Bank could open in November

An Ettalong branch of the Bendigo Bank could be open as early as November if all goes to plan.

The directors of the new bank met with representatives of the Bendigo Bank on Tuesday, August 3, according to Mainstreet Coordinator Ms Debra Wales.

She said the bank was set to move into the current site of Ettalong Hotel, with the hotel development across the road about to be completed.

The premises on the corner of Ocean View and Pacific Ave previously housed a bank.

"We've got directors and have formed a company.

"We're in the due diligence period," Ms Wales said.

"We're going through the legalities at the moment.

"Our goal is November 1.

"But it could be mid-November as the prospectus is taking longer than we thought.

"Our goal is for the prospectus to be launched early September.

"It is taking longer than anticipated because we had to secure a site before the prospectus is signed off by Bendigo's legal team and then it is lodged with ASIC.

"If that doesn't happen then it could be February as we wouldn't open over the holidays but we are doing everything possible to open by the November date."

Committee chairman Mr David Steele said the committee was working diligently with Bendigo Bank.

"Our campaign may appear to have gone quiet but rest assured we are working hard at ensuring Ettalong Beach community bank branch opens in 2004," Mr Steele said.

"My message to the community is to get ready to transfer those pledges of support into a public shareholding and become a part of our very own Bendigo Community Bank"

"Although our aim is to have as many local people as possible to become shareholders, there will be a limited number of shares available," Mr Steele said.

"If you haven't already, please commit your support to the campaign by filling in a pledge form which will indicate your interest in becoming a shareholder when the offer is released in the coming weeks.

Pledge forms and further information about the campaign is available from the Ettalong Beach Post Office or by telephoning Debra Wales on 4342 7510 and a package will be mailed out.

"We have been delighted by the show of support from all sectors of our community," Mr Steele said.

Alison Branley, August 5