Statement from Financial Services Union re meeting with Minister for Finance

Issued : 19 February 2021

Statement from Financial Services Union re meeting with Minister for Finance

Friday, 19th February 2021

The Financial Services Union has described as constructive, a meeting today with the Minister for Finance to discuss the issue of the exit of Ulster Bank DAC from the Republic of Ireland.

Commenting following the meeting, General Secretary of the FSU, John O’Connell said: “I welcome the meeting today and the Minister’s commitment to continued dialogue with the FSU. I would contrast that directly with the silence over the last six months from NatWest.  The meeting was constructive, with issues of job certainty for staff; the option for staff to transfer with their work; the terms and conditions of staff, and the retention of the Branch structure among matters discussed.

“The exit of Ulster Bank from the Republic of Ireland is a significant blow to staff and customers. They deserve clarity from Ulster Bank on its intentions. The Bank has stated in the Memorandum of Understanding with AIB that staff will have the option of moving with their work: we need a clear statement from the Bank that this option will be available to all staff in any future sale / acquisition of the Ulster Bank loan book.

“We reiterated our view to the Minister that the retention of the branch network should not be forgotten. The local branch is an integral part of communities across the country. The FSU is calling for a moratorium on branch closures for the rest of this year to give reassurance to customers that this vital community link is not broken, particularly in the middle of a pandemic.”


Contact: Brian McDowell, Head of Communications and Public Affairs, FSU. Tel: 087-9161225. Email: [email protected].

Notes to editors:

  • John O’Connell is available for interview, on request.

About FSU: The FSU is Ireland’s leading union across banking and finance. We represent thousands of staff across the main retail banks, and we have members in more than 70 companies across the finance and fintech sectors. Our members are spread across the Republic of Ireland, Northern Ireland, and Great Britain. We are headquartered in Dublin and we also have a presence in Belfast. We are members of the Irish Congress of Trade Unions and UNI Global finance union.