Bank branch reaches $30M milestone

Ettalong Beach Community Bank Branch has reached a major financial milestone, according Ettalong Beach Community Bank Chairman Mr David Steele.

Mr Steele said the locally-owned bank branch has "more than $30 million in banking business on its books", calling it not only a major achievement for the bank branch but the community as a whole.

Mr Steele said the milestone was significant for the branch.

"The community has certainly thrown its support behind our Community Bank branch," Mr Steele said.

"Not only have the people of our district supported us as shareholders but they are also continuing to transfer their banking business across.

"Our branch is based on a banking model which is drastically different from the traditional financial branch concept, but one in which the community hasn't been afraid to place its trust.

"Reaching $30 million in banking business is an exciting milestone for our bank branch and one which indicates just how important it is to maintain banking services in our community.

"People need these services.

"They need them in their community and they are willing to support them."

Mr Steele said that the branch also had more than 2200 accounts and continued to open 60 new accounts every month.

As an additional community service, the local bank branch has allocated more than $2000 in sponsorship and donations to local schools and community organisations and projects.

"Our branch can offer everything that you need in terms of personal and business banking products and services and I urge people to call in or phone the branch to find out exactly how the bank can assist.

"Our first goal was always to open a traditional bank branch and now that we've done that, we need to focus on encouraging as many people as possible to bank with us to further grow the business and put back into our community."

Press release, 11 Sep 2007 Debra Wales