IGNACE — Municipal officials were recently informed that the Alterna Credit Union location in the town will be closing in September.
During a recent council meeting, the township was informed that the Alterna Credit Union will be closing its door on Sept. 15, leaving several residents concerned about the impact this decision will be on the town.
The credit union said it has 46 locations across Ontario after a recent partnership agreement with Quinte First Credit Union and PACE Credit Union. However, the majority of these credit unions are based in Southern Ontario.
Five branches are operating in Northwestern Ontario, including Ignace, Fort Frances, Rainy River, Thunder Bay, and Dryden.
With the Ignace branch being the last bank to operate in the town, upon closure, residents have been directed to go to the Dryden branch to continue with their banking needs.
“Council asked senior staff to set up meetings for a dialogue with Alterna officials on how to potentially mitigate negative impact and look for solutions both short term and long term regarding potential part-time hours, ATM access or other alternatives to banking in the community,” Ignace interim mayor Kim Baigrie said in a statement.
Officials with Alterna have yet to comment on why the Ignace branch is set to close.
