Entire county will have just one Bank of Ireland branch
THERE has been widespread shock at the news that there will only be one Bank of Ireland branch serving the whole of county Sligo following the announcement that branches in Tubbercurry and Ballymote are to be close by September.
The bank announced on Monday morning that 101 locations in the Republic of Ireland and Northern Ireland will close their doors with an uptake in online banking and a fall in footfall – both accelerated by the Covid-19 pandemic – being cited at reasons for these closures. In addition to the closure of the Ballymote and Tubbercurry branches, south Sligo residents have also been dealt the further blow of losing the Charlestown branch, while residents in north Sligo are also losing the options of Bank of Ireland branches in Manorhamilton and Bundoran. This news also follows the recent decision of NatWest to pull Ulster Bank out of the Irish market within the next few years.
Bank of Ireland have said that services will be transferred to An Post outlets, but customers and politicians across the county have dismissed this as not being good for many areas of the country.
Roger McCarrick, pictured below, president of the Tubbercurry Chamber of Commerce and Community Association, said they are not taking this decision lightly and confirmed that they will call on Bank of Ireland to reconsider their approach.
“The general reaction here has been shock and disappointment. As we look forward, not alone is the branch here closing, but also the ones in Ballymote and Charlestown. That’s three banks in a catchment area the size of south Sligo all gone.”
“Our chamber of commerce will be writing to the Bank of Ireland asking them to review the situation. All of south Sligo will be without a Bank of Ireland service, the nearest ones we have now are Sligo town, Ballina and Swinford.”
As Sligo’s second biggest town, Roger was especially shocked that the Tubbercurry branch was among those facing the chop. “Tubbercurry is a very conveniently accessed town and is the main town of the county outside Sligo town with over 2,000 people. There is a need for another bank service in a county of this size. “A lot people simply won’t travel to Sligo town to do their business, but they will for a branch in Tubbercurry in a good location with good parking.” There are also fears that many elderly residents in rural areas have simply been forgotten about with these sweeping closures and Roger said many of those residents can’t simply be expected to move online.
“There is a large elderly population in rural areas and the town who will never learn to do online banking. They will be without any service and we would hope that the branch could at least be left available for meeting clients. This situation needs to be reviewed by Bank of Ireland and we will certainly be writing to them in the near future.”
Meanwhile, MEP Chris MacManus has said that closing the banks in and around county Sligo is “the wrong decision at the worst possible time for customers and staff”.
He went on to say that this move shows a disregard for customers and described it is as a cynical punishment on people who have respected Covid-19 restrictions for the past year.
“Bank of Ireland has attempted to justify this announcement based on a fall in branch visits over the past 12 months. This is hardly surprising given the entire population has had its movements significantly restricted in response to a public health emergency.”
“In reality, the bank is using Covid-19 for cover, punishing customers for following public health regulations. This is not just a cynical move, but a slap in the face that will hurt customers, staff and communities. It’s a huge blow to county Sligo and especially people in Ballymote and Tubbercurry and their surrounding communities.”
Fine Gael TD Frank Feighan said it is “difficult to understand the rationale” behind the decision to close these branches which will have an adverse affect on local business.
“I am concerned that many SMEs and retail business in vast parts of my constituency will now not have personal relationships with their local bank which is worrying.” He also confirmed that he will seek a meeting with Minister for Finance Paschal
Donohue to adress the issues which would arise from the closures. Independent TD Marian Harkin said that although the partnership with An Post is to be welcomed, Ireland’s history of promising improved services off the back of closed institutions cannot be overlooked.
“In Ireland we have a history of closing services or institutions accompanied by a huge fanfare announcing that we will replace them with something better.”
“Time and time again this had failed to materialise at the level needed to ensure continuation of the particular service.”
“That is why we need to pause these closures and establish a Banking Forum which will include all stakeholders in order to assess these proposed changes and examine the long-term future and stability of the Irish banking system.” Cathaoirleach of Sligo County Council Cllr Dara Mulvey, who represents the Ballymote-Tubbercurry area, said: “The bank by its action have shown no regard for rural communities, especially to announce this in the most challenging time in a generation. The only concern the bank has is their own profitability they have a short memory of the Irish taxpayer putting billions in during the bailout.”
Sinn Fein’s Cllr Thomas Healy said this decision is unfair on customers who bailed them out previously and simply should not be happening during a pandemic.
“This is reprehensible as the banks have a social, financial and moral obligation to us following the €64 billion spent by the Irish taxpayer in bailing them out in 2008, despite our Taoiseach’s denial of it. The government needs to act quickly and decisively on this, no bank branches should be allowed to close during the pandemic, and also we must ensure that there is not a further loss of competition in the banking sector.”
Labour representative Nessa Cosgrove has said that the announcement of so many branch closures by Bank of Ireland will rip the heart out of communities and called for the Central Bank and government to intervene. “Every person living in a community impacted by this will be horrified by the news that Bank of Ireland is pulling out of our communities. These branches provide a focal point not just for everyday banking but wider community itself. These closures will change the face of our towns, and the impact will be seen on our main streets, felt by family businesses and I am gravely worried about the impact this will have locally.”