BMO Leaving Northbrook

Jeff Green | Mar 29, 2023

Just under two weeks ago, Addington Highlands Reeve Henry Hogg received a phone call from a Vice President of the Bank of Montreal.

“I was informed that the branch in Northbrook, which I have been told has been there for 58 years, is slated for closure. It is a done deal, I was told.”

Three days later, Hogg received a formal letter from the same Vice President.

“The letter said the same thing as she said in person. The branch is closing on September 29th. BMO will be holding a public meeting in May, but from what was said to me, the decision to close the branch will not be up for discussion. I don't know what they will talk about.”

Hogg informed Council about the closing at their March 21 meeting.

He said the Northbrook closure is not an isolated situation. Branches have closed nearby in recent years, including the CIBC branch in Tamworth and a branch in Marmora as well.

BMO has a branch in Tweed, which is where the Northbrook BMO accounts will be moved to.

Addington Highlands and North Frontenac residents who banked in Northbrook, will have to look to Tweed, Sharbot Lake, Madoc or Napanee for banking services.

“My concern is mostly with people who do not do online banking, and who many not have access to a vehicle, a senior at Pine Grove apartments for example, who walked to the bank. What will be the option for them?” he said.

Hogg added that Northbrook is the commercial hub of the township and that will not change, “but losing the bank diminishes Northbrook a little bit, which is regrettable.”

Hogg has put in a call to the Lennox and Addington County Economic Development department “to see if we can entice a credit union to open up in Northbrook, but I have not talked to anyone yet. I;m not that hopeful but we have to try to do something.”

The township does its own banking at BMO.

“We must be one of the largest customers at the branch right now,” he said.