McAdam, N.B. Scotiabank branch closure first of many in Maritimes

Another small community in the Maritimes is about to lose its only bank.

Scotiabank confirms it will close its McAdam, N.B., branch next spring, on June 4, 2024.

In a written statement Tuesday, Scotiabank says in-person banking will relocate from McAdam to its downtown Fredericton branch, about an hour away. Scotiabank cites a shift to online banking as one reason for the decision to leave McAdam.

In recent years, Scotiabank has closed branches in New Brunswick communities where it was the only local bank: including: Bath, Chipman, Hartland, and Grand Manan.

When asked if any other branch closures were planned in 2024 for the Maritime region, Scotiabank responded: “After careful consideration we have made the difficult decision to consolidate a series of branches across various markets, including New Brunswick, Nova Scotia, and Prince Edward Island, and relocate our in-person services to other branches in the area.”

Scotiabank wouldn’t elaborate about what other branches may be closed, but said customers would be notified by mail before the end of October.

For more New Brunswick news visit our dedicated provincial page.