The share sales offer for the Community Bank officially closed last Friday, however, the result was sufficiently promising for the Board to agree to extend the offer.

The total on Friday had reached $332,500, an increase during the week of $59,000 over the previous week. The Board therefore decided to extend the initial offer, in the first instance, until January 31 2002.

The total was short by $78,000, however, there still remains $60,000-$70,000 in outstanding pledges. We expect to receive most of this amount. We will be looking to increase the number of subscribers to raise the extra needed. Despite the shortfall, this amount, achieved in only seven weeks is quite remarkable.

To give some context to the total and the shortfall so far achieved, from the pledges taken we are up by $5000. We have also received $25,000 in sales from 26 people who never pledged. This total of $30,000 is offset by people who have already indicated that they can’t purchase shares, or have had to reduce their original pledge amounts.

I would like to say to keep an eye on the sign on the block. Unfortunately it was vandalised on Friday night sometime, and is now in for repairs. We intend on having it back up as soon as possible and I would hope that those who vandalised it gained some pleasure from their actions. It would be disappointing to think that an action like this should occur without some measure of satisfaction being had.

Once again we hope this next week is a big week for the return of share applications. We also ask for those who have applied for their shares to keep at your friends if they have not done so. Don’t leave it until the end of January to get your applications in, as the sooner we reach our target the sooner we get started. We encourage everyone to participate in this great community project.

This is the last report on the Community Bank progress for this year, as this is the last paper before the New Year. By the time the next paper is out, hopefully we should be much closer to our target, and our building plans should be finalised. If you need assistance, or if you need a new prospectus, or if you never received one, please contact one of the Board members, who will be able to assist with any questions you may have.

The Board would like to wish all our supporters, and the Braidwood community, a merry Christmas and a happy New Year.