The latest news is that a company, to be known as Braidwood and Districts Financial Services Limited, was incorporated on the August 10, 2001, to run the Community Bank. This company will enter into a franchise agreement with Bendigo Bank to operate the Community Bank.

In line with the registration of the company, a board of directors has been nominated to run the company. The members of the Steering Committee all elected to serve on the board and two new members were added to bring the total of the board to nine in number.

The full board is: Bruce Keeley Chairman, Maureen Faviell Company Secretary, John Cairns, Mark Horan, Wally McLeod, Denise McMurtrie, Owen Moorhouse, Noel Wisbey, Christine Wright.

At present the Committee is working with a solicitor and an accountant to issue a prospectus which will allow the sale of shares in the company. The issue of the prospectus signals the final hurdle in the setting up of the bank. Unless the minimum share capital is raised there will be no bank. And the sooner the share capital is raised, the sooner there will be a bank.

Of interest to many is the proposed location of the bank. No final decision has been made, and due to ongoing considerations and negotiations this can not be revealed at this point in time. Be aware, however, it is the Committee’s intention to obtain the most suitable premises for the bank. A location that best serves the interests of the whole community.

It can be revealed, however, that the opening date will now be in the New Year, probably late in February. Bendigo Bank will not fitout premises in December or January and as there is no chance that an opening can be made in November, February becomes the target date.

The Community Bank movement continues to go from strength to strength. The Committee asks that some forbearance and patience be exercised. Too much hard work has been done when we are on the cusp of a new beginning with banking services in Braidwood it will only be a few months before we see a return to full banking services and an anticipation of a new future for Braidwood.

If there are any questions at all, please contact one of the Committee.