Image: Google Maps

By Mike Vanden Bosch

Bank closure

Big 5 bank to close in Hope, citing ‘lower business volumes’

Mar 5, 2025 | 6:57 AM

HOPE — The Canadian Imperial Bank of Commerce (CIBC) has confirmed that it plans to close its branch on Wallace Street in Hope later this year, citing what it calls “lower business volumes.”

According to a statement from CIBC spokesperson Stephanie Marcus, the decision to close this specific branch at 413 Wallace Street comes after the bank determined the majority of its client transactions occur outside of the bank.

“The decision to close any of our banking centres is not taken lightly and we carefully consider all options before doing so,” CIBC said. “Our Hope Banking Centre has experienced lower business volumes for some time, and the majority of our client transactions take place outside of a banking centre, through mobile, online and telephone banking. As a result of this shift, we’ve made adjustments to our network.”

CIBC began notifying its customers in February 2025 and will continue to be served at its Chilliwack banking centres, located at 9245 Young Road and 5955 Vedder Road.

“We remain committed to meeting the needs of our clients, and keeping them informed of changes that may affect the way they bank with us is a priority,” CIBC said.

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A letter began circulating on Hope-area Facebook groups advising that CIBC’s Hope branch would close on Thursday, August 21, 2025, at 1 p.m. CIBC was provided a copy of the letter by Fraser Valley Today.

Comments in those same Hope-area Facebook groups say they plan to contact the Financial Consumer Agency of Canada to dispute the closure. FCAC has the authority to ask the bank to hold a meeting with CIBC reps, FCAC personnel and members of the public about the forthcoming closure. The letter provided to CIBC customers at the branch invites people to call the FCAC at 1-888-461-FCAC, or email fcac-acfc.gc.ca.