The Nationals candidate for Orange, Kate Hazelton, last Friday morning heralded the announcement of funding to expand a survey undertaken by the Canowindra District Community Bank Steering Committee into new banking facilities in the town.
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The committee has received $17,000 from the NSW State Government to deliver a "feasibility study" into a potential Bendigo Bank branch, which will allow an earlier announced survey to reach more residents and businesses in the region.
Ms Hazelton, who is currently campaigning ahead of the NSW State Election to be held on March 23, said that banks are crucial for areas like Canowindra, alluding to her own experience as a farmer and small business owner in the process.
"Small towns like Canowindra need banks… Small businesses like to do direct banking," Ms Hazelton said in an interview.
"You do notice when a bank leaves a small town that it sort of fades away, and that's not what I want to see.
"Bendigo Bank will be a huge asset to this town, and to this region."
Chairperson of the steering committee investigating the new bank, Cheryl Newsom, added that the funding was going to be put to good use.
“This is fantastic news and I can’t wait to get started on the next stage of this project and hear feedback from the community on how a new bank in the community would benefit them,” Ms Newsom said via press release, adding that the committee is already close to fulfilling its preliminary monetary targets.
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“Currently we have $790,000 of pledges on the books, of a target of $800,000 and approximately $12 million of business on the books… The target for this is between $15 million to $20 million."
Ms Newsom, a local media consultant, also added at Friday's announcement that there'll be a presentation from consultants AFS and the Bendigo Bank in early April that will shape the committee's next steps.
"Then we go into planning mode for setting up a business plan and going to the next stage, which is looking at getting together the prospectus for the bank," she said.
