Community banking services update

Starting September 28, 2020, CIBC will provide rural community banking services for the Government of Yukon. CIBC currently operates full-service banking centres in Whitehorse, Dawson City and Watson Lake, and will soon extend select financial services to Yukon communities.

Transitioning the government’s banking services

The Government of Yukon’s community banking services will transition from TD to CIBC in October and early November. The transition for each community will happen on a different date. CIBC will provide information on the change well in advance of it happening.

Banking locations

Full-service banking centres

• Dawson City
• Watson Lake
• Whitehorse

Rural community banking centres

CIBC will minimize disruption by providing select financial services to all community members. This includes people who do not have a CIBC bank account.

Affected communities

• Beaver Creek
• Burwash Landing
• Carmacks
• Faro
• Haines Junction
• Mayo
• Old Crow
• Pelly Crossing
• Ross River
• Teslin

Rural community banking services

The look and feel of your banking experience may be different, but access to basic banking services will continue. CIBC will communicate with your community about the transition well in advance.

Services

All members in your community will continue to be able to:

• withdraw cash from bank accounts; and
• cash cheques from the Government of Yukon.

Online banking services

You’ll be able to access online banking services if you hold an account with:

• Bank of Montreal;
• Bank of Nova Scotia;
• CIBC;
• First Nations Bank;
• RBC; and
• TD.

Your CIBC community banking agents will have devices available to help you with mobile and online banking. This includes services like:

• deposit cheques with e-deposit;
• paying bills online; and
• account balance inquiries.

These services will depend on the banking apps provided by your financial institution.

CIBC account holders

If you hold an account with CIBC, you’ll also be able to:

• deposit cash into bank accounts;
• buy Canadian and American currency bank drafts; and
• buy American currency up to $250 in Canadian dollars.

Some services may involve wait times or require identification, so check with CIBC before you go. Contact a CIBC full-service banking centre for more information.

Support for small businesses

CIBC will work with you to minimize disruption to your business. Contact CIBC to discuss your needs.

Support for First Nation governments

CIBC will reach out to First Nation governments to discuss how they can best address concerns in our communities. As well, contact CIBC to discuss your needs.

Tendering process

The Government of Yukon provides rural communities with the means to access banking services. Banking contracts are awarded through the government’s competitive tendering process to ensure value for money for Yukoners. When the previous contract for banking services ended, a new tender was issued and CIBC was awarded the contract.

Previous banking service provider

TD was the Government of Yukon’s banking service provider from 2008 to 2020.