Scotiabank to close branches in Rosetown, Outlook and Spiritwood

Three small towns in Saskatchewan are preparing to lose their Scotiabank branches.

Scotiabank confirmed to 650 CKOM that it will be closing its branches in Spiritwood, Outlook and Rosetown before the end of 2024.

“With customer preferences changing, and more day-to-day banking being done digitally, we are continuing to evolve how we serve our customers and invest in areas that make it easier for our customers to bank with us from wherever they are,” the bank explained in a statement.

Bevra Fee, managing director of the Northern Lakes Economic Development Corporation in Spiritwood, said the move by Scotiabank will impact a lot of people directly.

“We have had the Scotiabank here for over 90 years, and it’s been a staple for businesses, farmers and residents of the town,” she said.

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“Spiritwood has a large drawing area, so it doesn’t just impact the 1,000 people in town; it affects a wide area.”

The next-closest Scotiabank for people in Spiritwood is located in Shellbrook, which is a 50-minute drive away. While it might seem like a logical solution to move Spiritwood accounts to Shellbrook, Fee said that’s not what Scotiabank plans to do.

“They advised (us) that they want to move their operations to Prince Albert. There is a Scotiabank in Shellbrook, but they’re not moving the Spiritwood accounts to Shellbrook,” Fee said.

“They’re moving them to P.A., which is farther, and I don’t know how that makes sense unless they have other plans for Shellbrook.”

Fee said the bank’s decision will negatively impact older people, who make up a large portion of the community’s population.

“Small-town Saskatchewan has a good population of older citizens who aren’t equipped to do online banking, and also are not equipped to drive to Prince Albert,” Fee said.

Fee said she sent an email to Scotiabank asking for a public, in-person meeting, but she said the bank stood by its decision.

She said others within the community are still trying to get Scotiabank to reverse its decision. A petition has been launched, along with a letter-writing campaign asking Scotiabank to reverse course on the closure.

Fee said the petition generated more than 300 handwritten signatures on its first day, and now includes 539 names.

Losing the bank would be a big loss for the town, she added.

“It’s a main-street business and has been very viable and valuable. It is never empty – there’s always customers in there. It’s just part of a long-term plan, I guess,” Fee said.

She added that the move could also hamper economic development in Spiritwood.

“To have them encourage people to drive to P.A. to do their banking, it means if people switch their accounts there, it’s going to encourage more people to do their business in P.A.,” Fee said.

“For a big bank to say, ‘We’re taking away your small town bank and you should take your business elsewhere,’ it’s just not the message of the day for a small town.”