The Kootenay Savings Waneta Plaza branch will be downsizing its office this October, according to president and CEO Brent Tremblay.
The property lease expires in October so after 33 years as a full service facility the branch will be reduced to ATM and night deposit services only.
“People will be disappointed but we didn’t make the decision easily but at the same time it’s a business decision,” he said.
Besides the Waneta Plaza branch, the credit union has two full service branches in downtown Trail and Warfield, which is a lot of offices for a 10-kilometre radius he added.
The branch was originally built to provide service and branch transactions to other branches before ATMs, interact, internet and telephone banking came into the picture.
“As banking habits have changed and the population of the area actually decreased slightly we can’t justify operating a branch in lease premises,” he continued.
“Everytime that lease came up to be renewed we had a look at that branch and as this lease was coming up, at the end of the day it was a business decision.”
Employees at the Waneta Plaza branch will have the opportunity to apply for new postings within the company or move into other positions based on seniority as per the union’s collective agreement.
More details will be sent to members as October draws closer. For more information contact Kootenay Savings at 1-888-368-KSCU.