BMO Withdrawing From Lunenburg

Posted on Wednesday, February 15, 2017 15:09 PM

A cornerstone of the Lunenburg downtown is closing.

Bank of Montreal on King Street will be shutting down this summer.

The announcement was made at the town council meeting Tuesday night.

Mayor Rachel Bailey says the news came as a surprise.

"We weren't given any advance notice or consulted on that corporate decision. But it does appear that the decision's been made and we certainly will be writing to express our disappointment."

Bailey says the town received a letter informing them of the bank's decision.

She says she feels for customers of the bank who may have to make new arrangements.

"Those who've been loyal to Bank of Montreal will have to consider that loyalty, I think, going forward - whether or not they're going to move with the branch or look for another institution that operates here in their hometown."

Bailey says they will contact BMO to learn the reasons behind the closure.

Calls placed to Bank of Montreal were not immediately returned.