Royal Bank of Canada marks 100 years in Burns Lake
The Royal Bank of Canada (RBC) celebrates 100 years in Burns Lake on Aug. 8.
A century ago, the bank opened its branch at an unconfirmed location in the village, as Alice Harris, Branch Manager told Lakes District News, based on RBC’s historical archives.
The records weren’t clear on where exactly the first branch was set up, Harris said.
RBC’s presence here is technically older than Burns Lake itself, as the village wasn’t incorporated until 1923.
In January of 1921, land for a new location was purchased from the Burns Lake Trading Company for $1,000, or $14,051 in 2019 money adjusted for inflation. That spot was the bank’s current location of 354 Yellowhead Highway 16.
A two storey, framed building with a concrete basement was constructed for a contract price of $10,783 ($151,517 today). The building included living quarters on the upper level.
The structure was demolished in early 1969 and a new building for the branch was constructed.
Almost a decade later, in 1978 it underwent renovations to improve service and efficiency, Harris said.
Today the RBC, from its location in the heart of the village, provides services to more than 4,000 clients.
The bank is holding an open house celebration of its anniversary on Aug. 8.