Banking administration in Ireland
has changed, and not for the better, within the last few years. Long standing bank customers are now faced
with extraordinary and ridiculous requests for passports, driving licences and
utility bills to prove to bank officials with whom they have been dealing for
years that they are who they claim to be.
I had experience of this quite
recently when local officials in the bank where I have banked for over 30 years
required me to prove who I was before I could operate another account. This prompted me to question the difficulties
facing the customers of St. Dominic’s Penny Bank, which is closing this month,
should they wish to use any of the existing financial institutions to open
saving accounts.
The Penny Bank is a much valued
facility, especially useful for those people who might not be able to avail of
banking facilities in our local banks or credit union. Quite a lot of those people do not have
driving licences or passports and consequently will not be able to meet the
financial institutions requirements to allow savings accounts to be opened.
I am told that the Penny Bank opened
in 1984 and for the last 30 years has provided what is essentially a social
service for those unable to avail of main stream banking facilities. A meeting in the Dominican Priory on 22nd
March 1984 chaired by the late Fr. Jim Harris, Prior of St. Dominic’s on 22nd
March 1984 agreed to open a Penny Bank.
Present at that meeting were Margo Gough, Ivan Bergin, Donal Murphy,
Jack O’Rourke and John Neavyn who acted as Secretary. The Penny Bank opened for the first time on
Saturday, 7th April 1984 from 5.30 p.m. to 8.30 p.m. manned by
volunteers Michael Ryan and Tom Walsh.
Trustees of the Penny Bank were appointed
and that role was undertaken by Donal Murphy, Ivan Bergin and John Neavyn. Appointed as promoters were Patricia Murphy,
Maureen Ryan, Peter Grant, Paddy Rochford and Tony Foley. Ann Handy worked in the Penny Bank Office for
many years and in 2003 Phyllis Fennin took over the running of the office with
the late Kevin Watchorn. In recent years
St. Dominic’s Penny Bank has been open 6 days a week with Patricia Holligan and
Ann Robinson helping out in addition to their normal duties in the Dominican
shop. During the 40 years of the Penny
Bank’s existence five Dominican Priors have been in charge of the local
Priory. Fr. Jim Harris, Fr. Con Roche,
Fr. Jim Dunleavy, Fr. John Heffernan and the current Prior, Fr. Joe O’Brien.
I understand that the Penny Bank has
several thousand customers, all of whom benefit from the Savings Scheme which
pays out substantial monies in the weeks prior to Christmas. The money saved by the local people and made
available to them in the lead up to the festive season brings enormous benefit
to local shops. It would be difficult to
estimate the value to our local economy of the Penny Bank’s savings money spent
in Athy each December but it must be millions of euro rather than thousands.
What will happen if the Penny Bank
is not continued? It cannot be continued
by the Dominicans as regrettably the Friar’s preachers will in time be leaving
Athy after more than 750 years of service to our community.
The Penny Bank must be saved. It is a vital service for families who cannot
avail of banking facilities. If it is
allowed to die those families will either lose the incentive to save or perhaps
keep their savings at home. Either will
be a cause of concern. Without the
regular savings entrusted to the Penny Bank the loss to the local economy will
be enormous. If people, especially
elderly people, continue to save and retain their savings by way of cash in
their homes issues of personal safety will be a concern.
There is undoubtedly an urgent need
for the community to come together to examine how best to retain the Penny Bank
in Athy. There should be no question of
its dissolution without every avenue being examined as to the feasibility of
retaining what is an essential social service.
It is also a vital local service and a community already facing the loss
of its Post Office and its replacement by a sub Post Office should act
immediately to stop this further erosion of services in Athy. The townspeople need to act to help regenerate the town which has so many natural
and manmade assets of sufficient quality to justify its claim to be one of the
best situated provincial towns in Leinster.