Buninyong & District Financial Services Limited
Buninyong Community Bank® Project
News and Events
Community Bank Branch Opening!
The Board of the Buninyong & District Community Bank is pleased to advise that the company's Bank Branch will open at 4pm, Friday August 6th 2010. There are to be two events over two days, and you are invited to attend both of them!
Formal Opening: Friday, August 6th from 4pm
- Timed to suit "after school"
- Officials from Bendigo Bank, Ballarat Mayor Verlin
- Community Bank® Chairman & Directors
- Speeches from a truck parked in Eyre Street
- Marquee on branch site for rainy weather shelter
- Aerial photos of the crowd from a cherry picker
- Bendigo Bank's big COMMUNITY letters
- Bendigo Bank's Piggy
- Buninyong CFA Fire Engine
- School colouring competition prizes
- Donations to Community groups
- Manager & Staff introductions
- Ribbon cutting, celebratory cake to be shared
- Branch Open House
- Afternoon tea by CWA
- Kids jumping castle
- No banking business on Friday
Family Day: Saturday, August 7th from 9am
- Shareholder to perform ceremonial "Open for Business"
- Banking business available
- City of Ballarat Brass Band up & down the street
- Bendigo Bank's Piggy
- Buninyong CFA Fire Engine
- Kids jumping castle
- Novelty balloon tying
- Face painting
- Sausage sizzle by Lions
Promotion:
- Souvenir lift out in The Courier
- Bank's trailer in the street
- Bank's website
- Shop window posters (with trader co-operation)
- School colouring competition
- "Count the U Moneyboxes" competition
- Branch window sign writing
- Handout flyers & giveaways
BUNINYONG TO GET ITS BANK!
With just one day to spare to meet ASIC regulations, the target of $650,000 investment capital needed to open the first bank in Buninyong for more than thirty years, was reached on 17th December 2009.
The Buninyong and District Community Bank is expected to open its doors in May 2010. Building will start in about four weeks' time as all planning approvals are in place. The new bank will be located at the corner of Warrenheip and Eyre Streets, Buninyong - a site with excellent parking and access.
According to the Chairman of the Bank's Board, John Emery, the strong support by residents and businesses will "make this a red letter day for the village". More than 200 residents and businesses have joined together to invest in their Community Bank in a grass roots effort to enhance their town; a significant achievement in difficult economic times.
Huge effort
He said that the past four or five weeks had seen a "huge effort by all Board members. They have been standing at information booths, telephoning people, speaking to community groups, writing letters, preparing brochures, undertaking media publicity, and keeping residents informed through signboards, and even using a large A Frame sign on a mobile trailer."
The eight volunteer Directors have met weekly for the past nine months, and have provided money from their own pockets to pay for the costs of items such as postage, signage, advertising, stationery, travel and public liability insurance.
Mr Emery said that a major boost for the new Bank at the time of its opening will come from the anticipated $10 million worth of business that will be on the books at that time. Over the past year or so, many local people have helped by having their accounts with Bendigo Bank linked to the proposed Buninyong community bank.
"This may mean that the community bank will reach a profitable situation earlier than planned which, in turn, will result in earlier dividends to investors and grants to community groups", he said.
The new Buninyong Community Bank will operate as an independent community owned company under a franchise agreement with Bendigo Bank, joining 250 other such banks around Australia.
For more information : Barry Fitzgerald, Community Bank Board (Media Liaison) 5341 2844 /0432 877 439
Although we have achieved our minimum investment criteria and therefore the bank will open, the investment opportunity will be held open for a short while longer, so there is still a chance for people to invest if they want to.
The establishment of the Buninyong & District Community Bank® branch of the Bendigo Bank affords our community the chance to secure the return of branch banking services to the town after a 30-year absence, and to improve our community's long-term prospects by retaining greater control over our financial and social resources.
Community Bank joins Rotary Farmers Market
Following the successful capital raising activity, the Buninyong & District Community Bank has joined the Rotary Farmers Market in Buninyong to help spread the news about the bank, our project schedule, and how the community can participate and benefit.
Pictured, right, are some of your directors with our initial, (impromptu!) set up at the December 19 2009 Farmers Market
Grand Final Day Sausage Sizzle A Success
On AFL Grand Final day, September 26 2009 your board hosted a free Sausage Sizzle outside The Buninyong Foodworks. Supported by the Buninyong - Mount Helen Lions Club, directors were on hand to bring community members up-to-date on progress towards establishing the Buninyong & District Community Bank® branch.
Despite the (welcome!) rainy weather, hundreds of sausages were consumed, and many happy children had their faces painted in their team's colors.
The Community Bank has now established the Grand Final Day Sausage Sizzle as a permanent event on our calendar. Our thanks to Buninyong Foodworks, Buninyong Bakehouse, John Harbor Meats and the Lions for their support and Damien Butler Chartered Accountants for their sponsorship of the facepainting!
Prospectus Launched
About 100 people attended the launch of the prospectus in the Buninyong Town Hall on 9 September. The launch marked the start of the sale of shares in the new local company. Speakers were Chairman of the local bank Board John Emery, and Jim Christie who has assisted in the development of many Community Bank® branches throughout Australia.
Download the Prospectus (PDF file)
Branch Site Selected
Following a thorough investigation and tendering process, the site on the corner of Warrenheip and Eyre Streets, 401B Warrenheip Street, has been selected for our new Community Bank® branch building. Once minimum share capital has been raised, we will commence building a brand new branch building.
Directors erect a public notice sign at the branch site (Photo courtesy of The Miner)
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