The Royal Bank of Canada has opened an agency in Pangnirtung.
Since Oct. 9, the residents have had access to community banking services at the Uqqurmiut building. The Uqqurmiut Centre for Arts and Crafts, a subsidiary of Nunavut Development Corporation, partnered with Royal Bank of Canada to make this possible.
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According to Finance Minister George Hickes, this agency is a result of the Government of Nunavut's 2016 request for proposals for banking services.
"I am pleased the Government of Nunavut was able to work with our banking partner to provide these much-needed services to our residents," said Hickes. "I'm sure the community of Pangnirtung will be equally happy to be able to bank in person in their community."
The opening of this agency has allowed to both expand and improve banking services in Pangnirtung.
The residents are able to pay bills, withdraw money, cash cheques and deposit funds. Residents can now also have full access to digital online banking services once they open an account with RBC.
Nunavut's first RBC agency opened in Arviat in May 2018. Dale Sturges, national managing director of Indigenous Financial Services, stated that RBC hopes to open up another agency in another Nunavut community within 18 months.