NorthEnd and Core Area Complaints-No Banking

City's poorest areas suffer as financial services leave



By: Geoff Kirbyson

1:00 AM | Comments (2)




‘There’s a lot of aboriginal business that takes place at Main and Higgins. We have 500 students plus staff that are in the Aboriginal Centre on a daily basis. It seems like a logical place to be’ -- Rhonda McCorriston (PHIL HOSSACK / WINNIPEG FREE PRESS)
The long and painful exodus of financial services providers from North Main Street is crippling the economic future of the downtrodden areas, local activists say.
Canada's Big Five banks closed down their branches during the past 25 years -- with the exception of a small Royal Bank branch across from the Centennial Concert Hall.
That leaves underground branches at the corner of Portage and Main and in Winnipeg Square and an Entegra Credit Union branch at the foot of the Disraeli Bridge to service one of the poorest but fastest-growing parts of town.
Rhonda McCorriston, economic development officer with Neeginan Development Corp., said a financial institution is critical for economic prosperity, particularly with a trio of area housing developments in various stages of completion and approval.
"There are no financial services branches in that area at all. Our community needs to see successful financial institutions and businesses in order to create momentum and more economic development opportunities," McCorriston said.
The void could have been filled by the Me-Dian Credit Union, which serves Métis and First Nations clients. It had planned at one point to relocate from Broadway to the new Winnipeg Regional Health Authority complex on Main Street just south of Higgins Avenue, but was unable to find suitable real estate.
Don Robertson, spokesman for Me-Dian, said its members passed a resolution to move to Main Street at its annual general meeting five years ago. But with construction costs spiralling upward ever since, the board of one of the smallest credit unions in the province decided to look at other less expensive expansion options.
McCorriston said she would prefer having an aboriginal credit union move into the neighbourhood, but she thinks a business case can be made for any financial services provider.
"There's a lot of aboriginal business that takes place at Main and Higgins. We have 500 students plus staff that are in the Aboriginal Centre on a daily basis. It seems like a logical place to be," she said.
Ross McGowan, president and CEO of CentreVenture Development Corp., said he was disappointed Me-Dian couldn't make a go of it on Main Street.
McGowan isn't giving up, however. He said he's open to incorporating Me-Dian or another credit union in a subsequent project.
Peter Enns, CEO of Crosstown Civic, said mothballing its Main Street location had nothing to do with its dedication to downtown. It already had two locations within a few blocks of that branch and wanted to expand to parts of town where it didn't have a presence.
"We were too heavily skewed to the downtown area. We had large pockets of the city that were unrepresented. The entire southwest quadrant was not being conveniently served. We think downtown has a tremendous future. We were just disproportionately represented there."

Yes it would be nice to see a native or metis based institute fill the void , after the main line banks pulled out .

Why would the 1st thought be to build a new building? Couldn't a small area in that beautiful wig wam building be the perfect place to put in a small set up?
How about where the Freight House Community Center is located? Another perfect area!

Or even better, take up some of the ground floor space at the new WRHA building as I think that there is to be some "retail" space available there. And isn't there still a WPG Police Credit Union at the corner of William and Princess across from RRC? Might be a good relationship builder to be more involved in the aboriginal community!!!

Maybe someone should ask why the banks and CU's have relocated out of the area. Go into one of the financial institutions in the inner city and you'll quickly understand.

There are more than just aboriginals and aboriginal businesses along north main....btw the Freight House is nowhere near Neeginan....And the "wigwam" structure that is discussed? That is Thunderbird House, not for banking but for ceremonies....

CIBC had a huge client base when they were located on 888 Main....it was not just our area that was affected by the losses of community banks as this was a city wide action....a country wide action....yes, redlining has occured in my area but getting insurance and a mortgage is nowhere near as difficult as it was twenty years ago such are the changes that our area has brought about...we have a ways to go but positive things are happening...

i really do get tired though of the assumption that it is the aboriginal community that is the leading business group to be catered to on north main....btw I always thought north main was main north of Redwood or Mountain.....man, there is always so much latitude when it comes to designations of areas in this town....

