Many residents of Rockyford may be shopping for a new place to bank, after CIBC announced they would be closing the local branch.
“CIBC has been a part of our community for 90 years. The current building they are in is a historical building in Rockyford, It was actually dragged here by horses from Strathmore across the prairie,” said Burke. “There is lots of history, and the community is not happy with the decision.”
He said the village learned the bank wants to merge the branch with the Strathmore branch. There are three staff members at the Rockyford Branch. The overall feeling from residents is they are not interested in the merger.
“CIBC is a partner in our community and we would like to see it that way,” said Burke.
“I think it is the same old thinking with these large companies, I don’t think there is much consideration on the impact it has on the community. I think the bottom line is numbers. At the same time, companies like CIBC have to realize the negative impact it has on smaller communities when they make these decision,” he said, adding he doesn’t think the company realizes the fall out from closing the branch. “There have been a significant amount of people who have left CIBC since its announcement.”
Alberta Treasury Branch and the Chinook Credit Union both have a presence in the community, and last Friday Chinook Credit Union held a community meeting in the village to affirm its commitment to the community.
One customer that is seriously considering its next move is the Village of Rockyford itself.
“The Village of Rockyford has banked with CIBC for 90 years. When I talked to the southern Alberta vice president (of CIBC), I said ‘you guys are leaving us, and you have not given me any reason why the municipality should follow you and continue banking in Strathmore?’”
“As a municipality we are reviewing our financial needs as well.”
