A significant amount of work and public consultation has been undertaken in relation to the feasibility of establishing the Yarra Junction District Community Bank® Branch.
A preliminary public meeting was held to discuss the Community Bank® concept and the steps required to establish a Community Bank® Branch in Yarra Junction. As a result‚ the Company engaged an independent consultant‚ HLM Mann Judd Consulting to conduct a feasibility study in relation to the proposal.
The results of the feasibility study were presented to the Directors at a meeting held on 27 February 2007 and it was unanimously voted to proceed towards the establishment of the Yarra Junction District Community Bank® Branch.
Warburton Community Bank® Branch
The establishment of Warburton Community Bank® Branch was truly a community effort.
Representatives from the Chamber of Commerce‚ Tourist Association and Seventh Day Adventist church joined forces and as a united body‚ successfully applied for a Streetlife Program grant.
The grant enabled the group to initiate a business plan to assess the short and long term viability of Warburton.
In 1998 the group‚ led by local resident Don Vickers‚ decided a priority was to return full time banking services to the town.
A steering committee was formed and‚ under Don's leadership‚ the Community Bank® project led to a $300‚000 shareholding plus a healthy $100‚000 over-subscription.
Upper Yarra Community Enterprise Chairman Ian DeLaRue said it was a long and involved process‚ the branch finally opening its doors for business on February 28‚ 2000.
This was a proud moment for our community.
The real heroes were those who provided funding for the feasibility study‚ fully aware a negative result would have meant the loss of their hard-earned contribution.
The Shire of Yarra Ranges granted $5000 to the feasibility study‚ providing half of the funds required.
Opening our Community Bank® branch sends a clear message from the people of our community that they want a say in our financial destiny and are prepared to speak with their cheque books.