Feasibility study
The feasibility study by an independent consultant indicated that the proposed Lindfield Community Bank® Branch would be viable and the company has now committed to opening the Branch in October 2011. Premises have been secured at 318 Pacific Highway, Lindfield and staff are available from 9 am to 5 pm Monday to Friday to assist with your non-cash banking business.
What is an ‘indicative Pledge of support’?
A Community Bank® is established by a local committee which promotes the concept at the local level and seeks Pledges of support.
An indicative Pledge of support is simply an indication that you would be prepared to invest in shares in your local Community Company. You can pledge any amount between $500 and $5000.
You are not required to contribute any money at this Pledge stage. Pledges are simply used to gauge the level of community support for the project.
Download Pledge form
What happens next?
A Prospectus for the purchase of shares will be issued to raise local capital. The Community Company will then enter into a franchise with Bendigo Bank for the right to run a banking branch, and it will secure and fit out premises.
Ku-ring-gai Financial Services Limited, a Community Company which operates the Turramurra Community Bank® Branch, is working with the Lindfield community on the Lindfield Community Bank® project and the Prospectus would invite supporters to purchase shares in Ku-ring-gai Financial Services Limited. Click here for more information about Ku-ring-gai Financial Services Limited and the Turramurra Community Bank®.
The Community Bank® model
