Community Bank® campaign launched

Mayfield Community Bank® Steering Committee • media release •  Wednesday, 11 March, 2009

Invitation to support the establishment of a Mayfield Community Bank® Branch of Bendigo Bank.

A Community Bank® branch is a locally owned and operated company, which functions as a franchise of Bendigo Bank. Bendigo Bank and the community company are each entitled to agreed portions of the revenue of the local Community Bank® branch and the local company is responsible for paying branch running costs.

When the local company begins to make a regular operating surplus, after the payment of branch running costs, and Bendigo Bank’s share of the revenue is received, the remaining funds are available to be reinvested back into the community through dividends to shareholders and grants to community groups and projects.

The local committee and Bendigo Bank will officially launch the campaign – the first stage in a process to gauge community interest in the concept. Those who feel passionately about the establishment of a branch are also encouraged to join the steering committee.

Steering committee spokesperson Niko Leka urged people interested in the Community Bank® model to attend a meeting on Sunday, 22 Match at the St Columbans Church Hall, 39 Church Street, Mayfield, beginning at 4pm.

Committee members and senior Bendigo Bank staff will be available at the meeting to answer any questions local people may have about the Community Bank® model and the Mayfield campaign.

Bendigo Bank currently supports 229 Community Bank® branches throughout Australia. The number of Community Bank® branches has doubled in the last four years and in the same time frame, customers have tripled their commitment of banking business to the community network, increasing it to more than $11 billion.

More importantly, in excess of $21.7 million in Community Bank® branch profits has been returned to community projects and $12 million has been paid in dividends to more than 50,000 local shareholders. 

Add to those contributions the employment of more than 1000 staff members and daily expenses in the local economy and you have a truly meaningful contribution to those communities and to local prosperity.

Mr Leka said behind those numbers are hundreds of stories of Community Bank® branches making a real difference to the lives of local people.

“Last financial year, the North Richmond Community Bank® Branch returned more than $118, 000 back to the community and paid a 11 cent dividend to local shareholders.
“That’s a great contribution and it’s time Mayfield benefitted too,” he said.
Branches also have extended trading hours, 9am to 5pm Monday to Friday and 9am to 12pm on Saturdays.

Click here to download a good quality copy of the poster to distribute as widely as you can! The more people there are, the sooner we get local banking up & running....

Media enquiries: Anne Rooke-Frizzell 4968 3648 or Niko Leka 0406 296 141 • 

email: niko@idl.com.au • Visit blog: http://mayfieldcommunitybank.blogspot.com/

If you're interested in helping to organise, join the e-list:

http://au.groups.yahoo.com/group/mayfieldcommunitybank/