The Town of Petrolia has partnered with Scotiabank to retain the Automated Banking Machine (ABM) in the entry vestibule of the former Scotiabank site in Petrolia, and by Council approval, has purchased the 1911 historic building.
Staff have been working with the bank to confirm the availability of the ABM for their customers following the closure announcement. The Town of Petrolia is pleased to advise the public that the ABM will remain available and accessible to Scotiabank clients and the public. The ABM continues to operate without interruption, and without any reduction in service or hours of operation.
Through these discussions, the Town of Petrolia was provided with the opportunity to purchase the building. The Scotiabank property was recently appraised for $1.2 Million, and Scotiabank provided the Town of Petrolia with a purchase price of $200,000.
This purchase was discussed in-camera on May 27, 2024, at the regular meeting of council held at 7:00 p.m. in Council Chambers at Victoria Hall.
Following the agreement to purchase, Mayor of Petrolia, R. Brad Loosely, said, “The Town of Petrolia is very grateful for the years that Scotiabank has served Petrolia, and to the staff that have operated the branch over the years and served our residents very well. We are pleased to have had the opportunity to work closely with Scotiabank through their transition, and to have found a way for our community to retain the Scotiabank ABM services in Petrolia. We are excited to have the opportunity to utilize the facility in a meaningful way and thank them for their generosity in pricing, and for the opportunity to work together.”
As part of their departure from Petrolia, Scotiabank has been focused on leaving a legacy in the community and has been fully engaged with Town staff regarding the retention of the ABM and future of the building. The Town of Petrolia is dedicated to maintaining this historic facility and will seek heritage designation. Chief Administrative Officer/Treasurer, Rick Charlebois, will bring a report to Council with further information at a future date.
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