If the target is not met before Christmas, the nett result will be that instead of opening early in 2002 there will be a delay of about two months to the project. This will mean an opening more likely around mid-May. We have been told that most people will wait to the end of the period to purchase their shares. The problem that this will create is a significant increase in workload in registering every share purchase in the last week or two. Please return your applications as soon as possible.

The delay in raising the share capital will also impact on our building plans. Although the developer has agreed to commence the building before the share capital is raised; the committee does not believe it would be wise to do so without being close to our target.

The likelihood of building works commencing before Christmas becomes more remote everyday. If the share capital is not above $300,000 before the target date, plans will have to be shelved until the New Year.

The Committee would remind you of the benefits that Community Banking and the return of full banking services to Braidwood will bring. The raising of pledges earlier in the year, and the feasibility study demonstrated the support in Braidwood for a Community Bank.

The study results showed Braidwood to have as much, and in some cases more, banking support than any other site in country NSW and Victoria. There is no reason why we should not have a very successful bank of our own. We just have to get behind it and support it.

On a brighter note, Bendigo Bank is planning on opening its own branch in Canberra early in December.

The Committee urges you to act now, and if you are unsure of anything please contact one of the Board members, who will be able to assist with any questions you may have.