A BENDIGO community bank branch is set to open in Beaconsfield this August after enough shareholders signed up for the venture.
More than 200 locals have helped the bank’s steering committee reach its $720,000 target.
Chairman Michael Muaremov said achieving this share capital total was a momentous occasion for the community.
“To raise $720,000 is no mean feat,” he said.
“The people of Beaconsfield and district have faith in the community bank model, their community and Bendigo Bank and we look forward to now working towards the opening of our bank branch.”
Members of the bank’s steering committee are hopeful to reach 200 shareholders by the close of prospectus next February.
Now that Beaconsfield District Community Bank Branch has been confirmed as a starter, the local company will continue to sell further shares, valued at $1 each.
Mr Muaremov said one of the key elements to Bendigo’s Community Bank model was to have a wide shareholder base, made up of local people who will transfer their banking to the branch.
“This is an exciting time for our community and we look forward to launching the Beaconsfield District Community Bank branch in coming months,” he said.
