Downtown Conexus branch to close

The downtown Conexus Credit Union branch is closing. (Peter Lozinski/Daily Herald)

Once November rolls around, Prince Albert will only have one Conexus Credit Union branch.

Last Friday the credit union announced it would be consolidating its two locations into one in both Prince Albert and Moose Jaw. The decision was made after a review of the branch’s operations. The Prince Albert city centre branch will close permanently at the end of the day on October 31.

“We are seeing a trend in how our members are accessing financial services in the Moose Jaw and Prince Albert communities,” Conexus wrote in a message to its members.

“That trend is telling us that the need for two physical locations so close to each other is no longer an effective way to serve our members and as a member-owned financial co-operative, we need to change with you.”

Senior vice president of retail banking, Jacques DeCorby, said the changes are reflective of bigger changes across the banking industry.

“In financial services in particular, transactions in retail locations are declining,” he said. “That’s not specific to Conexus. It’s a common phenomenon … particularly with the decreased use of cash and cheques and the increased use of other payment options like credit and debit cards.”

For more on this story, please see the July 7 print or e-edition of the Daily Herald