The Blaxland Chamber of Commerce is charging ahead with plans to bring the Bendigo Bank to Blaxland, with a community meeting to be held in June.
Chamber president Jo Bromilow has encouraged people to support the proposal, which will only get off the ground if it has the backing of the community.
The chamber has been in negotiation with the Bendigo Bank to attract it to the Lower Mountains, since the Commonwealth Bank’s announcement in April to close its Blaxland branch in May.
The Katoomba branch of the Bendigo Bank has offered their assistance in setting up a branch in Blaxland.
Bendigo Bank Katoomba branch chairman Robert Stock said: “I’m excited by the prospect of another community bank in the Mountains, but more to the point, enthusiastic to see the difference it will make to community organisations in the Lower Mountains when it comes to accessing grant funding for community projects.”
Since opening almost nine years ago, $450,000 in the Katoomba branch’s profits has gone into supporting community projects.
Ms Bromilow took Bendigo Bank representatives on a tour of Blaxland last week, gauging interest in the proposal among Blaxland businesses and scouting out possible sites.
“Banks today don’t really require the size and configuration of the existing Commonwealth Bank which is not to say that the existing bank couldn’t be altered or an alternative found,” Mr Stock said.
Ms Bromilow said business owners were keen for a bank close by, but setting up a branch required widespread community support.
“The steering committee will have to raise $800,000 to a million using around 200 – 250 members as shareholders,” she said.
“No member can own more than 10 per cent of shares and all have equal voting rights regardless of share allocation.”
A steering committee consisting of representatives from the area has been formed to develop an initial proposition and manage the development.
Ms Bromilow has encouraged the community to come along to the chamber’s breakfast meeting at 7.15am on June 27 at the Lapstone Hotel where representatives from the Bendigo Bank will explain the process of setting up a branch in Blaxland. Bookings, payment at: info@blaxlandchamber.com.au.