Permanent TSB agrees partnership with Ó Cualann

Updated / Tuesday, 14 Jul 2020 13:35

Permanent TSB's new CEO Eamonn Crowley

Permanent TSB has agreed a three-year partnership with the Ó Cualann Cohousing Alliance to support the agency's work developing fully integrated, co-operative and affordable housing schemes across the country. 

The Ó Cualann Cohousing Alliance was founded in 2014 and aims to provide integrated, co-operative, affordable housing in sustainable communities.

The partnership will see Permanent TSB provide €350,000 to Ó Cualann, which will be used to accelerate its plans to develop 1,800 houses across the country over the next three years.

All 49 houses of Ó Cualann's inaugural project in Dublin's Ballymun were completed and handed over to residents in 2018.

The new CEO of Permanent TSB, Eamonn Crowley, said the partnership reflected the bank's wish to connect with communities in line with its roots in the community banking and building society movement.

Eamon Crowley said the bank wanted to champion ways of connecting with its community banking heritage, building trust with customers and playing an active role in communities across Ireland.  

"Supporting Ó Cualann is one tangible way to do so and I believe we can provide real financial and strategic support to the team here to enable them to continue with their important work," the CEO added.

The founder and CEO of Ó Cualann Cohousing Alliance Hugh Brennan said that housing bodies can play an important role in helping to alleviate the housing crisis, but they can not do it on their own.

"Permanent TSB's support will help us to achieve more over the coming years than would otherwise have been possible and for that, we are very grateful," he added.