Kyabram and District Community Bank Project's steering committee is seeking support.
An audience of about 60 people attended Kyabram Plaza Theatre last Wednesday evening to learn more about the Kyabram and District Community Bank Project.
They heard from members of the project’s steering committee as well as Bendigo Bank regional manager John Sirolli and representatives from existing community banks.
Steering committee member David Blake said most public meetings he had attended at the theatre had been reactive ones to discuss issues the district was facing.
‘‘For a change, tonight is not about being reactive, its the opposite, its about us the Kyabram community being as proactive as we can possibly be,’’ he said.
Mr Sirolli explained the concept of a community bank, what was needed to start one, how it worked, the services it offered, how proceeds were managed and what government guarantee was offered against deposits.
Tongala Community Bank chairman Neil Pankhurst and Llew Vale from Toora Community Bank spoke about benefits these communities had seen since setting up their own community banks, while Kyabram resident Dermot Brophy spoke from a retiree’s perspective.
Steering committee chairman Vince Curtis outlined how shareholders were initially needed to own the bank, how directors oversaw operations and how profits were directed to help fund local projects.
Mr Curtis also spoke about why the committee believed Kyabram needed a community bank and listed a number of local projects it believed could consequently be achieved in future.
‘‘We can wait or we can get together to do something ourselves. If we’re prepared to put our money into this, it’s more likely we would get government funding to go with it,’’ he said.
Mr Curtis encouraged anyone wanting to support the project to either pledge to buy shares in the community bank or open accounts.
A pledge target of $750
For more information about the project or to request a pledge form, phone Vince Curtis on 0410
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