The Laurentian Bank branch in Lachute has permanently closed, ending the financial institution’s branch-based banking services in the community.
Located at 470 Rue Principale, the branch was among 55 Laurentian Bank locations across Québec that closed at 4 p.m. on Friday, November 6, as part of the bank’s transition following its acquisition by Fairstone Bank and the sale of its personal and small-business banking portfolios to National Bank of Canada.
Fairstone’s acquisition of Laurentian Bank was completed on Sunday, November 1, with the deal publicly announced the following day. National Bank acquired Laurentian Bank’s retail and small- and medium-sized-business banking portfolios, while Fairstone acquired all of the bank’s outstanding common shares.
Beginning on Monday, November 9, former Laurentian Bank customers transitioned to National Bank’s services, gaining access to its branch and ATM networks. Eligible customers were to receive new National Bank debit cards, while existing Laurentian Bank credit cards remain operational.
Direct deposits and pre-authorized debits linked to customers’ Laurentian Bank accounts are being redirected to their new National Bank accounts for up to six months. However, recurring and post-dated bill payments set up through Laurentian Bank were not transferred and must be re-established with National Bank.
Customers are encouraged to update their banking information with employers and service providers before the temporary redirection period ends.
Founded on May 26, 1846, as the Montréal City and District Savings Bank, Laurentian Bank has a history spanning 180 years. Established by Bishop Ignace Bourget and 15 prominent Montréalers, the institution adopted the name Laurentian Bank of Canada in 1987 and developed a strong presence in Québec.
Although its retail banking operations have ended, Laurentian Bank continues operating as a specialized commercial bank under Fairstone Bank’s ownership, with its head office remaining in Montréal.
