Withdrawal of Retail Banks from the Irish Market

Dear Member,

You may be aware of the intention of both Ulster Bank Ireland DAC (UBIDAC) and KBC Bank Ireland (KBCI) to withdraw financial services from the Irish market in the near future. The purpose of this correspondence is to alert you to the fact that you will need to make alternative banking arrangements, especially important should you be making loan repayments to any financial institution by direct debit, to either of the two banking institutions referred to above.

This advice is tendered to ensure that your loan repayments continue uninterrupted and also that you will not be adversely impacted by costs, penalties or Central Credit Register (‘’CCR’’) issues in the event of unpaid direct debits.

We also take this opportunity to advise and remind that the Credit Union now offers a full current account service to include a Debit Card (Mastercard), full online access (including a banking App) in addition to overdraft facilities, if required, subject to terms and conditions. Many clients of both of the banking institutions referred to above have already switched and are enjoying current account services offered by the Credit Union.

Please do not hesitate to contact any of our staff members in the event of further queries in this regard, we look forward to hearing from you.

Yours Sincerely,

Sinead Stagg
Operations Manager