New Brunswick

Chipman's only bank closing its doors, merging with Minto branch

Chipman will be losing its only bank in the next few months and residents are not happy with the decision.

Village left with no banking options, will have to travel to Minto or Fredericton

Scotiabank will close the branch in Chipman and merge it with the one in Minto, 20 minutes away. (Shane Fowler/CBC)

Chipman will be losing its only bank in the next few months and residents are not happy with the decision.

Scotiabank will be closing the branch in October. After that, residents will have to go to Minto, which is 20 minutes away, to do their banking.

Bank customer and Chipman resident Cameron Thompson says he will be affected by the scheduled closure.  

"Going to have to go to Minto now to get cheques cashed and things like that so it's going to make it a little more difficult here," said Thompson. 

Jeremy Saulnier, who works at business next door to the closing bank says at least five jobs will be lost. 

"It's another loss for the community. I never expected this to be shutting down," said Saulnier.

"It's going to be difficult for older people, not being able to go and take out money, or anybody that wants to get their money. We'll have to go to Minto, or to Fredericton or Sussex, that's the closest other Scotiabanks."

Heather Armstrong, Scotiabank's director of Canadian banking communications, said in an email the decision was made to consolidate the branch in Chipman with our branch in Minto on Oct. 6.

Another branch in Fredericton, the Smythe and Dundonald branch will be consolidated with the King's Place branch on Sept. 9.

"We did not make these decisions lightly. While in each case, this process will involve closing one branch, our steadfast commitment to providing our customers with the highest-quality advice and service remains unchanged," Armstrong said. 

Village residents are planning to hold a meeting to see if there is any way the community can find a way to keep the bank from leaving town. 

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