Merrickville's only bank closing in January

A customer leaves the Merrickville RBC branch on Wednesday. The bank is set to close on Jan. 27, 2023. (Nate Vandermeer/CTV News Ottawa)

The only bank in the village of Merrickville-Wolford will close on Jan. 27, 2023, the Royal Bank of Canada (RBC) has announced.

In an email to CTV News Ottawa, Regional Director of Communications Lucie Caron says RBC is consolidating the Merrickville branch into their Kemptville location.

"We recognize this change may be difficult for some of our clients," Caron wrote. "This decision was not taken lightly.  It is based on a number of key trends as well as data specific to this branch."

"Over the next six months, RBC will work one-on-one with each of our personal and business clients to determine what works best for them and to identify the nearby branch that best suits their needs," she said. 

The nearest RBC branches are located in Smiths Falls or Kemptville, a 15-minute drive to both. 

Merrickville residents using the branch on Wednesday said it was a sad day for the village.

"Merrickville is growing and it's such an important part of the community, so we feel really bad that it's closing," said Mary-Kate Laphen, who has used the branch for 28 years. 

"I understand there are issues with bricks and mortar costs and such but it's really important for a small community and a lot of people use the bank," she added. "Every time I go there, there is always people lined up. I'm very sad about it."

Laphen works as the town librarian, which does business with RBC and noted driving to Smiths Falls or Kemptville will be an inconvenience. 

"I have to do deposits for the library and stuff like that, and there are extra services that you need people for," Laphen said. 

Merrickville resident Dave Knapp says he has been a customer for 50 years, and will also be inconvenienced. 

"I prefer it to stay open but I guess Smiths Falls is my next option," he said. "The service has always been good here, lots of times quick in and out. Makes it a lot easier."

A notice was taped to the door of the Merrickville branch Wednesday, saying their presence in the community is changing, and that a community information session will be held on Aug. 25 at the Merrickville Community Recreation Centre. 

RBC noted factors in their decision to close the location included Canadians changing their banking habits by using more online or phone services, with fewer customers coming into branches. 

Three employees will be affected by the closure, with Caron adding they are, "Working one on one with them to find new roles within RBC that best suits their personal needs and career aspirations."

The first RBC branch opened in Merrickville around 1890, in a different location than the current branch. 

Merrickville becomes the third small town in the region to loose a bank in the last two years, with the RBC location in Metcalfe set to close on October 14, and South Mountain losing their Scotiabank branch in May of 2020.