I was thinking of a banking institution specifically aimed at the aboriginal market, if it is needed? Perhaps it isn't a problem!
I vaguely remember complaints as the banks closed up in the north end. My B of Montreal was at McGregor and Mountain, my grandfather dealt at the CIBC on Main near Selkirk, there was a trust company at main and Cathedral National Trust? There was a Bank of Montreal at Mountain and McPhillips and there had to be others in West Kildonan.

One of the Aboriginal Credit unions should have a spot in the neeginan area for sure...I just get disappointed sometimes at the state of our part of main, north of higgins to Selkirk.....too many damned clinics and pawn shops....and grotty bars and substandard shopping like at California Fruit.....

Sad to say average mean income dictates this .

Pavolo wrote:Sad to say average mean income dictates this .

no it doesn't

scum bags who have no respect and choose to not pay their bills, or steal outright are the reason for it.

One of those "prime" aboriginal centres is the Carmel Clinic...which we just renovated for them a couple years ago.

In the 8 months we were there...we had 6 (that's SIX) breakins, with thousands of dollars of material & tools stolen...not to mention the repair costs for damage done.

So a bank in that area...has to pay insurance. Do you have any idea how much insurance for a bank in that area is? It's outrageous. And you're not allowed to put armed guards in (not that it would make a difference).

average/mean income is a by-product of a lack of drive/initiative/employability. There are THOUSANDS of aboriginals who hold good-paying jobs, and pay their bills...and they CHOOSE not to live in the slums.

Ideally...the city should expropriate that whole area and turn it into something viable...though they know it would just push the scum somewhere else.

"Ideally...the city should expropriate that whole area and turn it into something viable"

LOL one of the potential candidates for mayor in 2006 suggested bulldozing it and the public errupted...

I do not understand how their can be 6 break ins. No security? One would assume the building would be a target for drugs!

rosencrentz wrote:I do not understand how their can be 6 break ins. No security? One would assume the building would be a target for drugs!

The security system had not been installed yet...the place was under renovation.

No drugs in the building then either, as noone was actually using it except us. (I don't think there's drugs in it now...it's the administration building for them...not the clinic itself).

There are basement windowwells with pits at the sidewalk. 3 times they broke in through those...mostly stole tools & copper pipe.

Broke through the back door once (it was glass), and through two different front windows at other times.

Ironically...that building used to be a bank. When the bank closed...they had left an ATM machine in the wall facing the street. Apparently, someone had broke into through the back door and set up equipment enough to break into the ATM machine from behind it. Got away with several thousand dollars...at least that's what they told us when we first started the renovations.

AGEsAces wrote:

Pavolo wrote:Sad to say average mean income dictates this .

no it doesn't

scum bags who have no respect and choose to not pay their bills, or steal outright are the reason for it.

One of those "prime" aboriginal centres is the Carmel Clinic...which we just renovated for them a couple years ago.

In the 8 months we were there...we had 6 (that's SIX) breakins, with thousands of dollars of material & tools stolen...not to mention the repair costs for damage done.

So a bank in that area...has to pay insurance. Do you have any idea how much insurance for a bank in that area is? It's outrageous. And you're not allowed to put armed guards in (not that it would make a difference).

average/mean income is a by-product of a lack of drive/initiative/employability. There are THOUSANDS of aboriginals who hold good-paying jobs, and pay their bills...and they CHOOSE not to live in the slums.

Ideally...the city should expropriate that whole area and turn it into something viable...though they know it would just push the scum somewhere else.

Funny my Bank Manager told me that there was not enough on deposit when they closed the CIBC branch at the Clinic because people in the area do not make enough to save or deposit . hence Mean Income of the area. Good Idea let expropriate then we could build another parking lot .

Pavolo wrote:

AGEsAces wrote:

Pavolo wrote:Sad to say average mean income dictates this .

no it doesn't

scum bags who have no respect and choose to not pay their bills, or steal outright are the reason for it.

