WHAT NOW FOR SLIGO’S ULSTER BANK BRANCH?
CONCERNS FOR STAFF AND FUTURE OF ICONIC CITY CENTRE BUILDING
After the announcement that Ulster Bank is pulling out of the Republic of Ireland banking market, the concern locally is what will be the future for its staff and the iconic branch building itself in the centre of Sligo.
The bank says it will commence a phased withdrawal “managed in an orderly and considered manner, from the Republic of Ireland over the coming years.”
It is in negotiations with other banks and uncertainty remains about the future of its current branch network and its staff. In Sligo in particular, concerns centre over the future of customer accounts, mortgages and what might happen to the branch building in the coming years, and, what use it could be put to in the event it will no longer operate as a bank.
For Seamus Leonard (above, left) , who has been a customer with Ulster Bank for over 50 years, the news that the bank was pulling out of the Irish market was “devastating”.
The Ballymote man, who has to travel to Sligo town to do his banking since the Ballymote branch closed over three years ago, told The Sligo Champion he must now decide what financial institution to move to.
“It’s devastating news. We’ve been told to sit tight and not say anything for awhile but I hope there will be an alternative.”
“It’s a big inconvenience. I still have to travel 15 miles to this bank and that was okay providing it [Ulster Bank] kept going, but that’s going now, it’s left me in an awful way.”
Mr Leonard told The Sligo Champion that despite having to make the trip to Sligo town to do his banking, he had been satisfied with services at the branch.
Asked if he was concerned about what would become of the iconic building, Mr Leonard said he hoped it would “come to good use. I think they’ve a future for Ballymote [bank building]. I’d like to see them turned into something useful.”
The bank, built to the designs of James Hamilton of Glasgow and Belfast in 1863, is a notable feature of the town centre and is described by the National Inventory of Architectural Heritage as being ‘significant’ and ‘attesting to the prosperity of Sligo town in the late nineteenth century’.
Another Ulster Bank customer, Mike Treacy (above, right) said he will have to “look for the best option” when changing banking institution following the recent announcement.
“We’re from outside Tubbercurry, and with Ballymote gone we have to come in here.” Mr Treacy feels he has little choice in financial institutions going forward.
“If you go to Bank of Ireland or AIB you’re looking at more charges than here, but where we live we’ ll be forced to go with one [of them].”
Mr Treacy, who previously lived and worked in the UK before returning to Ireland a number of years ago took issue with AIB and Bank of Ireland’s offering of services when returned to Ireland.
“The only other option would be the Post Office or the Credit Union, it’s something I’d probably think about. AIB in Tubbercurry has no cash point...I’ ll be looking at the best option I can get,” he said.
Ulster Bank Chief Executive Officer, Jane Howard said:“I want to be clear that there will be no change for customers, changes will happen over the coming years.
“Ulster Bank will continue to offer a full banking service in our branches, online and through normal channels for existing and new customers for the foreseeable future. Customers do not need to take any action as a consequence of this announcement.
“We will communicate with customers in a timely manner over the coming weeks and months.
“We will now consult with employee representative bodies to determine how best to plan and manage an orderly withdrawal of the bank over the coming years.
“There will be no new compulsory departures from the bank this year. I am acutely conscious of our responsibilities to our colleagues and I am wholeheartedly committed to managing this process in a fair and responsible manner.”