Springwater Shocked by TD Bank Announcement Regarding Closure of Elmvale Branch

Springwater Shocked by TD Bank Announcement Regarding Closure of Elmvale Branch
Posted on 11/07/2017

Township of Springwater / November 7, 2017 – The Township of Springwater was shocked to learn that the TD Bank will be closing the doors to its Elmvale Branch on May 11, 2018.

This closure will force hundreds of Springwater residents and businesses to make the drive to Wasaga Beach, Midland or Barrie to do their banking.

“As the only bank in the Township, this will create undue hardship for the residents of Elmvale,” says Springwater Mayor Bill French. “We are very disappointed in their decision to close their doors after more than 100 years in the community. This move will leave hundreds of customers stranded without access to a local financial institution. Many people do not have access to high-speed internet service, making it difficult for them to do their banking online; whereas others prefer the face to face interaction they receive when completing transactions at the local branch.”

“The closure of TD Bank will have a devastating impact on our local businesses,” says Al Pontes, President of the Elmvale BIA. “Our local businesses are successful, largely due to the fact that our community provides a range of services, none more crucial than our bank. The bank brings many people from the surrounding rural area and as far as Wasaga Beach into Downtown Elmvale. While banking, they will often stop to pick up much needed supplies, meet with some of the professional services offered or have lunch at one of our local restaurants.”

TD Bank has indicated that letters regarding the closure have been sent to all clients of the Elmvale Branch. A town hall style meeting to discuss options for clients will take place in January. Anyone with questions regarding the closure are encouraged to contact the Elmvale TD Branch directly.