By Taylor McClure
Special to The Record
Bank of Montreal and CIBC are financial institutions that we are familiar with, but what Townshippers may not be aware of is that our region once had a financial institution of its very own. Supported by and operated by Townshippers, the Eastern Townships Bank was established in 1859 and it played a significant role in contributing to the economic growth of the Eastern Townships up until its merger with the Canadian Bank of Commerce in 1912. The Eastern Townships Bank is an important piece of local history and it left its mark in the region.
Before the Eastern Townships Bank was established, merchants, farmers, and businessmen depended on trade through a barter system. For example, a farmer would exchange whatever goods or livestock that had value for a piece of land.
