Peggy Sheehey Remembers Working at the Bank of Montreal

Originally Published in the North Kawartha Times, circa 1985

Peg Sheehey started working for the Fenelon Falls branch of the Bank of Montreal in 1950, as a stenographer. She left in 1953, to raise a family and went back in 1954, “just temporary until they got a replacement,” she said, and is still there today. She would be difficult to replace now, however. Mrs. Sheehey has gone from stenographer to teller, to chief clerk, to assistant manager (in 1969), and in 1983, she was named branch manager.

Mrs. Sheehey remembers the days when everything was hand-posted, in pen and ink (not ball point pen) in the ledgers. There was no automation, and all transactions took time to perform. There were just two types of accounts—current accounts, which are a business account, and savings accounts which were personal accounts. Now there are current accounts, true chequing, daily interest savings, true savings, daily interest chequing, and chequable savings.

Mrs. Sheehey says the methods of banking have changed to meet the demands of the clientele. Years ago, people weren’t as conscious of interest rates, and how to make the most of their money. Now they are more aware of getting the most for their dollar.

Computerized terminals, and Olivetti video-screens enable tellers to provide speedy service to customers not only from the home branch, but also to other Bank of Montreal customers from anywhere else.

The commercial banking has been separated from the retail banking, and what used to be handled by one manager now has been divided among several. This is to provide more personal service for the customers. Everything is specialized now, and centralization of many tasks means that bank personnel are able to spend more time looking after customers’ needs, and the time consuming duties are directed to the central location.

Gone are the days of one teller, locked in a teller’s cage. Now there are instant-tellers, computers and access to your money anywhere you go.

Mrs. Sheehey has been a pioneer as banking has changed, having been the only woman in this area to occupy the position of assistant manager, and is now the only female bank manager in this area as well. She said there are many more women in executive positions than before.

She is to be one of 1,450 long-service employees to be honoured in the near future for 25 years or more of dedication and hard work at the Bank of Montreal. Not bad for stepping back into the job “just until they got a replacement.”