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Local TD feels new banking system required for rural Ireland and small firms

Jul 25, 2022 17:07 By Shannonside News
Local TD feels new banking system required for rural Ireland and small firms Local TD feels new banking system required for rural Ireland and small firms
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The AIB u-turn on removing cash from their branches has left a sour taste for many customers.

A Shannonside TD believes only a new system of banking will prevent a repeat of the anger AIB's decision to remove cash from banks provoked last week.

The company rowed back on plans to remove cash desks from several of its branches in the Shannonside region after significant public outcry.

Independent Td Denis Naughten believes a new banking strategy needs to be adopted which may involve a new state bank being established for personal or small business customers

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He feels the AIB decision is symbolic of the poor attitude the banking sector has to many of its customers and he feels a new approach is required:

"What needs to happen here I believe is that we need to bring together An Post, the Credit Union movement and the strategic banking Corporation of Ireland and Micro Finance Ireland to be able to lend to personal customers, to small businesses and to provide competitive mortgages in the market as well as proving day to day banking services. I think there is an opportunity now to create a completely separate state-run bank that would provide these services in every single rural community."

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