March Member Meeting: Community Bank

29 Mar

The guest speaker at our March member meeting was Eddy Wilkinson, President of the Canowindra Business Chamber, and a member of the Community Bank Committee. Eddy spoke about the benefits a community bank could bring to Canowindra and the process for establishing one here.

The Community Bank concept was developed to provide communities with banking services and access to funding. The basic process is that communities form local publically owned companies which enter into a commercial franchise to run a Bendigo Bank Branch.

Bendigo bank provides the infrastructure and licensing, while the community runs the branch operation and generates customer support in the area. Together Bendigo bank and the local community share the revenue.

The committee is seeking interest from all members of the community, businesses, clubs, services groups and individuals and he appealed to Canowindra CWA members to put themselves forward, especially as there is a shortage of women on the committee.

More information is available from president@canowindrabusinesschamber.org.au and from http://www.bendigobank.com.au/public/community_bank/index.asp.