No job losses as ACC shuts offices

JOBS will not be lost following ACC Bank’s decision to close seven of its branches.

The bank, which is owned by Rabobank, will close branches in Bandon, Mallow, Dundalk, Naas, Portlaoise, Carlow and Longford in January.

ACC employs 700 people in Ireland and 38 staff will be affected by this decision. Staff will be relocated to offices in Cork, Kilkenny and Limerick, where ACC said it is investing heavily.

ACC will also withdraw cash services from all locations. It ceased offering personal current accounts in 2003 to focus on business banking.

It said yesterday it will continue to actively seek to open current and deposit accounts for business customers who do not have a cash service requirement.

“These changes are part of an ongoing process to position the bank for growth in its chosen market, serving business customers,” the bank said.

Meanwhile, EBS Building Society has become the latest lender to stop offering tracker mortgages.

This follows an announcement by AIB on Friday that it has also pulled the plug on the product.

EBS said the decision to withdraw the tracker mortgage product is a result of the continuing high cost of funds in the market.

Bank of Ireland, Permanent TSB, Ulster Bank, First Active and IIB Homeloans have all ceased issuing tracker mortgages to new customers in recent months.