Dáil Éireann Debate, Tuesday - 9 October 2012
159. Deputy Michael Colreavy asked the Minister for Finance if banking services will be made available to older residents of Collooney, County Sligo, who do not have easy access to Sligo Town; and if he will make a statement on the matter. [42988/12]
View answerI assume that the Deputy is referring to the closure of the local AIB branch in Collooney. While I regret the closure of any bank branches, the Deputy will no doubt appreciate that the provision of services by banks, including the location of branches, is a commercial decision for the banks. Notwithstanding the fact that the State is a significant shareholder in some banks, it is imperative that the banks are run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset to the State. The Deputy might wish to note that there is a provision in the Central Bank’s "Consumer Protection Code" which imposes certain obligations on banks that have decided to close, merge or move a branch in a different location. The relevant provision states:
Where a credit institution plans to close, merge or move a branch it must notify the Central Bank immediately and provide at least two months notice to affected consumers to enable them to make alternative arrangements. The credit institution must ensure all business of the branch is properly completed prior to the closure, merger or move, or alternatively inform the consumer of how continuity of service will be provided. The wider community must be informed, in advance, through notification in the local press.
The advance notification requirement is designed to give existing consumers the necessary time to choose another credit institution.
The Deputy will appreciate that it is an inevitable, but unfortunate, consequence of the necessary restructuring of the banking system – and return to viability - that branches in certain towns and villages will be closed. I appreciate that the branch closures will have an impact on certain towns and villages, but I do expect that any bank involved will work with their customers to ensure that they minimise the impact of the closures.
