Small Ontario town set to lose only bank

A small eastern Ontario town is hoping to rescue their only bank after Scotiabank announced it will be closing at the end of the summer.

The Scotiabank on Main Street in Avonmore, Ont., about an hour drive southeast of Ottawa,is set to close in favour of a new location 23 kilometres away in Casselman.

The community's lone bank has been serving the community since 1899, back when it was the Bank of Ottawa.

All residents of Avonmore who spoke to CBC News said they were upset with the decision.

"Im looking at the seniors. Weve got a number of seniors that dont drive," said Mark Bourgon."Theyre going to need drives to other communities to do their banking."

3 area locations scheduled to close

Scotiabank locations in nearby St. Isidore and Maxville are also closing.

"Small-town Ontario and small-town Canada, theyre just squeezing them out," said Corinne Bourgon.

Scotiabank said they would leave an ATM in Avonmore, but the owner of a general store across from the bank said that wont fill the void.

"Theres an awful lot of banking that cant be done through the ATM," said Murray Barkley. "Money orders, safety-deposit boxes, loans, mortgages, investments."

Scotiabank has scheduled a public meeting with residents Wednesday night,as locals say they hope to convince the company to reconsider.