Mr. John Bryden (Hamilton-Wentworth)
Mr. Speaker, today the Royal Bank branch in the village of Lynden in my riding is closing its doors after 92 years of continuous operation. It is a move that will seriously affect the small businesses in the community, for the branch draws hundreds of people every week from the surrounding farms.
Royal Bank officials have admitted that the branch is profitable. Their decision to close was based on what they said was poor growth potential in the area.
They have turned a deaf ear to petitions, protest marches, extensive coverage in the local media and letters to both the bank chairman and president. They have insisted that bank customers remove themselves to a new drive-in branch in the city of Brantford.
It is ironic that this government yesterday declared a moratorium on closing rural post offices in order to preserve rural communities.
The Royal Bank received its original mandate, its charter, from the people of Canada. It is a pity that now it chooses no longer to listen to them.
Topic: Statements By Members
Subtopic: Royal Bank