Residents of rural N.S. town frustrated as sole community bank closes
CTV
A public meeting between residents of Louisbourg, N.S., and the Royal Bank of Canada resolved very little when it comes to keeping the only financial institution in the community open.
With tourism season just around the corner, Louisbourg, N.S., is getting ready to welcome thousands of travelers to their community.
“For this year, there's 11 cruise ships planned for Louisbourg with 2,500 passengers per stop,” said James Edwards, Cape Breton Regional Municipal Councillor.
Besides visitors, the community has shown growth with new families moving into town. But with news its only bank will soon be closed permanently, residents are feeling hurt and angry.
Those feelings didn't change after a community meeting last week with representatives from the financial institution.
“RBC has been built in rural communities like this one that are based around industries like fishing, and I think for the older population it really feels personal. It feels like a personal betrayal to them, so it was hard to listen to some of them talk,” said Jenna Lahey, Cape Breton Regional Chamber of Commerce CEO.
In an email to CTV News, RBC admitted changes like this are hard, but argued banking has changed.
"We found that clients want fast, convenient, digital options that enable them to bank when and where they want, whether that’s from their home, office or while out-and-about," said Todd Strickland, Regional Vice President, Cape Breton and Eastern Nova Scotia.
