As mentioned last week, it’s always sad when a business closes in a small town. One area of specific concern here in Wellington County is the loss of banks, notably in the north.
In December 2017 it was announced the Moorefield RBC would close and merge with the Drayton RBC the following May.
Then it was announced the RBC would close in Clifford in August 2018.
Just this week, we found out that yet another bank in the north is closing. The CIBC in Harriston is set to close in September of this year.
I don’t know about you but I’m not sure what residents in these communities are supposed to do without a functioning bank. How are they going to get cash? How are they going to deposit cheques? How are they going to seek advice for bank-related questions?
I understand there are many factors that go into the decision to close a business.
However, I just don’t understand bank closures, especially in rural communities, where some residents may not have transportation to another town to do their banking or access to reliable internet to take advantage of online banking.
Like local residents, business owners are also going to struggle with the lack of a proper bank in town. At the end of the day, when merchants have cash from a full day’s work, where will they make the deposit? Will they be expected to keep that money on hand for longer periods of time? That seems needlessly unsafe.
I’m sure the citizens of Harriston will find alternative banking options, but the inconvenience alone should be enough to make the banks think twice before leaving rural communities.
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A number of businesses in Wellington County are celebrating big anniversaries this year.
Wilmot Financial Services Inc. is celebrating its 25th anniversary. The business is located at 181 St. Andrew Street E. Unit #6 in Fergus.
North Wellington Co-Operative Services Inc. is celebrating its 75th anniversary this year. On July 13 all four branches will be holding a barbecue from 11am to 2pm as well as offering sales and specials. The co-op’s headquarters is in Harriston, but there are three other locations: Durham, Hanover and Mount Forest.
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Palmerston has a new computer service, sales and repair business. ID Computer Services is now open at 125 Main St. E. in Palmerston and is owned and operated by Ian Mead. The business is open seven days a week.
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Nick Martin has taken over Parker Meats Custom Butchering of Fresh and Frozen Meats. The business is located at 7465 Wellington Road 12 in Alma. It is open from 8am to 6pm from Monday to Friday and 9am to 3pm on Saturday.
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Email questions and/or news tips to businessleader@wellingtonadvertiser.com.
