Courtesy: Town of Falher
January 15, 2025
Collin Lechelt
Regional Vice President
BMO Bank of Montreal
Colin.Lechelt@bmo.com
Subject: Closure of BMO Bank of Montreal – Falher Branch
Dear Mr. Lechelt,
On behalf of the Town of Falher Council, we are writing to express our profound disappointment and firm opposition to the planned closure of the BMO Falher branch. This decision is both shocking and disheartening, as it reflects a lack of understanding of the critical role this branch plays in sustaining our community and supporting its residents.
Council is particularly frustrated by the disproportionate effect this closure will have on the most vulnerable members of our community. Unlike urban centers with accessible public transit, Falher and the surrounding region lack such infrastructure. The closure of the Falher branch would require residents to travel over 45 minutes to Valleyview for in-person banking services—a journey that is neither feasible nor fair for seniors, individuals with limited mobility, or those without access to reliable transportation. These are the very customers who have relied on BMO for years, and your decision to close the branch amounts to a disservice to those who are most in need of accessible financial services in Northern Alberta.
Furthermore, the closure fails to account for the significant economic activity flowing through the Falher branch, much of it driven by large agricultural operations. These businesses, which contribute millions of dollars annually to your institution, depend on in-person services to manage complex financial needs, including loans, payroll, and investment management. Removing this access places an undue burden on these operations and sends a clear message that rural Alberta is not a priority for BMO.
It is important to understand that your decision will not only inconvenience residents and businesses but will also force many customers to reconsider their loyalty to BMO. The lack of viable alternatives within the region will undoubtedly drive customers to switch to institutions that prioritize their needs and maintain a local presence.
This closure is particularly concerning as it removes the last chartered bank from our region, leaving Father and the surrounding communities without access to critical financial services that only a chartered bank can provide. These services, such as business financing, investment products, and more comprehensive financial advising, are essential for the growth and sustainability of rural economies. The absence of a chartered bank in our region creates a financial void that will have longterm repercussions for residents and businesses alike, further eroding the economic resilience of Northern Alberta. BMO’s departure not only diminishes our access to essential financial resources but also sends a troubling message that rural communities are being left behind by national institutions.
The Town of Father Council strongly urges BMO to reconsider this ill-advised decision and explore alternatives that would allow your institution to continue serving our community. In the meantime, we formally request that representatives of BMO, including the necessary decision-makers, attend the next Regular Council Meeting on February 12, 2025. This will provide an opportunity for an open dialogue about the impact of this decision and to discuss potential solutions.
Small communities like Father are the backbone of rural sustainability in Alberta, and closures like this undermine efforts to support and grow these vital regions. We look forward to your response and expect a meaningful commitment to addressing our concerns.
Sincerely
Donna Buchinski – Mayor, Town of Father
On behalf of Father Town Council
cc: Financial Consumer Agency of Canada (FCAC)
