IRISH NATIONWIDE has agreed to meet the Irish Bank Officials Association (IBOA) next week in a move that is expected to lead to the full recognition of the trade union within the building society by senior management.

Gerry McGinn, chief executive of Irish Nationwide, wrote to IBOA general secretary Larry Broderick yesterday confirming that senior management were willing to meet the union.

The union will discuss the future of the building society in the context of the anticipated consolidation within the banking sector following the transfer of €77 billion in loans from five institutions to the National Asset Management Agency (Nama).

The terms and conditions of employment will also be on the agenda for discussions between the union and senior management at the building society, which had 374 staff at the end of 2008.

Irish Nationwide strongly resisted the involvement of any union within the organisation under former chief executive Michael Fingleton during his 38-year tenure at the building society.

Mr Fingleton stepped down as chief executive last April. Mr McGinn assumed the role last June.

The IBOA wrote to senior management at the building society last month seeking a meeting after a large number of staff across Irish Nationwide’s 50-branch network had applied for membership of the union.

Yesterday Mr Broderick called for a meeting with Minister for Finance Brian Lenihan to clarify the future of Irish Nationwide, and to provide assurances that staff within the building society “do not pay for the mistakes of senior management who were responsible for Irish Nationwide’s property lending”.