Survey for new bank

By Dion Teasdale
HOUSEHOLDERS in Yarra Junction have been asked to put pen to paper to help make a community branch of the Bendigo Bank a reality in the town.
The Yarra Junction Community Bank Steering Committee, which has so far raised more than $600,000 in pledges for the proposed bank branch, has kicked off a community survey.
Jaqui Hall, chairwoman of the steering committee, said the group had commissioned an independent feasibility study to test the viability of the branch and that the study would need the support of the local community.
“This week every household in Yarra Junction and the surrounding areas will receive a copy of a survey in the mail which aims to create a snapshot of the banking practices of the district,” she said.
“The confidential survey asks simple questions about the way people bank and it only takes 10 minutes to fill out so we are asking everyone to take the time, answer the questions and return it.”
Ms Hall said households in Yarra Junction, Don Valley, Powelltown, Wesburn and Launching Place would receive the survey and have until Friday, 8 December to complete and return it using a supplied reply envelope.
“So far we’ve had amazing support from the community in trying to get a community bank up and running and we need people to help us keep the momentum going,” she said.
Ray Seeger, coordinator of the feasibility survey, said it was a vital step in the process of creating a community bank in Yarra Junction.
“This is the part of the campaign where we test the viability of creating a branch and it is vital that we get surveys filled out and returned to us,” he said.
Mr Seeger said the steering committee hoped to get the results of the survey back by the end of January and would continue to accept pledges for investment in the bank until the end of February.
“People who have pledged their support will be invited to the launch of a prospectus for the bank at the end of February and have the opportunity to turn their pledges into shares,” Ms Hall said.
“Then, hopefully, we’ll have a community branch of the Bendigo Bank up and running in the heart of Yarra Junction some time in May or June.”
Ms Hall said the success of the community bank campaign to date was due to a strong community spirit in the area.
“The local community have embraced this project and given it their full support and that shows there is a strong sense of purpose and pride in Yarra Junction alive and well in Yarra Junction,” she said.