Cathaoirleach of Leitrim County Council Paddy O’Rourke has asked the council to contact the Central Bank asking that they instruct Ulster Bank, to assist their customers in obtaining new financial providers.
He stated, “it appears Ulster Bank’s priority has been only to transfer their loan book in order to gather their assets before exiting the market.”
He said they are leaving “holders of current and savings accounts with no assistance, which will lead to chaos in cash flow for many families, particularly elderly people.”
Cllr O’Rourke said people “need full support” and help to switch all direct debits and payments to their new bank - he said if a person misses an installment for their car insurance, the insurance company will not cover them, adding this is very serious.
Cllr Enda McGloin agreed and said the central bank needs to be “more flexible” with credit unions.
Cllr O'Rourke's motion received full support.
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