PUBLIC BANKING FORUM of IRELAND

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THE PUBLIC BANKING FORUM of IRELAND IS WORKING TO ESTABLISH COMPREHENSIVE PUBLIC BANKING SERVICES IN IRELAND INCORPORATING THE POST OFFICES, THE CREDIT UNIONS AND A NETWORK OF COUNTY PUBLIC SAVINGS BANKS

 

  • Operate on commercial principles with the aim of maximising sustainable lending and not on maximising profits.
  • Operate on the Principle of “Local deposits into local loans” keeping capital in their own area.
  • Surpluses remain with the Bank & within the region: Profits are used to increase equity and for non-profit purposes (the public benefit principle).
  • Banned from engaging in financial speculation.
  • Only allowed to lend to local people and businesses in its designated area.
  • Controlled by stakeholders from the local community.
  • Independent of political influence and control.
  • The Joint Liability Scheme provides protection for all Savings Bank Branches.
  • Mandated to finance all businesses & SMEs within their designated area.
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