Agricultural Credit Corporation

ACC Loan Management Limited, formerly ACCBank plc, was formerly a commercial bank in Ireland that focused on agriculture and SME lending, and is now a company that focusses on managing the lending facilities of its existing clients. The bank had its origins in the Agricultural Credit Corporation (Corparáid an Chairde Talmhaíochta) set up in 1927 in the Irish Free State to finance agriculture; the bank was successful and led to the creation of the Industrial Credit Company, which was modelled on it and provided finance to industry. In the early 1990s, the company name was changed from "Agricultural Credit Corporation plc" to "ACCBank plc" in order to signify that the company was now targeting more than simply agricultural customers. In early 2002, the bank was sold by the Irish Government to Rabobank, it is now one of the three entities of the Rabobank (Ireland).

1927

The Agricultural Credit Corporation was founded in September 1927 and was one of the first creations of the Irish Free State.

1988

A new Agricultural Credit Act empowered the corporation to deploy up to 25% of its risk assets outside agriculture and the foundations of present-day ACCBank were laid.

2000

ACCBank refocused its business model on the SME and Agri sectors positioning the bank as a relationship bank in these sectors.

2002

ACCBank became a wholly owned subsidiary of Rabobank. With the backing of its parent, ACCBank embarking on ambitious plans to strengthen and grow its presence in Ireland as a leading Business and Agri-business bank. Now, as part of the Netherlands-based, former AAA rated, Rabobank Group, ACCBank’s range of products and services includes commercial mortgages, working capital finance, asset finance and leasing and wealth management.

2014 - ACCBank Restructuring,ceases banking, debt recovery focus

ACCBank decided to restructure with a focus solely on debt recovery, and stopped delivering banking services on Friday 30 May 2014. This meant that the closure of current accounts and return of all deposits, including interest due. All Business Centres in Cork, Drogheda, Dublin, Galway, Kilkenny, Limerick, Mullingar, Sligo and Waterford closed to the public and the management of loan facilities was centralised instead of being dealt with the local business centres.

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