A group of interested community members was briefed by Bendigo Bank in August 1998 in relation to the proposal to establish Lancefield Community Bank® Branch and a committee was formed to evaluate the proposal.
A preliminary public meeting was held to discuss the Community Bank® concept and the steps required to establish a Community Bank® Branch of Bendigo Bank. As a result‚ the committee engaged an independent consultant to conduct a feasibility study in relation to the proposal.
The results of the study were presented to the committee at a meeting held on 20 December 2000 and it was unanimously voted to proceed.
A public company was formed and a Prospectus was issued in January 2001 to raise share capital. The issue was over-subscribed and $400‚000 was raised.
Lancefield Community Bank® Branch officially opened for business on 26 May 2001.
Our depositors are protected under the Australian Government’s Financial Claims Scheme (FCS) which provides protection and quick access to deposits made with a bank, building society or credit union in the unlikely event that one of these institutions fails. Find out more here.