We are a locally owned. That’s right. Our Community Bank is run by a local company called Maldon & District Financial Services Limited (MDFSL). Its members put in money to help start it in 1999. We have 170 members, most of whom live in and around Maldon, Newstead, Dunolly and Castlemaine.
What’s significant about being locally owned?
This means, that after we pay our costs of operating our business, including staff wages and franchise costs to Bendigo Bank for supplied banking services, all our profits are invested back into our communities through partnerships and grants.
Who gets our profits?
Community groups, clubs, organisations and events who apply for funds by completing an application form. Not all applicants are funded. This is where it gets challenging. Sorting who and what to fund when demand is so big. Maldon & District Community Bank Branch receives requests for $150,000-$200,000 annually. Generally, we distribute $70,000 to $200,000 annually. If you bank with us, it will help us invest more.
Some things Maldon & District Community Bank Branches have funded in the past
Events like Maldon Folk Festival, Dunolly Gilbert & Sullivan Festival, Newstead Short Story Tattoo, Castlemaine Children’s Literature Festival. Sporting clubs like Maldon, Newstead Dunolly and Castlemaine footy & netball, petanque, golf and bowls clubs, local schools and pre-schools, childcare, Landcare groups, historical societies, museums, exercise programs, men’s sheds and driver training for learner drivers.
What region does Maldon & District Community Bank Branch invest in?
The big circle from Maldon to Newstead and Dunolly and including Eddington, Baringhup and Guildford, Castlemaine and Harcourt. This takes in Eddington, Campbells Creek, Taradale, Bealiba, Guildford, Moliagul, Tarnagulla, Chewton, Lockwood South, Laanecoorie and the areas in between.
How we help the community
We help the community by providing:
- Funding for things that matter to the community – for community fundraisers, events, sporting groups, arts and festivals, emergency services, schools and preschools
- Advice for community groups and activities
- Support for bigger community projects
We help with bigger projects such as the Mount Alexander Shire respite house (MASARG), community buses in Baringhup-Maldon, Newstead and Dunolly, new clubrooms and facilities at the Newstead Recreation Reserve and funding to get men’s sheds built, and upgrades to school and preschool facilities.