Bank of Hamilton/CIBC
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The interior of the CIBC bank before it was replaced by the its current building in 1971.
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August 2025
From cash to cards: Georgetown's role in Canada's debit revolution
CIBC reflecting on its innovative role as the local bank marks its 150th anniversary
It's not even given a second thought anymore.
You put your purchase on the counter, take out your card and tap it on the terminal and you're on your way. It's become such a way of life that few people even carry cash.
But in 1989, you needed cash - paper money tucked into your wallet, or those weird new dollar coins with a loon on them. And when you ran out, that was it. Your shopping day was over.
But there was a change coming, and in 1989, Georgetown played a role in altering how we shopped forever.
That year, the Georgetown branch of the Canadian Imperial Bank of Commerce launched a two-month pilot project. Working with the nearby Winks Convenience store, CIBC customers could pay for their purchases without any money exchanging hands, at least no physical money.
All you did was insert a card into a terminal, type in a code and walk away with your bag of chips. Though it took some time for stores to be equipped with terminals, eventually the debit card became the standard.
Tell the story of needing cash, or having to go to the bank if you ran out of money, to any teenager and they will think you are as old as
Georgetown's CIBC branch, which is celebrating its 150th anniversary this year.
The bank has seen many changes over its century and a half on the southwest corner of Main Street South and Mill Street. For Sonya Stell, the banking centre leader for CIBC's three Georgetown locations, the best part of working at the bank has remained the same: helping clients with those milestone moments.
"We've heard from so many people who have said, (CIBC) helped us get our first home loan, or RESPs for our kids. That's my favourite part of what we do," Stell said.
"We had a client who started a construction business many years ago after getting a loan from CIBC. Now all these years later, he's been involved in building some CIBC real estate. It's a full-circle moment."
The location opened as the Bank of Hamilton on January 16, 1875, becoming Halton County's first chartered bank. The town had a population of 1,500 and cars were still another 35 years away from making their first appearance in downtown Georgetown.
The Bank of Hamilton merged with the Canadian Bank of Commerce in 1924 and then became the Canadian Imperial Bank of Commerce in 1961, two years after it opened its second branch in town at what's now the Georgetown Market Place. Needing to expand, the building next to the downtown branch was purchased. Both buildings were demolished and the current bank building was opened in 1971. A third branch opened in Georgetown South in 2015.
The original branch was renovated in 2017 and converted from a traditional branch with tellers to an advice centre where employees could advise clients on mortgages and more.
Stell said as they celebrate their anniversary, many clients have been reminiscing about former staff members or bank managers. Others have not only been customers at the bank, but so have their families.
"We have a lot of regular clients, who tell us they opened their first bank account as kids with us. There are clients we see who have retired and their kids are with us now and potentially their grandkids with us," Stell said. "It's so nice to see that live on through the generations and have different experiences with us. We're so fortunate to be part of this community."
From cash to cards: Georgetown's role in Canada's debit revolution
CIBC reflecting on its innovative role as the local bank marks its 150th anniversary
It's not even given a second thought anymore.
You put your purchase on the counter, take out your card and tap it on the terminal and you're on your way. It's become such a way of life that few people even carry cash.
But in 1989, you needed cash - paper money tucked into your wallet, or those weird new dollar coins with a loon on them. And when you ran out, that was it. Your shopping day was over.
But there was a change coming, and in 1989, Georgetown played a role in altering how we shopped forever.
That year, the Georgetown branch of the Canadian Imperial Bank of Commerce launched a two-month pilot project. Working with the nearby Winks Convenience store, CIBC customers could pay for their purchases without any money exchanging hands, at least no physical money.
All you did was insert a card into a terminal, type in a code and walk away with your bag of chips. Though it took some time for stores to be equipped with terminals, eventually the debit card became the standard.
Tell the story of needing cash, or having to go to the bank if you ran out of money, to any teenager and they will think you are as old as
Georgetown's CIBC branch, which is celebrating its 150th anniversary this year.
The bank has seen many changes over its century and a half on the southwest corner of Main Street South and Mill Street. For Sonya Stell, the banking centre leader for CIBC's three Georgetown locations, the best part of working at the bank has remained the same: helping clients with those milestone moments.
"We've heard from so many people who have said, (CIBC) helped us get our first home loan, or RESPs for our kids. That's my favourite part of what we do," Stell said.
"We had a client who started a construction business many years ago after getting a loan from CIBC. Now all these years later, he's been involved in building some CIBC real estate. It's a full-circle moment."
The location opened as the Bank of Hamilton on January 16, 1875, becoming Halton County's first chartered bank. The town had a population of 1,500 and cars were still another 35 years away from making their first appearance in downtown Georgetown.
The Bank of Hamilton merged with the Canadian Bank of Commerce in 1924 and then became the Canadian Imperial Bank of Commerce in 1961, two years after it opened its second branch in town at what's now the Georgetown Market Place. Needing to expand, the building next to the downtown branch was purchased. Both buildings were demolished and the current bank building was opened in 1971. A third branch opened in Georgetown South in 2015.
The original branch was renovated in 2017 and converted from a traditional branch with tellers to an advice centre where employees could advise clients on mortgages and more.
Stell said as they celebrate their anniversary, many clients have been reminiscing about former staff members or bank managers. Others have not only been customers at the bank, but so have their families.
"We have a lot of regular clients, who tell us they opened their first bank account as kids with us. There are clients we see who have retired and their kids are with us now and potentially their grandkids with us," Stell said. "It's so nice to see that live on through the generations and have different experiences with us. We're so fortunate to be part of this community."