credit union

A chance to get some questions answered about the closure of the Coastal Financial Credit Union in Wedgeport.

The credit union said all members are encouraged to attend, Monday evening.

It was in March when the bank announced its decision to close its doors.

According to Councillor Gordon Boudreau it is to remain competitive with other financial institutions and the majority of transactions are done online.

A spokesperson for the credit union said the move follows observations over recent years.

“Coastal Financial Credit Union has been paying close attention to how members bank, how services are used, what members are asking for, and how expectations are changing. Like many financial institutions, Coastal Financial is seeing more members use digital banking and a wider range of services that don’t require visiting a single branch.”

“As a result of this review, Coastal Financial made the decision to reorganize how it operates to better support members across all of its communities.”

The bank is expected to close in September.

The meeting is at 6:30 p.m. in the Wedgeport Fire Hall.