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Deseronto to lose its only financial institution

By Kate Shumakova [1]

BELLEVILLE – Deseronto’s CIBC branch will be closing its doors in August, forcing customers who want to bank in person to drive 15 km to Napanee or 30 minutes to Belleville.

After more than half a century in the town, CIBC said it decided to close the branch and sell the building on Main Street. The decision was announced in December, just before Christmas.

Norman Clark, mayor of Deseronto, hopes the bank will change its mind or delay the closure.

“It was clear from the initial meeting that their mind was made up. But I believe in miracles and I’m hoping that we will have a miracle in Deseronto,” he said.

Some other financial institutions offered their services to the town, Clark added.

“We certainly have an interest shown from other financial institutions. They are not committing themselves but they are saying ‘Let us know what happens after. Maybe we can help’.'”

It is still not clear whether the bank will keep the ATM in town.  CIBC representatives will be holding a public meeting with residents Thursday night.

In November 2014, the TD Bank closed its Marmora branch, but left an ATM.