Pledges needed to make Canowindra Community Bank possible

More pledges are needed to make the Canowindra Community Bank a reality. Photo supplied.
More pledges are needed to make the Canowindra Community Bank a reality. Photo supplied.

The Canowindra Community Bank Committee is calling on all local residents to send in their pledge forms as soon as possible.

With a target of $800,000 required to kickstart the Bank in Canowindra, and to date with just around the $300,000 committed there is still quite a long way to go.

To make a Branch a reality, communities like Canowindra form a locally owned company to obtain a commercial franchise to run a Bendigo Bank branch.

While Bendigo Bank provides banking infrastructure and support, the community manages the branch, marshals community support and returns profits to the local community.

In short, a Community Bank branch means more than just banking services.

It encourages collaboration and commitment, and keeps local money and local jobs in the community.

Your pledge is part of the capital required to start a Community Bank and at this stage all that we require is an indication of your intention to purchase shares in the community company or transfer your banking business to the proposed Canowindra Community Bank Branch.

On Saturday, January 27, there will be a stand in Gaskill Street, just outside IGA, where members of the Committee will be on hand to answer any questions you may have on the Bank and how to pledge.

Come along and say along and start to support your local community through the establishment of a local Community Bank.

Contact Cheryl Newsom 0411 211 065 or Graham Rice 0427 090 587