Community banking comes to Meeniyan
THE Meeniyan Bendigo Bank branch officially opened inside IGA supermarket last Friday, celebrating the town’s first bank with the bank’s mascot Piggy and a sausage sizzle from local CFA volunteers.
“Four staff members will look after local banking needs where customers can open accounts, make deposits, conduct general transactions with the bank and also cater to mobile lending needs after hours, if need be,” branch manager Sharon Demaria said.
An ASIC registered board of directors manages the business side of the bank, where community bank branches are managed by a public company, Promontory District Finance Group Ltd (PDFG), in turn owned by the local community.
In recent times the board has donated about $1.1 million towards annual grants and scholarship programs to assist first year university students.
Community banking and “being part of something bigger” are mantras the bank hold dearly. Revenue from the banking operation is shared equally between Bendigo and Adelaide Bank and the local Community Bank, where the local Community Bank’s share of revenue meets the branch’s costs for day to day operation.
Post-profits made after costs are then re-invested back into community projects.
New bank: the faces behind the new Bendigo Bank branch at IGA, Meeniyan, from back left, board chairman Robert Liley, Kerri Mangiafico, Ineke Degraaf, risk and compliance manager Louise Gavros, regional manager Gerry Marvin and Michael Shervell. From front left, branch manager Sharon Demaria, Piggy, Tara Hollier and IGA owner Kaelene Shervell.
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