Colm Burke (Cork North Central, Fine Gael)
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104. To ask the Minister for Communications, Climate Action and Environment if consideration will be given to the establishment of a new local community banking system in conjunction with An Post, similar to the successful model of community banking as developed in New Zealand, in view that it would allow all rural post offices to remain viable into the future; and if he will make a statement on the matter. [1320/23]

Colm Burke (Cork North Central, Fine Gael)
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105. To ask the Minister for Communications, Climate Action and Environment if consideration will be given to combining credit union services and An Post services in certain rural communities where post offices may not be sustainable on their own; and if he will make a statement on the matter. [1321/23]

Eamon Ryan (Dublin Bay South, Green Party)
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I propose to take Questions Nos. 104 and 105 together.

An Post is a commercial State body with a mandate to act commercially. It has statutory responsibility for the State’s postal service and the post office network. Decisions relating to the network, including those in relation to the size, distribution and future of the network are operational matters for the Board and management of the company. An Post will continue to actively seek new business and to explore opportunities to develop new or enhanced product lines for the network.

An Post is transforming its retail network by delivering new products and new formats. This includes, among other things, diversifying and growing the financial services products it provides for individuals and SMEs to include loans, credit cards and more foreign exchange products, local banking in association with the major banks and a full range of State Savings products. An Post is providing agency banking services for a number of leading banks including AIB, Ulster Bank and Bank of Ireland.

The Department of Finance has conducted a broad ranging review of the retail banking sector. As part of the Review, stakeholders, including members of the public, were invited to make submissions to the Department of Finance. These submissions were by way of a public consultation process launched at the Retail Banking Review dialogue in Tullamore in May 2022. Over 100 delegates attended the dialogue, including the retail banks, An Post, Fintech companies, Trade Unions, Credit Unions and the community and voluntary sector. The public consultation process concluded in July and over 100 submissions were received. The Review team published its report in November 2022. The report indicates that there is scope for An Post to further expand its offerings in consumer and SME retail financial services, in partnership, and on a commercial basis with other firms. The matter of commercial partnerships is one for the company to consider and progress directly.