the Enderby and District Credit Union. The Royal Bank does have an ATM in town, but not a bank branch.

BMO says customers' accounts will be moved to the Salmon Arm branch at 231 Trans-Canada Highway.

"All your bank accounts, loans and investments will be automatically transferred to the new branch. This includes lines of credit, mortgages, guaranteed investment certificates and registered retirement products," the bank says.

Direct deposits and pre-authorized payments will continue.

Safety deposit boxes cannot be moved, however.

The impending closure is raising concerns for some.

"My mother has been a customer there for 70 years. She is 90 years old," says Val Garding.

"There are a lot of elderly people who do not drive, do not use computers, do not even use debit cards. They deposit their cheques and take cash out of their accounts," says Garding of the importance of having a local branch.

Garding says a public meeting to discuss the move will be held Dec. 5, 6-8 p.m. at the Enderby Legion.

The reasons behind the closure are unknown at this time.

Castanet has reached out to Bank of Montreal for comment.

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