Discussions

I am business owner downtown who has both business and personal accounts with Westoba. I am at the 10th St. branch numerous times a week with a teller doing bank transactions that cannot be completed through a bank machine or online. I also prefer to utilize the downtown businesses as much as I can because I appreciate when people frequent my business. Being able to walk to the bank is something I also enjoy and am not looking forward to having to drive to another branch, which is not as convenient, Eco-friendly or economical. I don't understand why the 1st St branch is more important to keep open. I thought that one might've been the one chosen to close if the decision to downsize was made. I guess by November I'll make the decision as to whether to stay with Westoba or move my banking to another financial institution.

I am seeing this as the Beginning of an End of Westoba But they way things have been going with Westoba, I am not surprised. Too bad, as they serve many smaller communities...

was disappointed to hear the downtown branch is to close. That is "my" branch and will be inconvenienced when I can no longer walk over to do some in person banking. I do use the Kirjaldy one as well but the downtown location is still the most convenient for me. It seems that building is worth the most money in terms of sale value and that is why it was chosen?

Switch to Crocus Credit Union. We did years ago and could not be happier. Service is far superior.

...I would imagine. The letter says they value you as a client but move on to another location. Deposit a check with a phone/banking but customer service takes a huge hit.

You would think that with their Corporate offices are there, you would think they would have a branch there.  
 
Wild.

It makes sense though. You have 3 branches serving how many people? Seems the average bank is 2 for Brandon. That one is downtown. It is hard enough to access downtown never mind when it is busy. Other two branches have ample parking and easy access.

I think they actually still have 3, its 4 including 10th St. There's one on 1st, 34th, and in the Corral Centre.

The downtown branch is the only one I used. I have been with Westoba for at least 20 years, but I will be moving my accounts to another credit union that has a downtown branch. What a ridiculous move.  
 
The 34th Street location and the 1st Street locations are both far out of my way, and I'm not going to travel all the way across town to use my bank when there are several downtown.  
 
When all of that new traffic starts moving down there from the development of 9th & 10th streets, they will regret this decision. I agree that this is a signal that all is not well in this organization. Time for a change.

I am sure they did study customer traffic and that branch was probably the lowest utilized. They know they will lose some customers but the cost savings will exceed the losses.

Myself, one other poster and at least a couple of dozen other businesses downtown use the 10th street branch for business purposes (deposits, change, etc.) - I wonder how many of those downtown businesses will switch as a result.  
 
If a few dozen businesses that use Westoba for banking, terminal services, etc. all decide to go with a different bank, that could be millions lost to them. As you said, they probably did some math - but I don't think foot traffic is the only statistic to look at.

i doubt that there are enough business concerns downtown to have any noticable impact on the credit union or on any bank. on the other hand i am involved with 4 accounts that i am wondering if i should move to another financial institution

You think they may have overextended themselves with their huge ( unneeded ) renovationso a few years back ? ? ?

braid said "You think they may have overextended themselves with their huge ( unneeded ) renovationso a few years back ? ? ? "

you mean the Skywalk to nowhere?  
 
I'm guessing they will get more money from the sale of 10th St than they are from walk in clients. But I agree, Westoba has made several bad moves in the last couple of years and I for one plan on moving my accounts.

...has been declining at a rate equal to their apparent growth I suspect. Westoba made it (relatively) big by providing a service above an beyond the Big Banks however that lead to some swelled heads who considered it fair to operate and charge equally. Unfortunately - they offer no where near what the services that the big guys can. In the process of moving now.

If I close my accounts, they have to pay out my share do they not?

If one has to close it is their choice. I would suggest that with online banking and ot

reduction of operating expenses gives more profit for the company... just maintain good customer service and everything will go well

Does anyone have any direct information (letter, email etc.) directed to clientele regarding the closure? Will they be transferring current accounts for customers to other Credit Unions? I have not received any notice, curious if others have.

Genevieve said "Does anyone have any direct information (letter, email etc.) directed to clientele regarding the closure? Will they be transferring current accounts for customers to other Credit Unions? I have not received any notice, curious if others have. "

If I hadn't read the paper, I would not have known about the closure. They have sent nothing

I received the letter from the Westoba CEO today. It says that there is a demand for more on-line services. Well, I use both the online service and the branch at 10th & Princess.  
 
Frankly, there are some things online service cannot do - things that only at teller can provide.  
 
Closing this branch is a HUGE mistake.

RC123 said "Switch to Crocus Credit Union. We did years ago and could not be happier. Service is far superior. "

Crocus is smaller, but they are solid, excellent service and have been around for a very long time. Just don't make the mistake of going to a mainline bank, watch the news and see how they are screwing clients and staff with their sell at all costs approach.

Looks like Westoba has a busy morning. This defies the quote "There is no such thing as bad publicity"

My mom only goes to this branch (10th and Princess) so she is very disappointed. Question: do you have to notify your employer that you are switching branch or will westoba transfer your banking information to another branch for you?

PreviaCab said "My mom only goes to this branch (10th and Princess) so she is very disappointed. Question: do you have to notify your employer that you are switching branch or will westoba transfer your banking information to another branch for you? "

Yes let payroll know. Switching branches you need to have the direct deposit updated to reflect what branch to send your money too. Same for the government.

Just talked to a rep from westoba CU. I was told that you just need to let them know which branch you want to transfer to and they will do the rest for you … account information and banking information. You do not have to notify payroll

Opustwo said "    Genevieve said "Does anyone have any direct information (letter, email etc.) directed to clientele regarding the closure? Will they be transferring current accounts for customers to other Credit Unions? I have not received any notice, curious if others have. " If I hadn't read the paper, I would not have known about the closure. They have sent nothing "

Got my letters in the mail today Dated last Friday.

I talked to Teleservice this morning and was told we DO have to notify payroll and any government of Canada offices (GST, PENSION etc) we get direct deposit from. We will have to provide the new transit number for whichever branch we choose. For automatic payment withdrawals the credit union does Smart Switch, so we do not have to change those oyrselves.

I have been a Westoba member for over twenty years.  
What has gone on there since the CEO changed a few years back is incredibly disappointing.  
Interest lending rates have increased, fee for service has increased yet service delivery has continued to decline.  
The credit union has gone through, and continues to go through a major restructure, and we the members suffer.  
While some services have increased- by that I mean online services, with a new(ish) website, a new app, and enhanced online services, the relationships Westoba was at one time known for have deteriorated. I don't know my loans officers or tellers anymore.  
The branch managers are spread too thing amongst different locations and the corporate office is now top heavy full of managers who have no real connection to the members.  
Along with the new way that Westoba has been advertising for the last couple of years this shows me that they are trying hard to compete with big banks and have forgotten completely about their rural connections, farm roots, and community.  
Building community , losing members every day should be their new slogan.