BANK CLOSURES Bank of Ireland closure in Mitchelstown slammed
Mr Lynch, who served as manager at the local branch from 1994 until 2002, said the news was predictable, but came as ‘yet another blow to country towns’.
“I’m very disappointed, but when I look around at other towns that have lost their branches, I’m not shocked,” he said. “The next change was always going to be a reduction in face to face services.”
Bank of Ireland (BoI) announced the sweeping reforms last Monday, saying the trend towards online banking was being precipitated by Covid-19 restrictions. 88 branches in the Republic and a further 15 in Northern Ireland are set to close in six months time, with the cuts disproportionately aimed at quieter rural branches.
Footfall in their branches is down 60% since 2017, BoI claim, as they announced a new partnership with An Post to provide services including over-the-counter cash and cheque lodgements, withdrawals and balance enquiries.
County Cork alone is set to lose nine Bank of Ireland branches in all.
COMPLETE SHOCK
Mitchelstown Business Association spokeswoman Claudia Matassa, said the news came as ‘ a complete shock’ that compounded the impacts of the Covid19 pandemic on small local businesses.
“People are stressed and restricted enough without this adding to their worries,” she said and went on to raise concerns around privacy, with Bank of Ireland’s plans to retain some local services via a partnership with An Post.
“The post office is busy enough as it is, and long queues can often be seen there, especially as we have to adhere with social distancing rules,” she said. “Will additional booths be added to the post office to ensure customer priva
cy? Will there be someone designated to assist BoI customers,” she asks.
Bank of Ireland has said that no employees will be laid off involuntarily due to the closures, which will impact 200 staff. Workers will be offered alternative postings or voluntary redundancy packages.
‘ATTACK’ ON RURAL TOWNS
Cllr Deirdre O’Brien informed The Avondhu she was devastated by the news of the closure of the Mitchelstown branch.
“Mitchelstown Branch closed during the pandemic last year and a huge void was evident in the town, people had to travel to Fermoy to do their banking and the local retailers suffered the loss of business spin off. I voiced concern at the time fearing it would not re-open”.
She says the move will be detrimental to staff, customers, businesses and the wider community.
“The bank is essential to the town in terms of service and economic. Not everyone is using online banking there is the issues of technology and lack of broadband and there are always times that you have to visit your branch. The public have been good to banks, it’s time they were appreciated and acknowledged! I will be calling on the Minister for Finance to intervene,” she said.
While Labour TD, Seán Sherlock branded the closures as an ‘attack on provincial towns right around the country, especially in North Cork’. He called on government to intervene ‘ to stop Bank of Ireland ripping the commercial heart out of provincial Ireland’.
“The cynical attempt of the bank to use Covid-19 as cover for these closures is an insult to staff and local communities,” he said. “Seeing their workers as merely numbers does not take into account what’s happening in local branches throughout the country, where bank staff play a fundamental role in our rural economy.
“This Government is talking out of both sides of its mouth on regional development. It speaks of revitalising main streets again, but if services as basic as the bank move completely online, there will be no main street to revitalise.”
PATTERN
The president of the farming body, the ICMSA, Mr Pat McCormack, echoed Mr Sherlock’s sentiment that the BoI closures were part of a pattern of rural decline.
“Bank of Ireland’s decision would have the net effect of penalising rural areas and the elderly,” Mr McCormack said. “The retreat by state services and commercial services from rural areas, now seems relentless.”
This retreat, he said, was resulting in fewer opportunities for people to meet and interact on a daily basis and adding to a sense of loneliness and isolation, ‘especially for elderly people’.
Cllr Frank O’Flynn said Bank of Ireland’s assertion that customers were moving to online banking could see some people left behind, especially given the poor rollout of broadband in areas of North Cork.
“It’s another major blow to rural Ireland,” he said.
He said rather than citing Covid19 as a reason to close the branches, the bank should have postponed the closures in light of the extreme difficulties small local businesses are currently already facing.
PUBLIC MEETING
Meanwhile, Cork East Sinn Fein TD Pat Buckley, will host an online public meeting calling for the Mitchelstown, Cobh and Youghal branches of Bank of Ireland to stay open.
“In the middle of a pandemic, when customers and businesses are under severe pressure, Bank of Ireland, which was bailed out to the tune of €4.7 billion by the Irish people, should not be closing local bank branches,” Mr Buckley said.
He said there was an “important role” for government in fighting against the bank closures. “As a key shareholder in Bank of Ireland, the Minister for Finance Paschal Donohoe needs to stand up for local communities facing the closure of their bank branches.”
Mr Buckley’s meeting will be held on Zoom on Tuesday, March 9th at 7pm. Details for those interested in attending are on Mr Buckley’s Facebook page.