The Lake Cowichan branch of the Royal Bank of Canada is closing. (Google)

The Lake Cowichan branch of the Royal Bank of Canada is closing. (Google)

Lake Cowichan’s RBC branch will close in November

RBC says banking needs will still be met

RBC-Royal Bank of Canada has announced it is closing its branch in Lake Cowichan on Nov. 4, 2021, leaving the community with Island Savings as its only brick-and-mortar financial institution.

In a statement, RBC said bank branches remain a very important part of its presence in Canada.

“But at the same time, our branch network continues to change and evolve as we seek to serve our clients where and how they wish to bank,” the statement said.

“In some cases, this may involve combining branches, relocating certain branches or opening new ones. These decisions are made after careful consideration of how we can best serve our clients in their given market.”

RELATED STORY: ‘RENT BANK’ WOULD OFFER FINANCIALLY STRAPPED IN COWICHAN VALLEY RELIEF

The statement said that while RBC is closing the Lake Cowichan branch, it is excited to remain part of the growth in that community and will continue to have a dedicated mortgage specialist who lives and works there, as well as other employees working from home serving the bank’s existing and future clients.

RBC said none of the four staff at the branch will be laid off as they will be working in their same roles in another branch, or will be working from home.

“We are confident that our team will work closely with all clients to ensure they are welcomed to their new home branch, and that we continue to offer valued advice that meets and is customized to all their financial needs,” RBC said in the statement.

“In addition to mobile banking, online and telephone banking, video client meetings and ATMs, clients will continue to be served by mobile experts including financial planners, investment and retirement planners, mortgage specialists, commercial bankers and small business advisors who will meet with them where most convenient, such as at their homes, at the office or in a branch.”

RELATED STORY: COWICHAN GROUP TARGETS BANKS IN ENVIRONMENTAL PROTEST

Lake Cowichan Coun. Kristine Sandhu said council has not yet met to discuss the bank closure, but she’s a client of the branch and feels sad for the community with its loss, especially Lake Cowichan’s seniors.

“People will have to drive to Duncan to do their banking,” she said.

“I do a lot of my banking online, but many older people like to do their banking in person, and this will be a problem for many of them.”

Kendall Gross, president at Island Savings, assured the people of Lake Cowichan that the credit union remains firmly committed to the community, and its branch there will remain open.

“For generations, Island Savings has been providing personalized financial advice, friendly service and caring support for community causes in Lake Cowichan, and this won’t change,” he said.

“As a division of First West Credit Union, we are proud to provide members with the strength and stability of a large financial cooperative while using our local approach and knowledge to help our communities thrive.”



robert.barron@cowichanvalleycitizen.com

Like us on Facebook and follow us on Twitter

Banking

Just Posted

Kimberly Bussiere and other laid-off employees of Casino Nanaimo have launched a class-action lawsuit against the Great Canadian Gaming Corporation. (Chris Bush/News Bulletin)
Laid-off Casino Nanaimo workers launch class-action lawsuit against corporation

Notice of civil claim filed on April 6 at Supreme Court of B.C. in Nanaimo

Al Kowalko drives Sooke School District’s first electric bus that began operation in May. The board decided on June 15 that all future buses will be electric, asking the province for more funding to support the program. (Zoe Ducklow/News Staff)
Sooke school board agrees to make all future buses electric

Board to ask province to increase funding to cover the extra up front cost

Camper the dog was found Wednesday night by someone walking their own dog along Hollywood Crescent. She had gone missing after a violent attack on June 11. (Courtesy of VicPD)
Camper the dog found safe after fleeing violent van attack in Victoria

Camper was found on Hollywood Crescent Wednesday night

A lift on marine border restrictions by next summer would bring an economic gain to Greater Victoria through the cruise industry. (Black Press Media file photo)
Saanich calls for opening of marine borders by summer 2022

Council to ask feds to end restrictions in time to allow planning for next cruise ship season

In January 2019, Grade 5 students from Glenlyon Norfolk School, accompanied by Grade 11 student Anastasia Castro, gave a presentation to Oak Bay council seeking a ban on plastic bags in the district. (Black Press Media file photo)
Oak Bay set to survey businesses on single-use plastic products

Survey gathers information ahead of expected legislation on provincial, federal level

People line up to get their COVID-19 vaccine at a vaccination centre, Thursday, June 10, 2021 in Montreal. THE CANADIAN PRESS/Ryan Remiorz
Vaccines, low COVID case counts increase Father’s Day hope, but risk is still there

Expert says people will have to do their own risk calculus before popping in on Papa

Queen’s counsel Paul Doroshenko, a Vancouver lawyer, has been suspended from practice for two months after admitting that his firm mismanaged $44,353.19 in client trust funds. (Acumen Law)
High-profile B.C. lawyer suspended over $44K in mismanaged client trust funds

Queen’s counsel Paul Doroshenko admits to failing to supervise his staff and find, report the shortage

House Majority Whip James Clyburn, D-S.C., center left, reaches over to Rep. Maxine Waters, D-Calif., joined by Speaker of the House Nancy Pelosi, D-Calif., center, and members of the Congressional Black Caucus as they celebrate the Juneteenth National Independence Day Act that creates a new federal holiday to commemorate June 19, 1865, when Union soldiers brought the news of freedom to enslaved Black people after the Civil War, at the Capitol in Washington, Thursday, June 17, 2021. It’s the first new federal holiday since Martin Luther King Jr. Day was created in 1983. (AP Photo/J. Scott Applewhite)
Biden to sign bill making Juneteenth a federal holiday

New American stat marks the nation’s end of slavery

John Kromhoff with some of the many birthday cards he received from ‘pretty near every place in the world’ after the family of the Langley centenarian let it be known that he wasn’t expecting many cards for his 100th birthday. (Special to Langley Advance Times)
Cards from all over the world flood in for B.C. man’s 100th birthday

An online invitation by his family produced a flood of cards to mark his 100th birthday

FILE – Nurse Iciar Bercian prepares a shot at a vaccine clinic for the homeless in Calgary, Alta., Wednesday, June 2, 2021. THE CANADIAN PRESS/Jeff McIntosh
B.C. scientists to study effectiveness of COVID vaccines in people with HIV

People living with HIV often require higher doses of other vaccines

A 50-year-old woman lost control of her vehicle Tuesday, June 15, crashing through a West Vancouver school fence that surrounds playing children. (West Vancouver Police)
Driver ticketed for speeding near B.C. school crashes into playground fence days later

‘It’s an absolute miracle that nobody was injured,’ says Const. Kevin Goodmurphy

Dr. Réka Gustafson, who is British Columbia’s deputy provincial health officer, speaks during a news conference in Vancouver on April 8, 2015. THE CANADIAN PRESS/Darryl Dyck
B.C. public health officials prepare to manage COVID-19 differently in the future

Flu-like? Health officials anticipate shift from pandemic to communicable disease control strategies

Most Read