Community Bank in Fernvale

Get your pledge in now to make our bank branch a reality

Local people have pledged almost $150,000 towards the campaign to bring a Community Bank® branch to the Somerset Region.

Forty local people have pledged their support, as the committee works towards its target of $650,000 worth of pledges from 300 local people.

Somerset Region Community Bank Steering Committee Chairman John Blackburn said while the support so far had been great, more was needed from a wide range of local people before the next stage of the campaign could be considered.

“There may have been some uncertainty in the community, caused by the recent Bank of Queensland merger proposal to Bendigo Bank,” Mr Blackburn said.

“As you might be aware, Bendigo’s Board rejected the Bank of Queensland proposal in April,” he said.

He said the Somerset Region committee had been working hard since the start of the year to raise the minimum amount of pledges before moving to the next stage of Community Bank development.

“The community has provided great support so far and I urge everyone who hasn’t already done so, to consider getting involved,” Mr Blackburn said.

“We need to get as many pledges of support as possible and then have people turn those pledges into the purchase of shares when the time comes,” he said.

“Remember this will be our bank branch and while it will be hard work, the bigger effort we make now, the bigger the rewards will be for the community in the future.”

There are already 195 Community Bank branches across Australia and they have distributed more than $8.6 million in branch profits to community projects and organisations.

“We want to be a part of this success story and the only way that can happen is with your support,” Mr Blackburn said.

“To be truly community owned, we are aiming to have 300 local shareholders, and we need to reach a minimum of $650,000 in pledges.

“By pledging as little to purchase just $500 worth of shares, you will help make Somerset Region Community Bank Branch a reality.”

For more information on the campaign, or to pledge your support, contact Mr Blackburn on 0412 999 523.