SOMBA K'E/YELLOWKNIFE - The Bank of Montreal (BMO) is leaving downtown Yellowknife and heading for the Range Lake area.

The bank's NWT vice-president, Wes Taylor, made the announcement to branch staff - including a beaming Janet Porteous, branch manager - Monday afternoon.

BMO area manager Milt James, left, branch manager Janet Porteous and NWT vice-president Wes Taylor announced Monday the bank will be moving to the corner of Range Lake Road and Old Airport Road, with the branch slated to begin operations in its new home in May. - Guy Quenneville/NNSL photo

"I was ecstatic," said Porteous, recalling the moment months ago when she first heard the branch would definitely be moving to the corner of Range Lake Road and Old Airport Road, in front of the old Extra Foods building.

"There is no financial institution out there. I've heard rumours around town that people would like to have one out there.

"To be the first, I think it's great."

According to Taylor, the move has been eyed for two years, with the new building set to open in May.

"It's a very aggressive schedule," he said. "Polar Developments (the contractor) would like to start really soon."

The new 6,500-square-foot location - whose interior construction alone will cost BMO $3.2 million - will dwarf the existing branch, which measures 4,900 square feet.

Among the new features available will be 24-hour drive-thru banking.

"Having been here in the winter, I think that will be welcomed," said Taylor.

The new bank will also be open Saturdays, added Taylor.

"We haven't settled on the Saturday hours, but I would envision the Saturday hours as 10 a.m. to 3 p.m."

The current branch in the Centre Square Mall has 14 full-time staffers.

That number will go up to 17, plus one or two part-timers to fill up Saturday's schedule.

"We're also hoping to flesh out our financial planning operation at the bank," said Taylor.

"We used to have a financial planner, but not anymore. It's simply a matter of locating the talent, trying to get the people that can do the work."

The new location will allow for more kiosks and operating space, but the change is not just cosmetic, according to Taylor.

Asked if the move had anything to do with the lewd behavior often observed on the block of 51 Avenue BMO currently calls home, Taylor replied, "Like any urban city, it has some disadvantages. You just have to weigh it all and make your best bet. If we're going to bet three and a half million bucks, I think we're going to bet it out (in Range Lake)."

Mayor Gord Van Tighem, who worked as senior NWT manager for BMO for seven years until he retired in 1999, said the move is a good one, despite forcing customers to drive uptown.

"That's where the bulk of the population is," said Van Tighem. "And there's also more accessibility to parking."