East Malvern Community Bank - Bendigo Bank
In the six years to June 1999‚ over 1700 bank branches closed in Australia‚ as part of a cost rationalisation program by the major banks. As a way of restoring bank branch services in communities disenfranchised by the loss of local branches‚ Bendigo Bank devised the Community Bank® model.
East Malvern Terminus Village lost its two branches as a result of major banks rationalising and traders experienced a general decline in business. The traders recognised that a way of restoring local patronage was to get a bank branch into the community shopping centre. In April 1999‚ traders organised a public meeting‚ with the dual aims of gauging public interest in a local Community Bank® branch and of creating a steering committee to examine the feasibility of putting a Community Bank® in place.
A steering committee was elected and in June 1999‚ Bendigo Bank briefed the committee on the steps that needed to be taken. The steering committee then proceeded to raise public awareness and to garner public support by way of indicative pledges.
When the total value of these pledges reached a prescribed level‚ a public meeting was held for citizens to be advised of the next step.
The first was a feasibility study and an independent consultant was engaged to carry this out.
The results of the feasibility study were presented to the committee and on 5 October 1999‚ the steering committee voted unanimously to proceed with a Community Bank®branch.
East Malvern Community Bank® Branch officially opened for business on 6 May 2000.
- Street: 300 Waverley Rd
- Postcode: 3145
- City: East Malvern
- State: VIC
- Country: Australia
- Telephone: 03 9563 6044
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