Doncaster East Community Bank® Branch
Ten years ago there were five branches of the major trading banks in Jackson Court Shopping Centre serving the local community and traders. By May 2001 the last of those branches had closed.
The loss of those branch banking facilities was keenly felt and in May 2001 members of the Jackson Court Traders Association convened a public meeting to explore the idea of operating a Community Bank®. An audience of 300 people enthusiastically indicated support‚ including a willingness to become shareholders in the venture‚ and a Steering Committee was formed to explore the possibilities with the Bendigo Bank Limited.
The Steering Committee of sixteen people consequently met regularly and in collaboration with staff from the Bendigo Bank Limited head office and‚ with the generous support of the City of Manningham Council‚ went on to raise money for a feasibility study. The feasibility study endorsed the viability of such an enterprise and within a few weeks enough capital was raised to form a public company to operate as franchisee of the branch for the Bendigo Bank Limited‚ It is worth noting that within three weeks of the issue of the company’s prospectus the share issue was over-subscribed‚ something of a record - and in June 2002 the public company Doncaster Community Financial Services Limited was registered.
Suitably prominent premises were found at 900 Doncaster Road‚ Doncaster East. Lease arrangements were made and the building fitted out‚ the Doncaster East Community Bank® Branch – Bendigo Bank Limited opened for business at on 18 March 2003.
The local community has patronised the Branch to the extent that business growth records have been broken‚ and the Branch ranks among the top performing Branches in the country in terms of funds under management‚ transactions and customer satisfaction. True profitability was reached in the 2005/2006 financial year and the shareholders’ confidence rewarded with their first dividend.
The Branch continues to grow strongly‚ distributing a significant part of the profits to the local Manningham community in the form of dividends and sponsorship support; while steadily increasing its beneficial importance as a good ‘corporate citizen’.
In July 2007 the Branch management proudly announced that funds under management are now in excess of $100 million.
Templestowe Village Community Bank® Branch