Bank feasibility study expected soon

A feasibility study for a proposed community bank at Ettalong is expected to start in about a month's time.

Committee coordinator for the bank, Cr Debra Wales, said that, although the Bendigo Bank's requirement of $550,000 in pledges had been met, "more pledges are needed."

Cr Wales said that although pledge numbers were still below the bank's target of 300, "additional pledges have been made since the information day" on June 27.

"Bendigo Bank sees pledge numbers as an indicator of community support," she said.

Ms Wales said that the absence of a major bank at Ettalong stood in contrast to the mid-90s when four major banks had branches there.

It was not just a question of banking convenience but also one of business activity decline, she said.

"Shoppers have said that it's gone very quiet."

Cr Wales said that the elderly in particular appreciated face-to-face banking.

"Although such banking is available through the Commonwealth at the post office, the security normally found in banks isn't available."

Con Orfanos, July 9