Cookies on The Tuam Herald website
We use cookies to ensure that we give you the best experience on our website. We also use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the The Tuam Herald website. However, if you would like to, you can change your cookie settings at any time by amending your browser settings.
Hide Message
  • Living

Glenamaddy's home-grown banking

Wednesday, 15th February, 2017 10:09am

Story by Tony Galvin
Glenamaddy's home-grown banking

Photo: Ray Ryan

Glenamaddy's home-grown banking

Photo: Ray Ryan

GLENAMADDY once boasted two banks, and their abandonment of the community — one in 2006 and the other in 2013 — heralded dire predictions from some quarters of the town’s inevitable economic demise.
Business would follow the banks’ customers to the larger towns and Glen’ would atrophy and die. That’s what the pessimists said, in a 21st-century version of John Healy’s 'No One Shouted Stop — Death of an Irish Town’ which he based on his native Charlestown in the 1960s when emigration was bleeding the life from it and so many other West of Ireland communities.
However, instead of lying down and accepting their fate, the people of Glenamaddy rallied around and created their own hybrid banking system, an unusual but very pragmatic utilisation of the Credit Union, the Post Office and links to financial institutions, which has filled the void left by the departing banks.

To read more see this week's edition

Purchase a digital edition gift subscription for 1 YEAR  for those overseas. Local news on the move and accessible on all platforms; desktop, tablet and smartphones