LETTERKENNY Golf Club has moved to allay concerns to its members after it emerged AIB is to sell on the club’s loan in a matter of months.
The Committee of Management and members have been left ‘blindsided’ by the move, which was revealed just days ago at the club’s annual general meeting.
The AGM on December 16 heard of the current financial position of the club, and was told of the concerning news of AIB’s decision to sell the club’s loan to a company called ‘Everyday Finance’ in March 2026.
Members at the AGM were briefed by club representatives on their interactions with AIB representatives over the past 18 months regarding the restructuring of the club loan. The club said these discussions were “progressing well and in good faith with the understanding that a loan restructuring and repayment plan could be reached between the parties”.
But, without any discussion or engagement with the club, AIB is to sell on the club’s loan.
In an email to club members, the decision by AIB was described as “totally unexpected”.
“The AIB’s decision was totally unexpected and has come as a great shock to the club’s Committee of Management, members and beyond. We fully appreciate and understand the legitimate concerns expressed by our members.
“The club’s incoming Committee of Management and nominated club representatives will commence discussions as soon as possible with all relevant parties in the best interest of our members to secure the current and future status of Letterkenny Golf and Social Club.
“The Committee of Management will keep members informed of all developments pertaining to the club’s negotiations regarding this matter,” the email states.
In a statement to the Donegal News yesterday, Letterkenny Golf and Social Club – Committee of Management said the club has been servicing the loan as agreed with the bank.
“They (AIB) have informed us of their intention to sell our loan as part of a large package of similar loans that they hold. We understand that there could be up to 10,000 separate loans involved.
“We are disappointed with the bank’s decision, as we have been servicing the loan as agreed with the bank. We will work closely with the new lender, once the transfer takes place, to find a mutually acceptable outcome.”
The statement concluded by reassuring members and the general public that Letterkenny Golf Club is in good financial health and will continue to provide quality facilities for golf and social events.
