Islanders protest closure of only bank

Grand Mananers rallied on May 19 and 20 in an ongoing effort to save banking services on the island, holding a public meeting and a protest at the bank.
Scotiabank announced in January that its island branch would close on August 24. No specific reasons have been provided, and a telephone conference call left listeners frustrated as their questions weren't answered, and they were repeatedly encouraged to use digital banking. The next nearest branch in St. George is a nine hour round trip away by ferry. The question of access to and safe storage of cash for businesses and individuals is unresolved. The village council has been seeking another financial institution to set up on the island but has had no luck.
Now, a renewed effort is being spearheaded by Gregg Russell, who has been following the complaints process from the local branch, through the Financial Consumer Agency of Canada (FCAC) and the bank's complaints department. It was prompted, he says, by seeing a woman visit the bank with her wheelchair and pondering how she and others with similar needs would cope with a mainland trip for their banking. "At first it made me sad," he says. "Then I got pissed off." He decided someone needed to do something, "and I guess that's me. And I've never stopped." Although he is a village councillor, Russell wants it understood that he's acting as a concerned citizen and not representing the council.
The branch staff cannot resolve the issue, as they had no role in the decision. Russell received a standard response from FCAC: They do not investigate a bank's decision to close a branch. He contacted the bank president's office, which responded, "This was not an easy decision for us, but one necessitated by the rapidly changing banking landscape in Canada." He asked for a meeting with the president or a senior manager in the complaints department but was told neither meet with customers. After a series of emails and phone calls he has a file number and a case manager but no answers.
In Toronto with his grandson on April 29, Russell made a sign describing the situation and spent two hours standing outside Scotiabank's head office. He says many people stopped to read it and were supportive.
Since then he has been working to get media attention, believing banks to be very sensitive about image and public pressure, and he hopes more will result from future protests in Fredericton and Saint John. He has approached the island's MP, MLA and the Saint John Chamber of Commerce for support, pointing out to the latter that Grand Mananers spend a lot of money in Saint John. He also hopes to get a meeting with someone from the Department of Finance.
"We have an emergency," he says. "If we do nothing, it will close -- if we do everything we can that's ethical and legal it might stay open. Grand Mananers will not take this devastating decision lying down."
On May 19 Russell hosted a public meeting at the school, which 150-200 people attended. With CHCO TV livestreaming, he summarized his efforts to date and likened having no bank to having no post office, police or hospital. He asked the branch to forward the livestream link to bank executives.
Selena Leonard spoke for small business owners. Both of her family's enterprises use cash, and one is seasonal and cash only. She outlined the time and weather concerns involved in a mainland trip. "If I don't do what I can to help, I become part of the problem," she said.
Carole Guptill spoke on behalf of seniors, echoing the logistical problems of going to a mainland bank and pointing out that family members might have to take a day off work to drive them. Of the push for digital banking, she said, "To many seniors, Internet banking is like an alien world. They know it's there but find it confusing." She added that seniors like to have some cash, whether a few dollars for a community donation or a $50 bill to help out a friend. "E transfer just doesn't cut it," she said.
On May 20 at noon, about 100 people assembled along the road in front of the bank with a variety of colourful signs for a peaceful hour long protest. "I'm speechless" at the turnout, Russell said. "I know the passion Grand Mananers have for this. The message is going out to Scotiabank. The executives will know where Grand Manan is. Our only chance of success is to create enough public pressure to get them to change their minds."
Russell points out the bank's corporate governance documents mention honouring commitments to communities and engaging with shareholders. The board members "have to talk to me as a customer," he says. "We need to get to that level." A petition started at the meeting will be sent to the board of directors. Those signing ranged from Grade 12 students to seniors in their late 80s. Many are lifelong customers claiming over 50 years of relationship with the bank.
MP John Williamson writes: "I'll continue to voice the concerns of Grand Manan families and businesses about Scotiabank abandoning the island community. It's a disgraceful move by an out of touch bank. I've specifically called on Finance Minister Chrystia Freeland to halt this bank closure altogether." He says he's discussed the closure's negative impact with Scotiabank and FCAC and will continue to do so. "My next move is to contact Scotiabank President and CEO Brian Porter directly. He has Maritime roots and might understand us better than the bank officials making the misguided decision to abandon Grand Manan. I applaud the island community for its determination to save the bank branch and I will keep working with [them]."
MLA Andrea Anderson Mason could not be reached before deadline.
"The most important person is you," Russell tells islanders. He encourages people to write their MP and MLA and to spread the story. "You've got to do something. You can't just talk about it. This will only work if we have a large number of islanders and island friends participate. The media love large numbers, and the bank hates them."
Russell's message to the Scotiabank decision makers is: "As soon as you announce the bank will stay open, all further [protest] action will cease."