Locals who rely on the CIBC for their in-person banking in Hope will have to start making other arrangements by the end of August.

In a letter to its clients, the Hope CIBC said it will be shutting its doors forever on Aug. 21, 2025 at 1 p.m. All of its accounts in Hope will be transferred to the branch in Chilliwack on 9245 Young Road. 

"Clients will be able to continue to complete their day-to-day banking using one of our digital options, such as CIBC online, mobile and telephone banking. Or by visiting one of our nearby CIBC Banking Centres," the letter said. "Thank you for banking with CIBC. We look forward to continuing to meet your financial needs."

The letter did not specify a reason for its closure. The permanent closure means that only Envision Financial, a division of First West Credit Union, will be the only in-person bank in Hope. 

A resident posted a photo of the letter on Facebook and locals took to the comments to voice their disappointment and frustration over the closure. Some said they would switch to Envision while others claimed they had no interest in switching to the credit union. One local said they explicitly opened an account with CIBC to avoid doing their banking in Chilliwack. 

Furthermore, this news may be concerning to residents in Hope who are unable to drive or do not have easy access to transportation. 

According to the Financial Consumer Agency of Canada (FCAC), a "formal meeting between the bank, representatives of the FCAC and interested parties near the Banking Centre, to exchange views about the closure of the branch." FCAC has the authority to hold this meeting and it may require it if they feel the bank has "not sufficiently consulted the community in the area affected by the change." Individuals, or community representatives, can also send in a written request, that is not "frivolous or vexatious," for a meeting to the FCAC.

For more information, locals can contact FCAC at 1-866-461-3222 or visit fcac-acfc.gc.ca.

Letters can also be mailed to the commissioner to: Commissioner, Financial Consumer Agency of Canada, 427 Laurier Ave W, 6th Floor, Ottawa, ON, K1R 1B9. 

Are you a Hope local with thoughts on this? Email a letter to the editor to kemone.moodley@hopestandard.com.