FSU leads coalition campaign to 'save' Ulster Bank

Sinn Féin and Labour Party have also called on NatWest to commit to a future in Ireland for Ulster Bank 

If Ulster Bank's parent company, UK-based NatWest chooses to close the bank in Ireland, thousands of jobs will be lost. Picture: Sasko Lazarov/Rollingnews.ie

The Financial Services Union has launched a campaign to save Ulster Bank in the Republic of Ireland.

The union, which represents up to 70% of the 3,000 people employed by the bank in the north and sound of the island, has written to the directors of Ulster Bank’s parent company, NatWest to set out the concern of staff and customers arising from media reports on a strategic review of the Ulster Bank business in the Republic of Ireland.

Media reports have indicated that all options are being considered, including the wind-down and closure of the bank in Ireland.

FSU general secretary, John O’Connell said the bank provides local jobs for some 2,400 people in the Republic of Ireland.

Last year, Ulster Bank put new lending of €3.1bn into the Irish economy.

“It supports our farming sector and small and medium enterprises in their growth and as such plays a vital role in our economy," he said.

“In some communities, it is, to its credit, the last bank in town."

Mr O'Connell said a decision to close the bank would have "a devastating impact, economically, socially, and individually on customers, communities, and staff.” 

“We are calling on NatWest to meet with the FSU and to engage with all those affected ahead of making any such monumental decision.” 

As part of its campaign, the FSU has also led the creation of a broad coalition of interested groups covering business, farming and communities, calling on NatWest to commit to the future of Ulster Bank in the Republic of Ireland and to bring an end to doubt and speculation for staff and customers of the bank.

To date, signatories include the Irish Congress of Trade Unions; the Irish Farmers’ Association; Sinn Féin finance spokesperson, Pearse Doherty TD on behalf of Sinn Féin; Labour Party Finance spokesperson, Ged Nash TD on behalf of the Labour Party; Mandate Trade Union; Irish Nurses and Midwives Organisation, and Unite the Union.