Bank cites shift to digital banking; closure would leave CIBC as town’s sole full-service branch
RED LAKE, ON — Scotiabank says its Red Lake branch will close next spring, with operations to be consolidated at the Kenora branch by the end of May 2026. While the bank has not set a specific final day, it has begun notifying customers of the pending move.
“With client preferences changing, and more day-to-day banking being done digitally, we are continuing to evolve how we serve our clients and invest in areas that make it easier for our clients to bank with us in multiple ways,” said Katie O’Dell, Director of Canadian Banking Communications. “We are communicating this change to all affected clients and will be working with them to ensure a smooth transition. Our teams in Red Lake and Kenora are committed to assisting all clients with any questions they may have.”
If the closure proceeds as planned, CIBC on Howey Street would remain Red Lake’s only full-service bank branch.
What this means for customers
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Accounts & services: Everyday banking will continue through online, mobile, and telephone channels. Customers needing in-person support will be directed to Kenora Scotiabank.
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Transition help: Scotiabank says staff in Red Lake and Kenora will assist with questions, updating direct deposits and payments, and arranging alternatives for cash services.
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Local access considerations: Seniors, cash-heavy small businesses, non-profits, and seasonal workers who rely on over-the-counter services may face longer trips for branch-only needs.
Community impact & context
Red Lake’s service economy is closely tied to resource industries and tourism. The loss of a branch can affect cash handling, business deposits, and credit access, and may shift local spending patterns. Community leaders typically seek commitments around ATM access, community banking clinics, or mobile service days; Scotiabank has not announced such measures at this time.
Other recent regional closures adding pressure
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Ear Falls: Interfor’s indefinite sawmill shutdown has put additional strain on families and small businesses across the Highway 105 corridor.
Taken together, these closures heighten concerns about service availability and economic resilience in smaller Northwestern Ontario communities.
What happens next
Scotiabank says it will continue direct outreach to customers as timelines firm up ahead of May 2026. NetNewsLedger will follow up on closure dates, continuity of ATM access, and any community transition supports offered to Red Lake residents and businesses.
