St. George BMO branch to close in June 2026, frustrating residents and prompting political response

Casandra Turnbull

Managing Editor

The Bank of Montreal has notified customers and local officials that its St. George branch will close next summer, a decision that has sparked strong concern among residents, small businesses and elected representatives.

In a letter dated Nov. 24, BMO informed bank customers, include local MP Dan Muys, that the branch at 9 Beverly Street West will permanently close on Friday, June 19, 2026, with customer accounts being transferred to the Wayne Gretzky & Henry Street branch in Brantford as of June 22. The bank says customer account numbers, cheques, deposits and automatic payments will remain unchanged.

An information session is scheduled at the St. George branch for January 8, 2026 to discuss the consolidation directly with customers. This closure is one in a long  list of closures across Ontario scheduled for June 2026.

Some residents say they learned of the closure through word of mouth or social media before receiving any official notice.

“Apparently some people have received a letter… others like me have not received anything,” said Shirley Steedman, a long-time St. George resident and BMO customer. “This closure is totally unfair to all of our residents, current and future, small businesses, farmers, seniors, non-profits and more.”

Steedman said the closure will require many customers to travel to Paris or Brantford for in-person service, something she believes is unrealistic for seniors and residents who rely on face-to-face banking. She also raised concerns about mortgages, investments and safety deposit boxes, which cannot be handled through an ATM.

Residents are urging BMO to provide a temporary portable branch or satellite office. Steedman also noted that St. George is on the cusp of major growth, with “more than 1,300 homes” expected once sewer expansions are complete.

“That’s not very good for any businesses wanting to come to a new community with no bank,” she said.

Flamborough-Glanbrook and Brant North MP Dan Muys confirmed he learned of the closure only when he received BMO’s letter late last week.

“To date, I have not received any calls or emails from St. George residents, but I know those will be coming,” he said at the time of our press deadline. “I too have a BMO account and enjoy the convenience of this branch.”

Muys said he will bring local concerns to federal regulators and highlighted broader issues around competition in Canada’s financial sector.

“My own view is that a lack of competition in the banking, airline, grocery, telecom and other sectors means higher prices and poorer service to Canadian consumers,” he said. “Other jurisdictions have done a better job of managing competition laws to ensure consumer fairness.”

According to the Financial Consumer Agency of Canada (FCAC), federally regulated banks must provide six months’ notice when closing a branch in a rural area with no other deposit-taking branches within 10 kilometres.

Banks must also notify local government, publish notice in a local newspaper and outline what actions, if any, will be taken to maintain services in the area.

Residents have begun circulating contact information for BMO’s corporate office and encouraging the community to submit concerns directly to the FCAC.

Steedman said branch employees are “equally disappointed and affected,” and hopes the bank will consider interim measures rather than withdrawing fully for at least two years.

“Clearly they may be forced into this closure, but at a minimum they should provide a temporary portable office until this is sorted out,” she said.