 | What is Community Banking? |
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The Community BankŪ model was developed by Bendigo Bank to provide communities with the certainty that banking services will be available locally.
It is a franchise, with the community owning the rights to operate a Bendigo Bank branch.
The local community forms a public company limited by shares to represent the local community. The company raises capital locally and purchases from Bendigo Bank the right to run a bank branch.
A Community BankŪ branch has many benefits, including:
- delivering employment opportunities for local people
- keeping local capital in the community
- providing a local investment option for shareholders
- providing a source of revenue for important community projects determined by the local community
- providing a full range of personal and business banking.
Since 1998 local communities and the Bendigo Bank have successfully established over 260 Community BankŪ branches throughout Australia, that collectively have returned over $4 million dollars to their local communities.
We want the next Community BankŪ to be established in Jerrabomberra. However, the bank cannot open without shareholders.
Sign up to receive the Prospectus once it is released, allowing you to buy shares to build your bank and build your community.
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