The Financial Services Union (FSU) has urged policy makers in Northern Ireland to commit to the provision of retail banking at a community level and to introduce a moratorium on branch closures for five years.
In an address to the Northern Ireland Assembly, Committee for Finance today, the union highlighted how changes made to retail banking without proper consultation and agreement can have a detrimental effect on communities, staff and businesses.
In this opening remarks to the Committee John O'Connell, General Secretary of the FSU outlined how a stakeholder approach to managing change can lead to better outcomes for all.
In relation to branch closures Mr O’Connell said that both Danske Bank and Ulster Bank have closed branches this year and that they did this "despite knowing that these closures will have a detrimental effect on vulnerable people and small business".
In its submission, the FSU also called for Government support for financial literacy education for consumers and a commitment to communities of access to banking services.
The union highlighted the need for a blended model of banking that has the user of the services at the core of its business plan, that rewards its staff, that is a good place to work and is a model of banking that people can trust.
