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Buderim’s own Community Bank® branch
BUDERIM COMMUNITY BANK® PROJECT MOVES TO NEXT STAGE
Having received over 300 pledges to possibly purchase $816,000 worth of shares the Community Bank’s Steering Committee now begins work to establish if the venture will be commercially viable.
Buderim will be put under the microscope in a feasibility study carried out by a consultant independent of both the Steering Committee and of the mentor Bendigo Bank.
In the coming weeks thousands of survey forms will be mailed to homes and businesses asking recipients what level of banking business they would consider bringing across to the Buderim Community Bank®.
Committee Chairman Keith Neuendorf said:” We are excited at the level of the community spirit we have mustered, but the venture must be seen to be commercially viable if it is going to be a success.
“Clearly by pledging well over our target figure of $600,000 we have a very strong indicator that Buderim people would like to have a Community Bank and be prepared to be shareholders.
“The study will determine not only how many locals would be prepared to bank with the branch, but also the level of banking business they have, and the extent they would be willing to commit.
Mr Neuendorf emphasized that it was important for all involved to understand that the study was confidential to the consultants and that neither Bendigo Bank nor the Steering Committee would have access to the confidential banking details of individuals.
“Only the consultant will collect the survey forms from which details will be put through a Community Bank financial model out of which will come a business forecast.
“From these figures will the Committee make a decision whether or not to proceed, so I encourage all those locals as private citizens or in business or trade or professions to take part in the survey.
To help make Buderim Regional Community Bank a reality contact:
· Keith Neuendorf 5443 1188 (Chair of Steering Committee)
· Jenni Davis 0418 387 079 (Secretary of Steering Committee)
Local money, local jobs and support for community projects.
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