Downtown Kootenay Savings branch slated for closure

Kyra Hoggan
By Kyra Hoggan
February 13th, 2014

Kootenay Savings Credit Union will be closing its downtown Castlegar branch in early May, but leaving ATM and night deposit services at that location, according to vice-president of Marketing Dario Cescon.

Cescon said they’ll be consolidating their services at their new Crossroads branch, which opened in September 2011.

“We initially intended to keep both branches open,” he said, but explained they’ve found the bulk of their over-the-counter traffic is heading to the Crossroads location, while even more members are choosing to bank online, using computers, tablets or smart phones.

“Our in-branch traffic has changed quite a bit, even in the two years since we’ve opened our Crossroads branch,” he said, adding there has been a “dramatic” decrease in over-the-counter transactions. “More and more, people are looking for advisory services in the branch., and we’ll be able to coordinate that better out of one branch than two.”

He said the new building also houses legal services, an entire division of business services, wealth management and investment specialists, as well as financial planning, all under one roof.

“It’s a more complete offering,” he said. “And we’ll be offering six-days-a-week banking.”

He said the location is also more appealing and attractive, and its location in a commercial area is convenient for shoppers.

He said KSCU will retain ownership of the downtown building, which will continue to house administrative offices as well as the ATM and night deposit facilities.

He said it looks like two jobs will be impacted, but it’s unclear what that impact will be at this time.

“It just makes sense as a more efficient use of our resources – we certainly think we’re going to be able to deliver a better service,” he said, adding this may help pave the way for innovations as well, such as enhanced smart phone apps that will make banking all the more convenient for Castlegar residents.



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