BUNINYONG will get its first bank for more than 30 years very soon.The target of $650,000 was reached yesterday, just scraping in before the four-month deadline - which began on August 18 - expired.More than 200 residents and businesses have invested in the project despite the global financial crisis.If all goes to plan, the Buninyong and District Community Bank should open its doors in May.Building is expected to begin on the corner of Warrenheip and Eyre streets in about four weeks, with building approval already in place.Chairman John Emery said there would be an estimated $10 million of business on the books when the bank opened, due to many people linking their Bendigo Bank accounts to the Buninyong branch."This means that the community bank will reach a profitable situation earlier than planned, which, in turn, will result in earlier dividends to investors and grants to community groups,'' he said.He said the eight volunteer directors had put in a "huge effort" over the past four or five weeks."They have been standing at information booths, telephoning people, speaking to community groups, writing letters, preparing brochures, undertaking media publicity, and keeping residents informed through signboards, and even using a large A-frame sign on a mobile trailer," Mr Emery said.The Buninyong Community Bank will be an independent, community-owned company under a franchise agreement with the Bendigo Bank, similar to 250 other such banks around Australia.* Visit www.buninyong.vic.au/communitybank for further details
Buninyong: Bank set to open in May
