Community Banks have an innovative ownership structure and operational framework that works with the community in which each branch has been established.


Each branch is owned and operated by people within that community who work together to build social capacity and support economic growth in that particular area.

Basically- Community Banks are run BY the community FOR the community.




How does a Community Bank Branch Begin?

To establish a branch of a Community Bank, a local public company made up of shares owned by members of the community, purchases the right to open a Community Bank branch. Branch shareholders meet the costs of the branch premises, its fittings and systems and the general running of the branch.
The Community Bank then covers the banking licence, branding, product development, systems and supports the branch with operational requirements such as marketing support, training, stationery, statements and administration.

How does a Community Bank Branch HELP the Community?

Community banking offers local service for the community- something that has been said to have been lost in the banking world in recent years. Each branch is tailored towards that particular community, helping customers with their specific banking needs and offering a friendly face to assist them- instead of a computer or distant call centre.

Community Bank branches are also owned by local shareholders, so local shareholders benefit directly from their partnership with the Community Bank.

Also, the ability for Communities to grow from within has a significant positive impact on the community and its ability to support itself. In some rural areas, there are no banking options available, so being able to own and open a local branch strengthens and reconnects a community and even creates new jobs of local people.

As Community Banking strives to foster both economic AND social growth, each branch contributes 80% of its profits back into the community. Encouraging and supporting local enterprise and development is just another way that Community Banks endeavour to truly work to benefit the local area and its members.

 

The Windsor Community Bank® Branch project started back in the year 2000.

When the last of the major banks had left the Windsor shopping strip, a number of traders and residents got together to form a Steering Committee to investigate the Community Bank® opportunity developed by Bendigo Bank.