Clients typically bank on their financial institution to remain open and available close to home.
However, clients of Teulon’s TD branch will soon need to come up with other options to meet their banking needs.
The branch located at 96 Main St. in Teulon will be permanently closing on Friday, July 25 at 3 p.m. and moving to 396 Main St. in Selkirk.
Judith Dedrick-Williams, who has been a client of the Teulon TD branch for more than 30 years, was taken aback by the news.
She heard about the closure from another community member in November, and when she popped into the branch, she said the only indication was a small sign on the counter. She asked a staff member for more information and was told that the local branch would be merging with the Selkirk location.
A week later, a handwritten sign was posted in the window stating that the Teulon branch would be closing in July.
Then in mid-January, she received a letter in the mail confirming the closure. The letter also advised her that an information session about the bank closure will take place on Thursday, March 13 from 6 to 7 p.m. at Teulon Centennial Hall (14 Main St.). Dedrick-Williams plans to attend the session, and she hopes to see many other community members there as well.
“Basically, we’ll lose our identity. We’ll just be Selkirk TD — there will be no Teulon at all,” she said.
“What really bothers me is how they went about it — the total indifference on the part of the bank to the harm they’re causing their loyal customers. I feel so disrespected. It’s not just affecting individuals; it’s affecting businesses and clubs too.”
As an example, Dedrick-Williams serves on the Seniors’ Resource board and she’s also a member of the local Lions Club. Both organizations deal with TD, and some transactions require two people to be present in person. Once the Teulon branch closes, they would need to drive 25 minutes to Stonewall or 45 minutes to Selkirk to get to another TD branch.
“How are they going to do that in the middle of the business day?” she asked.
“If you have a cheque to deposit but you’re working during the day, good luck doing it. If you don’t have online banking through them, you’re going to have to wait until you’re off work to go to Stonewall or Selkirk.”
Teulon Mayor Todd Campbell acknowledged TD for its years of service in town noted that it means a lot to the community. He said the presence of the TD bank has not only provided financial services, it’s also been a factor in Teulon’s economic stability and growth.
The bank has helped families to buy homes, businesses to get started and students to save for post-secondary education. Campbell said it’s also provided jobs, sponsored teams and local events, and been a trusted source of financial guidance.
“If the bank leaves, there will be a loss of opportunity, security and trust. The Town of Teulon has a large demographic of seniors who do not bank online and requires a local bank to manage their finances,” he said.
“The businesses rely on the local bank because they understand their needs and situation better than any online bank. Families depend on the Toronto Dominion Bank to help them build their dreams.”
Campbell said the recent announcement regarding the closure of the TD branch in Teulon raises concerns for many residents who rely on the financial institution for their banking needs.
“The decision to close a bank branch is often driven by broader economic factors and market trends. Council is committed to advocating for the financial needs of our community. The presence of accessible banking services is crucial for our residents, and we recognize the importance of maintaining these resources,” he said.
“We are actively communicating our concerns, encouraging TD Bank to reassess their decision. Additionally, we will advocate to ensure that all residents have access to alternative banking solutions and resources.”
He encourages Teulon residents to share their thoughts and concerns at the March 13 information event. He also suggested contacting TD district vice-president Michael Warren at Michael.warren@td.com or the Financial Consumer Agency of Canada at 1-866-461-3222.
“Your input is invaluable during this time, and I encourage you to share your thoughts and concerns,” Campbell said.
“Together, we can navigate this challenge and continue to support the financial well-being of our community.”
Mick Ramos, TD Bank Group’s manager of corporate and public affairs for Western Canada, shared some perspective on behalf of the financial institution.
“After careful consideration, we’ve decided to close our Teulon branch as of July 25, 2025. Customer accounts will be transitioned to our next closest branch, located in Selkirk, which offers longer hours and a wider array of services,” he said.
“We continually assess customer demand for our branch network and adjust our operations accordingly. We look forward to welcoming customers to our Selkirk branch.”
Ramos said customers in Teulon can also continue to access EasyLine, EasyWeb and the TD mobile app for their banking needs, as well as other branches for in-person or virtual appointments.
“We’ll continue to provide the same level of service our customers have come to expect from us across this variety of channels,” Ramos said.
However, Dedrick-Williams foresees problems with those options for some Teulon residents.
“Like many towns, Teulon has a high percentage of seniors and this is going to impinge on them greatly. Some of them don’t drive and many of them do not work with a computer. It’s going to cause them a great deal of trouble and anxiety. I am a senior too, so it affects me,” she said.
“This is a great blow for the town. It will affect every citizen, not just seniors. When you talk about a community, a bank is essential.”
Although Access Credit Union has a branch in Teulon, Dedrick-Williams plans to seek other alternatives.
“I’ll probably be banking in Stonewall rather than Teulon. I’m cashing out all my investments with TD and I will be investigating other banks that are more stable,” she said. “I suspect there are going to be more TD closures.”
She pointed to recent news that Toronto-Dominion Bank was ordered to pay US$3 billion in fines to American regulators after pleading guilty to multiple charges, including conspiracy to commit money laundering.
At the same time, she questions why the Teulon branch was recently renovated prior to the pending closure.
And she encourages other Teulon residents to attend the upcoming information meeting on March 13 from 6 to 7 p.m. at Teulon Centennial Hall.
“If you want to know why they’re closing the branch and you want to express your opinion, you only have this meeting to do it,” she said. “If you don’t come out, then you really have no right to complain after the fact.”
