CIBC says on its website their Elkhorn branch will close August 18 this year. It is the community's only bank.
Elkhorn and District Chamber of Commerce vice-president says they've put together a group to explore finding a new financial institution.
"I think the direction you know initially will be looking into the credit union options to see if we can find a credit union that might be interested in coming."
Canart says the public was told about the CIBC branch closure in December and a public meeting was held this past Tuesday, but he says the meeting was not about potentially keeping the location open.
CKDM has not yet spoken with CIBC about the decision.