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Canberra Today 15°/17° | Thursday, March 28, 2024 | Digital Edition | Crossword & Sudoku

Curtin’s community bank now open!

THE long-award Curtin Bendigo community bank has officially opened its doors.

The bank, which was expected to be opened last month, has raised more than $750,000 in pledges from about 250 local shareholders.

The community bank model runs like a franchise with the community owning rights to operate a Bendigo Bank branch.

The community forms a public company limited by purchasing shares. All capital that was raised not only goes towards the construction of the branch, but back into the general running of the branch.

The branch will employ six staff and will offer all the same services of a big bank, such as personal savings and investments; business solutions; commercial finance, leasing, financial planning; superannuation; internet and phone banking; and video conferencing.

Curtin is not the first site for a community bank in Canberra, with Bendigo community banks set up in Calwell and Wanniassa in 2002, joining 274 community banks around Australia.

 

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