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Canada Trust (ex Waterloo Trust)
#1
 I just got a letter from TD/Canada Trust that my branch at Belmont and Claremont is closing. That's the second "Westmount" branch they've closed in the past couple of years. (The first was at Westmount Plaza.) 

Ordinarily this wouldn't be news but this branch has some historical significance. When it opened in 1958 it was Waterloo Trust's first "neighbourhood branch" the first outside the downtown cores of Waterloo, Kitchener, Preston and Galt. It was also the first to have drive-through teller service. 

Waterloo Trust was bought by Canada Trust several decades ago and later became part of the TD Bank empire. The drive-thru has long been supplanted by an ATM and the branch apparently has now been supplanted by the Internet. 

The building itself still has a certain charm. I wonder what will happen to it.

See: Waterloo Trust and Savings Company Annual Report 1958 • Westmount Branch Office
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#2
On a related note, I understand that the Westmount Plaza branch was closed because it no longer was profitable. I wonder how many long time Waterloo Trust patrons who live in Luther Village switched to the Royal Bank because it was the only bank left in that plaza, or even remotely close to walking distance?
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#3
(05-21-2015, 09:20 PM)nms Wrote: On a related note, I understand that the Westmount Plaza branch was closed because it no longer was profitable.  I wonder how many long time Waterloo Trust patrons who live in Luther Village switched to the Royal Bank because it was the only bank left in that plaza, or even remotely close to walking distance?

Although I don't live in LVP, our main TD/CT branch was the one in Westmount Plaza. When that closed they offered to move us to a Beechwood branch that was several kilometers away. We refused and moved instead to Belmont Village because it was closer to where we live. Now we're being moved to 15 King St S. Ironically that's around the corner from the original Waterloo Trust branch that used to be at Erb and King and where I started as a customer back in the 1960s. Talk about coming full circle. [I left out a few Toronto branches in that circle as well as the old Waterloo Trust branch on Weber at Lincoln Rd, et al.]

Incidentally people at LVP don't need to go to RBC. Your Neighbourhood Credit Union has a small office there as well as at least one ATM. From YNCU's website: 
Quote:Luther Village residents can now bank onsite with YNCU!


September 14, 2012: YNCU has established a banking relationship with Luther Village on the Park retirement home in Uptown Waterloo, replacing another financial institution that pulled out earlier this year. Our presence to provide on-site personal banking services every Wednesday, in addition to placing a cash dispensing machine, is being warmly welcomed!  The ribbon cutting above took place on Wednesday, August 29th.  Our Uptown Waterloo team is very excited about bringing this new service to the residents, staff and friends of Luther Village.

P.S. The reference to "another financial institution that pulled out earlier this year" in the announcement is... [now wait for it...] TD/CT.
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#4
Is anyone else old enough to remember when Waterloo Trust and the local schools had "penny banks" for students?  Every week you could bring some change to school, put it into a deposit envelope and it would be deposited to your own Waterloo Trust savings account.  Great way to teach "thrift" to young kids (now there is a forgotten concept!).  Also a good way for Waterloo Trust to build the client base!
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#5
Well that sucks.

My wife and I are just about to move to the area, and I was actually going to move my services to TD for convenience sake. Guess i'll stick with RBC as i'll have to go uptown anyway. Are there any banks or credit unions still close to Belmont Village?
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#6
(05-21-2015, 09:20 PM)nms Wrote: On a related note, I understand that the Westmount Plaza branch was closed because it no longer was profitable. I wonder how many long time Waterloo Trust patrons who live in Luther Village switched to the Royal Bank because it was the only bank left in that plaza, or even remotely close to walking distance?

I heard that the mall was upping the rent in lease renewal so they decided to move out rather than lock in at a higher rate.
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#7
TD closing in Belmont Village is okay with me but I believe a lot of people will miss it. I live close by and it is often a busy destination.

A new owner could come in and put in another restaurant but that may be over saturation. There was an article in this months "Grand" magazine about Belmont Villages restaurant scene and seems to imply it's thriving.

What I'd really like to see is two or three stories of added living space on that side of the street. I think a few more people living there would make the "Village" more vibrant.

While they're at it, could someone please make an offer that can't be refused on the Belmont Hair Stylist property? That unit has great potential. Anyone know who owns it? I'd like to buy it.
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#8
Belmont Village needs something to help draw more traffic in the evenings and weekends. Saturday evenings and Sunday all day, the neighbourhood is dead. The restaurants close early or don't open at all on Sunday with the exception of Tim Horton's, there's not much to attract people to visit.

Some sort of cafe might go well in this space. Not another medical office or investment brokerage. There's enough of those nearby. As mentioned above, it would be nice if apartments were added above the businesses to give the area a bit more life.
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#9
(05-23-2015, 12:30 PM)kwliving Wrote: While they're at it, could someone please make an offer that can't be refused on the Belmont Hair Stylist property? That unit has great potential. Anyone know who owns it? I'd like to buy it.

Helen Kunda-Davenport -- since 1954. She was featured in a 2009 article in The Record (Belmont Village thrived while malls and suburbs grew.) She's obviously getting on in years. Last time I spoke with her a few years ago she seemed in good health and still happy to carry on in the business. But of course her circumstances may have changed since.
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#10
Lots of action at this site today when I passed by with several trades onsite. Does anyone have any firm details on what's going in here? Still a pub planned? Also, not sure this belongs in the "Economy" section anymore.

   
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#11
I thought the planned pub was going to be up and across the street where Lily Whites used to be?
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