New bank is a step closer

MARYBOROUGH may soon have its own Bendigo Bank branch with discussions under way between community leaders and the bank.

Bendigo Bank community development manager Stephen Hamilton said three meetings had been held with about 10 people and the next step was to get together a group of at least 20 to 25 people to form a committee and participate in a workshop before the end of January.

He said after that, the bank required 30 shareholders to contribute a total of $600,000 to establish a branch.

Mr Hamilton said the benefit of a community bank branch was that 80 per cent of the profits went back to the community, via sporting and charity groups or projects, while the remaining 20 per cent was distributed to shareholders.

“The biggest attraction is that by banking with the community bank branch, every dollar is going back to the community,” he said.

A Bendigo Bank was established in Hervey Bay about four years ago and it, Mr Hamilton said, had already given back to community projects.

He said anyone interested in being involved should phone him on 0408 780 897.



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