News Releases

BMO Bank of Montreal and The Northern Village of Beauval today celebrated the official opening of a new banking facility.

Located in the Beauval Administration Building, the BMO Bank of Montreal Beauval Community Banking Outlet provides an alternative distribution channel for financial services to remote northern communities.  BMO staff and officials of The Northern Village of Beauval worked together to ensure that the banking facility met the requirements of Beauval and that the services are provided in a way that respects the community’s values and traditions.

“The Northern Village of Beauval has experienced many positive changes in recent years in terms of the development of better infrastructure and services,” said Joe Daigneault, Mayor, The Northern Village of Beauval.  “The highway system in the region strategically places Beauval as a service center for the region with access to all points in northwest Saskatchewan, which certainly strengthens its potential to advance commercially and industrially.  An alliance with BMO Bank of Montreal is a major factor in the creation of a true economy for our community and will definitely attract business and investment.  It is a well known fact that banks play an integral part in helping to establish an economy.  This is an excellent start to forming a basis toward our strategy to boost and strengthen our economy within the region.”

Under the terms of an alliance agreement, The Northern Village of Beauval will act as an agent to perform basic financial transactions during specific hours of service. BMO Bank of Montreal has trained employees of Beauval to deliver financial products and services.

Using a point of sale terminal, customers of the BMO Bank of Montreal community-banking outlet will be able to open bank accounts, deposit and withdraw cash and pay MasterCard bills.  Links to BMO Direct Banking for telephone and online banking enables community residents to complete more complex transactions such as taking out a loan or mortgage or purchasing investment products.

In addition to providing financial services, BMO Bank of Montreal is supporting community growth by offering personal banking seminars, workshops for small business owners, and trust and investment services.

“By establishing a banking alliance with The Northern Village of Beauval, we are laying the groundwork for a long-lasting, strong and valued relationship with the community,” said Ron Jamieson, Senior Vice-President, Aboriginal Banking, BMO Bank of Montreal.  “The Banking Outlet will not only help contribute to the economic strength and development of the Beauval community as a whole, but will also help fulfill and nourish the dreams and goals of its people.”

The Beauval Community Banking Outlet is the fifth such outlet to be opened by BMO Bank of Montreal, the second in Saskatchewan.  In addition, BMO Bank of Montreal has 12 full service branches serving Aboriginal communities across Canada.  Going forward, BMO will continue to forge alliances with Aboriginal communities to increase its distribution network to remote locations.

The Northern Village of Beauval is located on the banks of Beaver River in northwest Saskatchewan on Highway #165, 150 kilometers north of Meadow Lake.  The community has a population of approximately 1,000 people that includes the English River First Nation and 2 resort villages located nearby.  Beauval was established as an educational, trade and transportation center in the late 1800s and now serves as a hub for communities within a 100 km radius.  Commercial activity involves forestry, tourism, government services and a number of privately owned businesses.

BMO Bank of Montreal is a member of BMO Financial Group, one of the largest financial services providers in North America.  BMO Financial Group serves clients across Canada and in the Unites States through its Canadian retail arm, BMO Bank of Montreal, through its Chicago-based Harris Bank, a major U.S. mid-west financial services organization, BMO Nesbitt Burns, one of Canada’s leading full-service investment firms, and Harris Nesbitt, BMO’s U.S. investment operation.

-30-