BYRNE: BANKS SYSTEMATICALLY DESERTING RURAL COMMUNITIES

SDLP MLA for West Tyrone Joe Byrne had had a meeting with a number of banks regarding the closure of rural bank branches and their impact on the farming community.

The austerity measures pursued by banks in the light of the current recession are causing great concern to many rural communities, particularly in places like West Tyrone. The recent announcement by the Ulster Bank about bank branch closures across the Island and the loss of 1800 banking jobs is a sad reminder of an austerity agenda by banking management, poignantly leaving many rural villages and small towns without a local bank branch.

Over the last two years, West Tyrone has suffered the loss of 6 bank branches in numerous smaller towns. Danske Bank has closed 4 branches in West Tyrone, namely Beragh, Fintona, Castlederg and Newtownstewart. The Ulster Bank and the First Trust Bank have closed their branches in Dromore now leaving the town without any bank. Last week, the Agriculture committee at the Assembly met and received presentations from the Ulster Bank, Danske Bank and the Bank of Ireland relating to how they are serving the banking needs of farmers across Northern Ireland. All three banks stated that they are committed to sustaining and developing the Agri-Food banking service to the farming community across the rural parts of Northern Ireland.

 Mr Byrne said:

"I questioned officials from all three banks about the severe impact the closure of rural bank branches will have to the farming community in particular. I told officials from the Danske Bank that the farming community of West Tyrone feels very aggrieved that all customers and in particular farming customers must use either Omagh or Strabane main street banks which, in addition, have no parking facilities. The rural farming community in Beragh, Fintona, Castlederg and Newtownstewart feel they have been short changed and treated badly by the banks"

"The fear now regarding the Ulster Bank is that West Tyrone could still suffer further bank branch closures; this would be devastating for the farming customers in particular. The banks that have squandered a lot of money on big loans to the property development sector during the economic boom are now on a deficit-driven campaign to improve their financial profitability. Resultantly rural, farming driven communities are losing financial services that are key to their viability both now and in the long term"

ENDS