Briefing

    What banking deserts mean for some of northern Ontario’s most vulnerable residents

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    In Atikokan, a township in northwestern Ontario, both TD and CIBC closed their local bank branches last year; only a small RBC branch is left. With no other accessible options, residents are left relying on debit-card cashback and expensive ATM withdrawals. In the past five years, it’s estimated that between 10 and 12 banks have closed in northern Ontario. Though that sounds small, in rural areas, a bank’s closure forces its customers to travel hundreds of kilometres to the next location. (TVO)

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