Banking on locals

By Kath Gannaway
WARBURTON Community Bank chairman Rodney McKail spoke out last week about the place of community banks in the face of the global financial crisis.
There are four community banks (franchises of Bendigo Bank) along the Warburton Highway –Warburton, Yarra Junction, Wandin-Seville and Woori Yallock – and a bank is proposed for Healesville.
Warburton led the way in community banking in the Yarra Valley and since opening its doors a decade ago has more than 3300 customers and has returned more $900,000 back to the Upper Yarra communities.
Mr McKail welcomed a statement from Bendigo Bank managing director Rob Hunt outlining the continued progress of the community banking movement.
“As Mr Hunt notes, there have been plenty of commentators quick to dismiss the prospects for regional banks,” Mr McKail said. “But this ignores what is actually happening at grass roots level, where our customers are quite happy to support the bank that supports them and their community.”
Bendigo Bank continues to attract 11,000 new customers each month; eight new branches had opened in the past three months with five more to open soon and another 70 branch campaigns on the go.
He said funding of local projects by community banks had topped $30 million and local shareholder dividends $11 million.
Mr McKail said Mr Hunt’s comments were borne out by Warburton Community Bank and that he shared his confidence in the future.
“We continue to grow our business and the contribution we make to the community,” he said.