Gerringong community steers bid for bank

NEW VENTURE: A group of local people have united in an attempt to bring Bendigo Community Bank to Gerringong. Photo: Rebecca Fist.
NEW VENTURE: A group of local people have united in an attempt to bring Bendigo Community Bank to Gerringong. Photo: Rebecca Fist.

A discussion about a replacement banking service for the now defunct ANZ Branch is planned for the upcoming South Precinct meeting at the Gerringong Town Hall on March 15.

A group of local people have united in an attempt to bring Bendigo Community Bank to Gerringong.

“The steering committee is providing input pro bono to try to help this notion achieve a sustainable reality,” Gerringong and District Community Bank committee member Lindsay Sharp said.

“We welcome assistance from other interested people and believe a thriving community bank can profoundly assist our community in enhancing our quality of life and our sustainability as a small, local town.”

As of January 31, Gerringong had no bank to service the community after ANZ closed its doors. The nearest financial services are located at Kiama and Berry.

“This not only draws people away for their banking needs but has a flow on impact to where local money is spent,” Mr Sharp said.

“Local sentiment strongly supports having a local bank as a cornerstone of our growing town.

“We have investigated a number of alternatives and believe that the community bank model is the best solution for our community’s future.”

The Bendigo Bank Community Bank Model is 19-years-old, and has 316 branches across Australia with more than 90 located in areas where there is no alternative provider.

The first step the community has to take is to make a pledge, which is simply an indication of the amount of money people would be prepared to invest in shares to establish the Community Bank.

No money is required immediately, it is simply to determine if the financial support is behind the proposal.

“By pledging support for this community project you will be helping Gerringong thrive and prosper in a rapidly changing world,” Mr Sharp said.

Pledge forms and detailed information about the proposal are available at a number of locations including Gerringong Pharmacy.

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