Lynn Haywood (pictured above on the left with Lion Jennifer) from Meander Valley Financial Services Ltd. came to speak to us today about the Deloraine & Districts Community Bank® Branch. It is a most interesting concept where the Bendigo Bank franchises itself as a Community Bank run by the local community for the local community. Fifty percent of the profits are distributed back into the community. Currently there are about 250 such banks operating in Australia with about 20 added each year. Geeveston and Dover had the first Tasmanian branches, closely followed by Swansea and Bicheno and the Deloraine branch was officially opened on 27 July 2005. Typically the banks provides standard banking services including personal, business and housing loans.
Each branch has to conform to all the usual financial institution requirements which includes being listed as a public company on the stock exchange, shareholders and the payment of dividends. Training of the people involved from Directors to staff is auspiced by the Bendigo Bank. In Deloraine they raised enough shares to even have their own ATM.
Community projects for the Deloraine & District branch includes the annual Deloraine fun-run. For more information please call into 49 Emu Bay Road, Deloraine or phone (03) 6362 4801 or click on the below links:
Deloraine Community Bank® Home
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