In 2000 when the last of the two big banks decided to close their branches at Paradise Point, there was an obvious void that needed to be filled. Like minded business people and community members approached Bendigo Bank to propose a Community Bank® branch for the local community. Bendigo Bank agreed to investigate the support from the local community for a full service branch. After a successful campaign with businesses and residents embracing the concept, the community raised the required capital of $625,000 via a Public Company prospectus to establish the branch.
Queensland's first Community Bank® Branch opened on 1st October 2001.
The success of Paradise Point Community Bank® Branch, has been remarkable with an additional two branches now established at Upper Coomera and Ormeau, both funded by the original Paradise Point Community Bank® Branch company. Both communities had no banking services with major banks again closing their branches.
Along with returning banking services to these communities, the services also brought greater benefits with extended trading hours including Saturday mornings, and friendly, helpful staff and Branch Manager who are readily accessible.
The branches have not only returned banking services to the community but they have collectively contributed more than $1 million to local schools, clubs and community organisations.
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.