Chequing out: Scotiabank closing 2 Cape Breton branches

Two N.S. banks closing next year The Scotiabank branches in Glace Bay and New Waterford, both in Nova Scotia, will be closing in 2024.

Scotiabank branches in Glace Bay and New Waterford, N.S., will close in November 2024.

The closures are part of a decision by the bank to consolidate a series of branches across various markets, including New Brunswick and Nova Scotia.

“It’s going to be damaging for Glace Bay,” said Camille McMullin, a business owner in the area.

Many people in both communities are disappointed about the closures, especially seniors.

“They’re used to coming to their bank and dealing with the people that have been here for so long and they’ve made these relationships,” said Ken Tracey, Cape Breton Regional Municipality councillor.

There is a long list of closures on the mainland Nova Scotia, including in Halifax.

According to signage, Annapolis Royal, Bridgetown, and Shelburne branches are also scheduled to close in 2024, while the branch in Pugwash, N.S., will shut down next June.

Scotiabank will also be shuttering its location in McAdam, New Brunswick, and several branches in Newfoundland.

“With customer preferences changing, and more day-to-day banking being done digitally, we are continuing to evolve how we serve our customers and invest in areas that make it easier for our customers to bank with us from wherever they are," Daniela Da Silva, senior manager with Canadian Banking Communications.

Camille McMullin and Jovita Hynes, co-owners of Vintage Jewellers in Glace Bay, are now looking to do their banking elsewhere and they are worried what this closure might mean for business in the downtown area.

“There's not many businesses left on Commercial Street and with the bank closing, that’s one other business that’s not going to be here, so it’s going to affect us a lot,” said Hynes.

The bank wouldn’t say if any jobs would be lost as a result of the closures.

For more Nova Scotia news visit our dedicated provincial page.