November 22, 2012
Bendigo Bank’s new Nanango Community Bank could be just weeks away … providing it gets enough shareholders.
The deadline to purchase shares in the bank is December 10.
The share prospectus must raise a minimum of $515,000 before the bank can open its doors.
Representatives from the South Burnett Community Bank Group addressed Wednesday’s South Burnett Regional Council meeting about the project and said they received a good hearing.
They told the Council that while the Yarraman branch hadn’t initially been profitable, it had gone on to become one of the most successful community bank branches in the franchised chain – so much so that a major celebration will be held in Toowoomba soon to mark the occasion.
They also said that shareholders in the branch had received “a very good return” on their investment over the term of the branch’s existence by way of dividends and share issues.
The branch had also been able to make “significant contributions” to many community organisations over many years. such as the donation of a new Commodore to Graham House Community Centre volunteers in July to help transport elderly people and people with a disability to medical appointments both inside and outside the South Burnett.
For more information about shares in the new Nanango branch, contact Judy Robison on 0467-599-791 or pick up a prospectus from either the Yarraman or Blackbutt branches.
The Nanango branch will be located in the old bank building on the corner of Drayton and Fitzroy streets.
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