The Credit Union in Wedgeport is planning to close.
According to Councillor Gordon Boudreau, the bank says the move is to remain competitive with other financial institutions as banking evolves.
The majority of transactions are now done online.
Similar changes, Boudreau says, happened in the region in Clare and Pubnico.
“A suggestion has also been brought forward to explore no-charge cash withdrawals for Credit Union members at the ATM at La Shoppe a Carl, which could help maintain local access to cash,” says Boudreau in a Facebook post.
Boudreau says to help you ease through this transition, there will be an information session.
Meantime, in a statement to our newsroom, spokesperson for Coastal Financial says the move comes after what they’ve observed in recent years.
“Over the past couple of 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.”
It means a closure on September 29, 2026.
Services will continue in nearby branches and they will expand their digital options.
“Coastal Financial is not reducing staff. Wedgeport staff will be reassigned to support key operational and member needs.”
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