14 April, 2023
Here to stay: Gil’s Bendigo Bank opens new branch in their own building
Bank closures have become the norm for country towns, so it’s both gratifying and exciting to see a bank branch open.
Moving just a few doors down on Miller
Street, Gilgandra’s revamped Bendigo Bank branch
officially commenced at its new premises last week.
A crowd formed outside the former Commonwealth
Bank building — previously purchased by the Bendigo
Bank board — with original board members, current
staff, and interested locals, gathering to celebrate this
With the closing down of many bank branches in the
regions, this success story is a testament to the
Chair of Gilgandra Financial Services, Julie Prout,
spoke about the history of Bendigo Bank in Gilgandra,
explaining that, without the steering committee and the
dedication of a handful of locals, the bank wouldn’t be
where it was today.
“Prior to 2005, a group of local residents,
concerned by the withdrawal of banking services
by the traditional banks, came together to consider ways
to guarantee the availability of financial services within
our community,” Mrs Prout said.
From there, their considerations resulted in a decision
to establish a Bendigo Bank in Gilgandra, utilising
the Community Bank model. Funds had to be raised by
way of shares, and the entering into a franchise agreement
with Bendigo Bank to operate a branch in
“The Community Bank model is based on the philosophy that a percentage of profit is returned...
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