Credit Unions "must stand up" after the closure of 88 Bank of Ireland branches around the country was completed today (Friday, October 8).

Following the announcement in March of this year, over one-third of the bank's branches have closed, reducing its locations in the Republic of Ireland to 169. 15 branches have also closed in Northern Ireland, reducing Bank of Ireland's presence there to 13 locations.

The closure of the branches "represents a sad day", according to one TD, who nonetheless said that it gives Credit Unions "the opportunity to fill the void left behind".

Independent TD Michael Fitzmaurice commented: "Many towns and villages will be left extremely disappointed as these banks close today."

He added: "While efforts are being made to liaise with An Post to facilitate lodgements and withdrawals, it is unclear yet whether this will work.

"It has been well documented in the media that arrangements with An Post may not suit everyone, with people from certain areas being forced to travel in excess of 20km or more to access services," the Roscommon-Galway TD stressed.

Fitzmaurice argued that, with Bank of Ireland closing so many branches this week, it is "time for the likes of the Credit Unions to stand up to the plate and work with local people and business owners to offer the services they require".

He claimed that Credit Unions in some areas had been introducing upper limits to what each customer can hold with them.

"This will need to be addressed if it prevents people from effectively utilising their services," Fitzmaurice concluded.

The list of Bank of Ireland branches that are closing by today is as follows: