WE STARTED WITH A SIMPLE IDEA.
WE STARTED WITH A SIMPLE IDEA.
We care about our local community and it is the reason why the Knox Community Bank Group came into being. In March 2000, the Commonwealth Bank closed its doors in Ferntree Gully Village. It was this event that galvanised us and a group of community minded individuals formed. This group consisted of Community and Business leaders who then formed a steering committee that went on to establish the Ferntree Gully Community Bank Branch. This Branch is the cornerstone of the Ferntree Gully Village and is a thriving business to this day.
The steering committee initially called a public meeting which was attended by over 400 people who in turn pledged in excess of $600,000 in funding for the proposed Ferntree Gully Community Bank Branch. The steering committee also conducted surveys of local businesses and residents which confirmed their support for a truly local Community Bank Branch to be established in Ferntree Gully.
With $530,000 in share capital subscribed by over 450 shareholders, Bendigo Bank granted a franchise and Ferntree Gully Community Bank Branch which opened for business on 25th November 2000 and moved into its refurbished premises at 81 Station St. Ferntree Gully on 21st December 2000 with strong community and business support.
The whole process was achieved in near-record time and reflects the support from the local community. It also reflects the desire of so many local residents to have input into the shape of their community.
By 2005 the Ferntree Gully Community Bank Branch had outgrown it’s premises at 81 Station Street and the business bought the Post Office licence and premises at 67 Station Street. There was the chance the Post Office was going to be lost to the Gully as the owners wanted to relocate to a Burwood Highway location hence the decision was made to negotiate the purchase of the licence and premises of the Post Office.
On the 27th April 2006, the bank grew, opening the Rowville Community Bank Branch which now services the ever-growing Knox region. The Rowville Community Bank Branch was originally located in Wellington Village on Wellington Road. This Branch has also received strong community and business support and subsequently moved to new premises in August 2015. The Rowville Community Bank Branch is now located at Shop G7, The Corner, Wellington Road, Rowville.
With continued community support, we can keep growing and giving back to the community. Approximately $2,600,000 has been returned to the local Knox community in the last 15 years in the form of community grants & community partner support.
The Community Bank concept is a franchise provided by Bendigo Bank. The community, through its community company owns the right to establish a Bendigo Bank Branch which is operated entirely by Bendigo Bank. Community Bank Branches provide communities with an opportunity through their own community companies to enhance control over the capital of their community, and with the profits made, ensure more money stays inthe district for local investment, sponsorship and grant programs.
The Community Bank Branch model enables stakeholders to play an active role in enhancing the long term prospects of their district and in fact to have a say in the manner in which profits are distributed back to their communities. The Community Branches also provide communities with the certainty of banking services enabling customers to bank in the way they want, whether that be face to face with a manager at each Branch, electronically or over the phone.
Your Branches in Ferntree Gully and Rowville offer a full array of banking services as well as providing friendly professional service to all our customers. After 15 years, the community company which you started continues to contribute to securing a prosperous future for your communities.
This is the message that led to the successful launch of the Ferntree Gully Community Bank Branch in 2000. It all begins with YOU. You the shareholders, who put your money into setting up a Community Bank. You the traders and residents who use the bank’s services. Your contributions keep funds flowing into the many local organisations who benefit from annual community grants. Into increased local trade as bank customers avail themselves of other goods and services in the village. It all adds up to a prosperous township, local employment and strong social capital. To date, the Ferntree Gully and Rowville Community Bank Branches have contributed and pledged a total over $2.6 million in local grants and sponsorships.
The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.
Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).