New public company – Daylesford District Community Developments Limited - will operate a Community Bank as a Franchisee of Bendigo and Adelaide Bank
Daylesford will have it's new Bank in in Autumn 2012.
An unlisted public Company – Daylesford District Community Developments Limited - will operate the new Community Bank as a Franchisee of Bendigo and Adelaide Bank.
The minimum subscription required of 500,000 shares in DDCDL was exceeded and more than 150 applicants for shares have now officially become shareholders in DDCDL.
Chairman Tim Blood said “We are very excited that the building refurbishment is already underway, so we expect to be open for business within this financial year.“
The maximum number of shares available in DDCDL is 600,000 are almost all taken, and once they are gone, there will be no more
Tim Blood also said “We believe the introduction of a Community Bank will significantly enhance our Community. We aim to provide much needed funds for Local Causes and Community Development whilst setting a new standard in Banking Service and providing an appropriate return to Shareholders”
Bendigo Bank, in support of the future Daylesford Community Bank, has already donated significant funds to the Local CFA and for the Railway refurbishment project after the fires in 2009, as well as sponsoring the Daylesford Community Brass Band and 2011 New Year's Eve Parade.
Sponsorship Director Sue Ewart is looking forward to being able to assist the many great causes in Daylesford Hepburn Springs.
DDCDL aims to contribute at least $500,000 to the Community in its first 10 years and aspires to contribute well over $1 Million just as Maldon has done.
The Bank will be located at 97 Vincent Street opposite the Post Office and will no doubt increase the activity at that end of town.