One of those "prime" aboriginal centres is the Carmel Clinic...which we just renovated for them a couple years ago.

In the 8 months we were there...we had 6 (that's SIX) breakins, with thousands of dollars of material & tools stolen...not to mention the repair costs for damage done.

So a bank in that area...has to pay insurance. Do you have any idea how much insurance for a bank in that area is? It's outrageous. And you're not allowed to put armed guards in (not that it would make a difference).

average/mean income is a by-product of a lack of drive/initiative/employability. There are THOUSANDS of aboriginals who hold good-paying jobs, and pay their bills...and they CHOOSE not to live in the slums.

Ideally...the city should expropriate that whole area and turn it into something viable...though they know it would just push the scum somewhere else.

Funny my Bank Manager told me that there was not enough on deposit when they closed the CIBC branch at the Clinic because people in the area do not make enough to save or deposit . hence Mean Income of the area. Good Idea let expropriate then we could build another parking lot .

the bank ilegaly closed that branch though as the law says they have to consult with the area befor they make a desision like this.. they told us after the decision was made that it was happening since cibc pulled out main st from the under pass north has realy sliped into a slump

AGEsAces wrote:

rosencrentz wrote:I do not understand how their can be 6 break ins. No security? One would assume the building would be a target for drugs!

The security system had not been installed yet...the place was under renovation.

No drugs in the building then either, as noone was actually using it except us. (I don't think there's drugs in it now...it's the administration building for them...not the clinic itself).

There are basement windowwells with pits at the sidewalk. 3 times they broke in through those...mostly stole tools & copper pipe.

Broke through the back door once (it was glass), and through two different front windows at other times.

Ironically...that building used to be a bank. When the bank closed...they had left an ATM machine in the wall facing the street. Apparently, someone had broke into through the back door and set up equipment enough to break into the ATM machine from behind it. Got away with several thousand dollars...at least that's what they told us when we first started the renovations.

the people breaking in with tools to steel money from the atm haha i doubt that was people from the area doing that

the copper theifs woulda been local if u had gone to the scrap yard the next morning u probly woulda caught them

That may have been Mr Point and I think I do remember that being said at the time , Head office like every other bank has cut back all over since . Hell we only have the TD in Transcona the only traditional bank left .

This sounds like the Safeway on Ellice and Wall. People didn't patronize the store, so Safeway closed it and moved elsewhere. If people don't patronize the bank, then how or why should they stay in that location. Used to be and there are still many Ukrainian meat stores in the north end, why, because its full of Ukranians.

A bank is a business and they count on money on deposit to stay in business. Someone walking in to cash a cheque with no ID or account is not what pays the bills. If their deposits are small and their transaction costs are high, then why should they stay in an area. when the money mart type of operations starting opening, the left wing, milk sopping commie bastards complained about them. Can't make these folks happy.

Years ago (I don't know if the branch is still open) the B of M opened a small branch at Broadway and Maryland. It was a very sparse place that only cashed cheques as far as I know. They did this as a courtesy only I understand.`

there was always a line up in the cibc at 888 main to see the teller sometimes it took half an hr they slated reson or closng it was people used other brances to do their banking then that one... well then maybe they should have better hrs instead of closing at 4

Where is 888 Main Street? Was that in the Jefferson Street complex?
I remember a CIBC near Main 1 block from Jarvis.

We got $43,880 !

The CIBC on Main by the Mount Carmel Clinic closed shortly after the City/Province Welfare office that was next door to the bank closed its doors. When that office closed it doors the banks in that area became decidely slower in person traffic. This was also the deciding factor on why the RBC on Main & Selkirk closed. The only 2 financial institutes in that area now are both Credit Unions and the security it pretty tight at the one on Selkirk, I believe it is an Entegra CU.

karpathia is hqed on main and has been here over 100 years they opened their doors to anyone that wanted to move their cibc accounts to them after cibc pulled outa the area...