Westminster Savings decision to close Shaughnessy Station branch

After careful consideration, Westminster Savings has made the very difficult decision to close our Shaughnessy Station branch in Port Coquitlam. This was certainly not a decision that we made lightly. The branch is expected to remain open until Fall 2019 and we want members and the public to have plenty of advance notice.

For credit union members, there will be no impact to any of your current banking arrangements, such as your account number, debit card, preauthorized transactions, or your cheques.

The decision to close the Shaughnessy Station branch was driven by multiple factors including:

  • the current location
  • the physical size and functionality of the branch
  • the continued decline of in-branch visits and transactions
  • the cost to upgrade the branch
  • the relative proximity to other credit unions and to other Westminster Savings branch locations.

If you are a regular visitor to or member of this branch, you are likely aware that the unionized employees at this branch have been out on strike since January 2019. While the timing is difficult, we have worked with the union for many years, and the fact that this location is unionized had nothing to do with the decision to close the branch.

You may also be aware that Westminster Savings recently submitted an application to our provincial regulator (FICOM) to potentially amalgamate our credit union with Prospera Credit Union. We hope to bring you more information about this potential amalgamation in the coming months and our decision to close the Shaughnessy Station branch is in no way related to this potential amalgamation.

Again, the Shaughnessy Station branch will not close immediately and is expected to remain open until Fall 2019. We will advise members of the final closure date as soon as we can. Click here for a full list of Westminster Savings branches that can assist you with your in-branch transactions.

We are currently reaching out to impacted members, including those with a safety deposit box at the Shaughnessy Station branch. If you have any immediate questions or concerns, please visit your nearest branch or speak to an agent at our Member Service Centre at 604-517-0100. If we do not hear from you, your account will be automatically assigned to another Westminster Savings branch. However, if you wish to choose where your accounts will be assigned, we will be more than happy to find an alternate branch that best suits your needs. If you wish to close your accounts, we will work with you in that regard as well.

Members’ financial needs can also be met on this website, through our mobile app and through our Member Service Centre by calling 604-517-0100.

We understand that this change may be inconvenient for some members, so please accept our sincere apologies for any disruptions this may cause. We will certainly do our best to try and make this change as easy as possible and we thank you for your understanding and support during this transition.