A Community Bank® for Hall

Could your group use some capital to buy some much needed equipment? How good would it be to secure sponsorship for our local footy team to provide for our juniors of all ages? Would you like to see Victoria Street revitalized with a new street scene to reflect a village atmosphere? Is there a charity or not-for-profit organization in our district in need of funds to further their work? What about a community bus to help our senior citizens access specialized health practitioners?

These and a lot more can become a reality with a Community Bank® .

The Community Bank® story first started in 1998 when Bendigo Bank partnered with the Victorian communities, Rupanyup and Minyip, to pilot a return to banking services in their towns. It succeeded to the point where $100,000 per year is now made available for local community projects in the area.

A decade later, there are 219 Community Bank® branches and quite a few in the various stages of becoming one. To date, there has not been one Community Bank® branch closed, once it has opened. This is testament to the overarching philosophy of a Community Bank®, which is to provide communities with a sustainable future. Besides providing quality face-to-face banking services for local communities, Community Bank® branches contribute both socially and economically by delivering employment opportunities for local people, keeping local capital in the community, are a local investment option for shareholders and providing a source of revenue for important community projects determined by the local community.

How does a Community Bank® work? A local community forms a publicly owned company with a commercial franchise to run a Bendigo Bank branch. Bendigo Bank provides the banking infrastructure and licensing, while the local Board promotes the branch and monitors performance. Together Bendigo Bank and the local community share the revenue, with local surpluses available for reinvestment in the community via grants, sponsorships and dividends to local shareholders. More than a replacement banking service, Community Bank® promotes collaboration and commitment, and it retains and grows local capital for local use. In short, it helps build stronger, more sustainable communities.

How do we make this dream a reality? At the moment we are at the pledge stage, the first of a four-stage process. This is an opportunity for you, as a member of the Hall and District community, to indicate your support as a future shareholder and customer of a locally-owned company. Without enough community support, the branch will not go ahead. A Pledge of support is simply an indication of the amount you intend to invest in shares in your local Company and/or if you would transfer some or all of your banking to the Community Bank®. You can pledge any amount between $500 and $50,000. You are not required to contribute any money during the Pledge stage. Pledges are simply used to gauge the level of community support for a Community Bank®. Pledges are not legally binding and people may change their minds at any time.

A copy of the Pledge Form, and an Fact Sheet about the Community Bank and the pledge process can be downloaded from this site.

For further information:

Andy Fulton 6230 2600
Robert Bruce 0418 689 712
Robyn Monteleone 6230 9414
Peter O'Clery 0417 258 471

Or email:

Pledge forms can be returned to:

The Wood Duck Inn – 13 Gladstone Street, Hall
Hall Service Station – Victoria Street, Hall
Canberra Rural Stockfeeds – Gladstone Street, Hall

Or send to:
Hall District Community Bank Project
PO Box 260
HALL ACT 2618

Or email to:

Hall village Community Fire Unit 13 »