• Home
  • Articles
    • Front Page
    • General Interest
    • Letters to the Editor
    • Snippets
  • Competitions
  • Our Community
    • Our People
    • Question of the Week
    • Be Seen
    • Jobs in The Central West
  • Features
    • Rural Round Up
    • Health & Wellness
    • Loving Local Living
    • My Place
    • Real Estate
  • Sports
    • Canowindra Bowls Club
    • Canowindra Junior Rugby League
    • Canowindra Senior Rugby League
    • Cricket
    • Footy Tipping Competition
    • Golf
    • Rugby Union
    • Swimming Club
    • Touch Football Results
    • Tennis
    • Other
  • Contact Us
    • Contact Page
    • Advertise with Us
    • Testimonials
    • Subscribe to the Phoenix
    • Submit an Article

The Canowindra Phoenix

Your free weekly guide to what's happening in and around Canowindra.

You are here: Home / Articles / Community Bank Project Draws To A Regretful Close

Community Bank Project Draws To A Regretful Close

4 February, 2015 By editor

Some of the Committee members with Sue Corcoran of Bendigo Bank at a 2014 event
At the meeting of the Steering Committee of the Community Bank Project last month it was decided unanimously not to proceed, as it’s become clear that they will be unable to meet the revised requirements of the Bendigo Bank.
The Committee has been seeking pledges of capital into the venture and to date around $700,000 has been pledged by the Canowindra community.
The initial plan was to secure total pledges of $750,000 and then conduct an independent feasibility study to determine the business potential of a branch of the Community Bank in Canowindra. At the same time, the Committee was expected to encourage locals to begin doing business with the Bendigo Bank through the Orange Branch in order to achieve certain targets.
In view of the time taken to reach our original targets, the Managing Director of Bendigo Bank, Mike Hurst, has now set higher targets for our community to achieve before Bendigo would consider forming a full branch of the Community Bank in Canowindra.
Cheryl Newsom, Chairperson of the Steering Committee comprising of Herb Gardiner, David Harrison, Eugene Marais, Ray Melhuish, Billy Paul, Michael Payten, Richard Statham, and others, has expressed her disappointment at these latest revisions, “having put 12 months of solid work in asking the community to commit to pledges to fund the capital required to establish a local branch, we’re now presented with a revised set of targets.” They concluded that it would be very difficult to expect Canowindra locals to transfer their business to the Bendigo Bank in Orange without any real assurance that they would, in the future, be able to bank locally with the community Bank. “If Bendigo Bank were prepared to give a firm undertaking in writing with defined targets then this would be something we would consider” Cheryl added. Cheryl Newsom went on to thank all the committee members as well as the community for actively supporting the project with their generous pledges. The Committee will be writing to everyone in the community who made pledges to thank them and explain the decision.

 

Filed Under: Articles, Front Page

More News

Bringing The Blues To The Belubula

15 April, 2021 By editor

Though the banks of the Belubula are a far cry from the bayous of the Deep South, Canowindra will … [Read More...]

Reserve Your Spot For ANZAC Day

15 April, 2021 By editor

The Canowindra RSL Sub-Branch advises that locals wanting to attend the ANZAC Day Service at … [Read More...]

Our Little Bloke – Beau Wheeldon

15 April, 2021 By editor

How old are you? 10 How long have you lived in or around Canowindra? My whole life. What do … [Read More...]

More articles in this section

  • Following In His Father’s Footsteps
  • The Canowindra Star’s One-Man Show
  • Balloons Return To Canowindra

More Food & Wine

ANZAC Treat

23 April, 2020 By editor

Caramel ANZAC Slice SLICE • 2 Cups Plain Flour • 2 Cups Brown Sugar • 2 Cups Rolled Oats • 1 … [Read More...]

Enjoy a Cold Christmas Pudding!

16 December, 2015 By editor

Ingredients 2.25 litre vanilla ice cream 2 x 125 punnets of pistachio kernels 1 teaspoon … [Read More...]

The Bite…Coffee Culture

8 July, 2015 By editor

It is a fair generalisation that Australians are culturally obsessed with their coffee. Across the … [Read More...]

More articles in this section

  • The Bite…Winter Warmers
  • In The Vines…Philip Shaw’s New Cellar Door
  • The Bite…Orange Cafe Culture

More Sport

Following In His Father’s Footsteps

15 April, 2021 By editor

When Beau Wheeldon competed in the State Little Athletics, he was literally running in his father’s footsteps. He won the under 10s 100 metre sprint, some 35 years after his dad, Marc Wheeldon, earned the same place in the same race. “It is very special to share it,” said Marc. “It was really cool to […]

Latest Print Edition

Click here to download the recent issue (629) of The Canowindra Phoenix (2.9mb PDF) 15th April 2021

AWARDED 2018 BEST BUSINESS IN CABONNE

Stay Connected

The Canowindra Phoenix would like to thank you, our Facebook friends, for your continued support and readership!

likeusonfacebook

Canowindra Booklet

Click here to download the 2018 Canowindra Booklet – Explore “The Place You Call Home” Like a Local

Central West Rural Round Up Booklet

Click here to download the Central West Rural Round Up Booklet

Search the Phoenix

Recent Articles

  • Got Bins? 15 April, 2021
  • Bringing The Blues To The Belubula 15 April, 2021
  • Our Little Bloke – Beau Wheeldon 15 April, 2021

Contact the Phoenix

Street Address: 84 Gaskill Street Canowindra NSW 2804 Postal Address: PO Box 203 Canowindra NSW 2804 Phone: (02) 6344 1846 Email: editor@canowindraphoenix.com.au or sales@canowindraphoenix.com.au View our Privacy Policy. View our Conflict Resolution Process. View our Ethics and Complaints Policy. Want to advertise with us? Information on our Community Promotions.

Submit an Article

We are always looking for new articles of interest to the local community.

Please feel free to submit an article for possible inclusion in a future issue.

To submit an article, click here to use our online article submission form.

Receive The Phoenix via Email

* indicates required

Copyright © 2021 · Website setup and support: CompleteWPCare