<< Peninsula News 24 September 2002 - Bank committee pushes campaign forward >>

Bank committee pushes campaign forward

The opening of another two community-owned bank branches in New South Wales during the past four days has prompted the Ettalong bank committee to push its campaign forward.

Already more than halfway towards the pledges of support required, the Ettalong committee is confident it can use the success of other NSW Community Bank campaigns to its advantage.

Ettalong Beach Community Bank steering committee co-ordinator Cr Debra Wales said the recent openings of community-owned branches in the NSW communities of Braidwood and North Richmond had buoyed the team.

"An increasing number of communities throughout Australia are working with Bendigo Bank in an effort secure full-time and traditional banking services for the future," Cr Wales said.

The establishment of a community bank in Ettalong Beach will do the same for this community and surrounding towns as it has for 78 other communities throughout Australia, she said.

"Not only will it restore full time banking services, it will also confirm what we already know: That we have a committed and proud community here on the Central Coast."

The local steering committee has raised $240,000 in indicative pledges of support, more than halfway towards the pledge target of $450,000.

The committee members is hoping to have reached the target by the end of September, enabling the community to proceed to the next stage of the campaign, a feasibility study.

"We have the money required to undertake a feasibility study but we're not prepared to spend that until we are certain that we have the support of our entire community which includes residents, traders and local business people," Cr Wales said.

"If you haven't already done so, pick up a pledge form from the Ettalong Beach post office or any of the community's local traders, complete it and return it as soon as possible and help us open Ettalong Beach Community Bank."

In other community bank news, Bendigo Bank's national network of 78 branches has reported that its business has reached a turnover of $2 billion.

"The achievement is all the more significant considering the first billion dollars was achieved in a three-year timeframe, the second billion dollars in just under 12 months," said Cr Wales.

The East Gosford Community Bank reported business of more than $53 million since opening in August 2000.

Media release, September 13