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Request for Expression of Interest: Alternative Financial Service Provider

Posted on September 5, 2019
Request for Expression of Interest

The Corporation of the Township of Terrace Bay (the “Township”)—through the established Ad-hoc Alternative Banking Committee (the “Committee”), as approved by Township Council—wishes to fill the gap in financial services left behind from the Canadian Imperial Bank of Commerce’s (CIBC) departure from the community. As investment in the community continues, due in part to the foreign direct investment from the Aditya Birla Group (a Fortune 500 global conglomerate, headquartered in Worli, Mumbai, India) in the AV Terrace Bay pulp mill (AVTB), there remains a demand for locally-based financial services from residents, businesses, and non-for-profit organizations—this institutional presence being a vital component to the continued momentum of economic growth for Terrace Bay.

The purpose of this Request for Expression of Interest (REOI) is to solicit proposals from financial service providers interested in partnering with the Township to investigate any mutually beneficial arrangements to establish a local presence and provide all relevant financial services that are no longer available locally.

Please check back periodically for addendums to the REOI, as will be linked below.


For any questions or additional information, please feel free to contact:

Special Projects Coordinator