Click Here For News Main Index
Copied with permission of
25 October 2001

Accolades for Bendigo Community Bank

It has been absolutely astonishing to see the many wonderful reports from small communities around Australia regarding their local branches of the Bendigo Community Bank.
Last Sunday there was an in-depth program on TV about the beneficial effects of their branch of the Bendigo Bank on the small community, with some of the residents calling this bank their town's saviour. Also, the Sunday papers a couple of weeks ago printed similar articles.
Even some of the national magazines, such as New Idea, have devoted extremely favourable articles to this brilliant concept of community owned banking.

It is a sad fact that other banks now derive almost all of their immense incomes from the average person in the form of charges and fees. These banks have to not only appease their shareholders with high dividends, but also provide their Chief Executive Officers with the new customary "performance" bonuses. I ask you to consider what makes up the basis for a multi million dollar performance bonus?

So, why is it so hard to gain enough pledges from our local community to fulfil the required minimum share holding?
Because of the widely spread area we have to reach, with such a large percentage of our population living so far out on the mining fields.

Next time you are in town, visit the office of this paper to pick up one of the pledge forms, or call at the Opal Cave which is open seven days, and complete the simple form. It is non-binding, and is kept totally confidential. Pledges are from $500 to $5000 each and will help the community as a whole. Remember, half the profit of the Community Bank remains in town.

Working Committee
Click Here For News Main Index