12 December, 2022
New team, as bank celebrates 16-years
It is somewhat ironic that last week, a big-four bank closed permanently in Gilgandra, while another, community-run entity continues to grow.
The Commonwealth Bank’s physical local branch
shut on December 2, 2022 - the latest in big bank closures
in regional Australia over the past few years.
Meanwhile, the now only physical branded bank
presence, Gilgandra and District Community Bank,
Bendigo Bank branch celebrated 16-years of operation.
The ‘winds of change’ continue to impact the
staffing at Gilgandra Community Bank branch, where
long-time local, Morgan Adams, has accepted an
appointment as ‘branch operations manager’.
She heads up an all-female team, ably assisted by
Kate McClelland, Kirsty Zell, and newest recruit Heidy
Schink, who commenced duty last week.
Community Bank board chair, Julie Prout, acknowledged
the foresight of the original steering committee
which comprised of Don Kennaugh, Doug Clouten,
Walter Prout, Arthur Noonan, Sally Foran, Lara Zell,
Lorraine Hutchison, John Campbell, David Sawley,
Max Zell OAM and the late John Miller OAM.
She said these people recognised the advantages of
the ‘Community Bank’ concept and the partnership with
the Bendigo and Adelaide Bank, which returns 50 per
cent of the locally-managed franchise profits to the
The Gilgandra Community Bank branch opened at
the height of the millennium drought, and suffered the
impacts of the 2009 Miller Street fire and the recent horrendous
drought of 2016 to 2018.
Gilgandra Financial Services Ltd, the operating entity
of the bank has, since its inception, donated in excess
of $600,000 to local charities and service organisations.
At its annual general meeting conducted in October this
year; the board announced the payment of a further five
cent per share unfranked dividend in January 2023,
bringing a total of four dividends paid over the last five
Gilgandra Financial Services Ltd is an Australian
Stock Exchange listed company which is governed by a
board of 11 volunteers with Julie Prout as chair, Sandra
Lawford as secretary and Dubbo-based accountant,
Laura Gilmour as treasurer.
Supporting the staff at Gilgandra, the company also operates an agency at Cowra with mobile lending staff based in Orange and Narromine.