We have done a lot of work with Bendigo Bank and engaged in extensive public consultation to assess the feasibility of Sheffield and Railton Community Bank® Branch in our community.
A preliminary meeting was held on 24 February 2010 to discuss the concept and the steps required to start a Community Bank® branch of Bendigo Bank. As a result, the community formed a steering committee to assist in evaluating the proposal and to work towards opening a Community Bank® branch.
Bendigo Bank and the steering committee worked together through the public awareness campaign before the steering committee decided, with the agreement of Bendigo Bank, to continue the process to start a Community Bank® branch in Sheffield and Railton District.
Based on the level of support shown, the steering committee engaged an independent consultant to conduct a community survey and provide information about economic, demographic and local conditions, in Sheffield and Railton District community. This survey was conducted during September 2014 – November 2014.
After confirming the effectiveness of the public awareness campaign,assessing the level of community engagement and support for Sheffield and Railton Community Bank® Branch through the community survey process, and Bendigo Bank making a qualitative assessment about whether to agree to a Community Bank® branch starting in Sheffield, the steering committee formed a company – Kentish Financial Services Limited.
Having completed a successful capital raising process, the Company will conduct a retail branch operation under a franchise granted by Bendigo Bank – Sheffield and Railton Community Bank® Branch.
The branch opened 1 December 2016.
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.