Town close to securing Bendigo BankJune 25, 2014 3:40am
Kyabram people are getting closer to their goal of establishing a Bendigo Bank branch in their town.
Community bank steering committee chairman Vince Curtis said the committee had already raised $793
The aim is to raise $950
‘‘We’re getting very close now, we’re looking very closely at a couple of sites and we’ll soon have the funding in place for the extensive feasibility study,’’ Mr Curtis said.
‘‘The study will be undertaken by an external consultancy group and they will be getting feedback from the community as to what their thoughts are about the Bendigo Bank community bank model.’’
Mr Curtis said he expected Bendigo Bank’s management to approve the study, which would allow the committee to generate a prospectus and convert the pledges into cash.
Once that was done, the committee would look at fitting out a site and employing staff.
He said with the continued support of the community the committee aimed to open the Kyabram Community Branch in the first half of next year.
‘‘We still require more people to pledge so we reach our required target to get this off the ground,’’ he said.
‘‘A minimum of $500 is all that is required to pledge and we welcome as many people who can afford this to get on board. The total pledges we can accept is capped so get on board so you don’t miss out.’’
Mr Curtis said the most important thing was people who were interested in moving their banking businesses over did so right away.
‘‘If we open the doors and have zero banking on the books, it’ll take a number of years before we’re making a profit and a number of years before we can pay dividends or give out grants,’’ he said.
Mr Curtis said the community bank would bring many benefits to Kyabram residents.
‘‘Given the series of hits the town has taken with SPC, the Heinz factory and of course Banksia (Financial Group) closing down, it’ll be one huge confidence boost.
‘‘It will give the town the opportunity to take control of its own destiny in the way people who are doing their banking will be able to contribute to and keep profits in the local community.’’
Mr Curtis said there was already talk of what projects the community bank could fund.
‘‘For instance, a new aquatic centre or town hall restoration of the Northern Oval, right down to the sponsorship of community groups and sporting clubs,’’ he said.
‘‘Community banks right across Australia have a history of tipping huge contributions into their local communities.’’
Mr Curtis said people who wanted to open an account should phone Bendigo Bank or visit an existing branch and quote the branch number 72150.
A Nagambie teenager who suffered serious facial injuries after falling from her dirt bike at high-speed in October last year waited 40 minutes for an ambulance to arrive.
After what she went through 10 months ago, there could not have been a more popular 2016 Lady Club Champion of Yarrawonga Mulwala Golf Club Resort than Judy Langford.
The Aboriginal and wider community is mourning the death of revered Bangerang Aboriginal elder, Uncle John ‘‘Sandy’’ Atkinson.
BRADY Threlfall is fast – over 20km, or 30km or even 42.2km (when he’s running a marathon).
NEW Yorta Yorta ‘welcome to country’ signs welcoming travellers to parts of north central Victoria were installed on the Northern Hwy just outside of Rochester and in Cohuna on Wednesday.
Six Kyabram boys will take part in this years Goulburn Murray V/Line Cup.
Where there’s a Will, there’s a way
Berrigan Shire councillor Daryll Morris says he has been sickened by some of the vitriol and personal attacks to surface since the council’s proposal to redevelop Finley’s Memorial Hall and School of Arts site was revealed in October last year.
THE Holy Rosary Primary School community said a sad farewell on Friday to office manager Joan Short who retired after 38 years at the school.
This week the Cobram Courier and McPherson Media Group are launching a campaign to support the dairy industry, which has been hit by major milk price cuts.
Local owners stoked with horses success.
A Melbourne academic has some tough things to say about dairy, and Country News editor, Geoff Adams has a few responses.
The News magazines are online - read high quality magazines in your time. Check in regularly for the latest editions.
Riverine Herald's well regarded locally produced magazines. They're now online, so you can read them whenever and wherever you like.
Search for published and unpublished photos from McPherson Media Group newspapers and magazines. All our photos are available to purchase.
Place an advertisement in any one of McPherson Media Group's local newspapers.