Banking on Ottawa: Grand Manan mayor tries to keep Scotiabank from leaving

Grand Manan Mayor Bonnie Morse said discussions with federal Finance Department staff went well, but there are still no concrete plans in place to save the island's only bank.

An islanddelegation wasin Ottawa on Wednesdayto speak with the finance staff about the imminent closure.

Scotiabank, whichhas been on Grand Manan for decades, will close its branch on Aug. 24.

Morse said the move was the island's "Hail Mary pass" moment and she wasn't even sure if there was anything the department could do about it.

"At this point,I think what we have left is to go home and regroup and start talking about, 'is there anything else we can do to to attract someone to the island?,'" said Morse.

John Williamson, the Conservative MP for the area, set up the meeting, Morsesaid.

After its closure, travelling on the ferry to St. George will be the only way Grand Mananers can access a physical bank branch.

The bank will not be leavinga banking machine on the island, either, according to an emailed statement from a Scotiabank spokesperson.

"The decision is final and we did not make it lightly," the bank saidin astatement.

"Scotiabank has a longstanding relationship with the community in Grand Manan and we want to assure residents that our support of the community will continue."

While online banking is an option, Morse said that someof the island's population aretoo old to be able to handle that. About 1/5thof the total population of Grand Mananis65 years old or over, according to Statistics Canada.

Morse also said that businesses, community eventsand fundraising initiatives still prefer to dealin cash, which requiresa branch on the island.

The mayor is also concerned about future prospects for the island, wondering if businesses considering setting up on Grand Manan might not want to do so without a financial institution.

When the mayor spoke to Scotiabank about the closure, she said sheasked for a deal with reduced services, but the bank was not interested.

With a 45-minute check-in time at the ferry, a 90-minute crossingto St. George, and then a drive to the bank paired with ferry schedule "it's close to a nine-hour day to go to do a 10-minute banking session.

"So it really is a huge obstacle to people," said Morse.

Scotiabank has been on the island formore than 100 years, and Morse said it's part of the community.

"It does feel like a little bit of a betrayal maybe, that they are leaving in this kind of fashion."