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16 August 2001

Community Bank pledges rolling in

There is still time for the residents of Lightning Ridge and the surrounding areas to become shareholders in the proposed Branch of the Bendigo Community Bank.

We have had a number of locals pledge up to the maximum allowable amount of $5000, while the $500 shareholding pledge has been the most popular.

On Monday we spoke to one of the depositors with the small Oak Flats Branch of the Bendigo Community Bank and his enthusiasm caused us to phone the Branch supervisor there for information as to how they raised the initial $400,000 deposit and how they have fared since.

The lady I spoke to has connections with Lightning Ridge and was very interested in what we are doing. She pointed out that their small branch now has deposits totalling $24 million dollars. They are literally flying. Shareholders and depositors are most pleased and are causing other branches to be opened up near them because of the success of the existing branches.

She is most interested in our progress and has given us great advice. Still, we need to raise the initial deposit of $400,000 and would like to ask you to post in your pledges for amounts between $500 and $5000 per person to

The Working Committee
Locked Bag Number 1

These pledges are not binding, but merely an indication of your interest to become a shareholder. We are also in the process of searching for interested locals to join the working committee and will be calling a public meeting as soon as enough pledges have been received. Publicity

Herman Kreller
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