Michael Collins (Cork South West, Independent) | Oireachtas source

The decision made by Bank of Ireland to close 103 of its branches in Ireland, including 88 in the Republic, two of which, in Bantry and Dunmanway, are in my constituency, is a grave error of judgment. For several years, the bank has been dismantling the personal service which existed for generations and replacing it with banking machines in a bid to reduce staff and costs. However, the price to be paid for that is the weakening of customer loyalty to the bank and the loss of knowledge by the bank regarding the individual needs of the customers and communities it serves.

Over many years, Bank of Ireland branches in Bantry and Dunmanway have gained an insightful and valuable profile of these loyal customers and this healthy symbiotic relationship has thrived to the benefit of the bank and its customers. Small businesses and farming families especially have a long-standing relationship with the local bank manager and face-to-face meetings rank highly in discussions of projections, business plans, loans, etc. The past year has seen a marked increase in the number of houses sold in rural areas, especially west Cork. This growth in rural dwellers will bring increased potential for banks as new houses are built and fresh businesses spring up. However, Bank of Ireland has made the decision to pull the plug on communities and not to ride this wave of opportunity.

The branches in Bantry and Dunmanway serve a huge area, from Castletownbere to Durrus, Kicrohane to Schull, Goleen to Drimoleague and all the way to Ballineen. A massive vacuum now exists where there is no provision of Bank of Ireland services in these areas. I know more than most how a community can suffer. I come from Schull, where our AIB branch closed 2012. The next thing that happened in the village was the closure of the second biggest shop in the town with the loss of 20 jobs at least. The Government is standing idly by. I have been listening to Teachtaí crying crocodile tears. The Government can intervene in the banks when it suits, but it will not intervene now when it suits customers. It is time to get up and wake up. AIB, Ulster Bank and PTSB customer services are diminishing in west Cork. We need the Government to intervene, but it is not doing so.

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