Who we are
How we started
On 24 April 1999, Maldon & District Community Bank Branch opened its doors to a whole new concept in banking services. A few years earlier, the last of the big banks left town to the detriment of the local economy. A local committee was established to address this important issue.
Working with Bendigo Bank Community Bank, local funds were raised to set up an office, employ staff and provide operating funds until the business became profitable.
Members of the community own the business and appoint a Board of Directors to oversee the management. Bendigo Bank Community Bank supplies and operates the banking systems. Income is shared and our profits are returned to the community in the form of grants and sponsorships.
Since 1999 our Community Bank has distributed more than $3.6 million dollars throughout our region to many groups, organisations and associations and providing employment and services across three townships. This banking concept has had an incredible impact on our community.
We all have to interact with a bank. We all have to pay interest, fees and charges. It makes sense to bank with a bank that thoroughly supports our community – our Maldon & District Community Bank Branch.
We support an inclusive, fun and thriving community
We are different because we:
- Are locally owned and operated by the community for the community
- Return profits to make their communities more vibrant and sustainable places to live
- Are local business at its best, keeping money in local economies and employing local people
- Offer the full range of competitive products and services
Community banking is one of the most effective and major ways to get things done in our community. Why? Community Banking is based on a ‘profit-with-purpose’ model, which means our profits are returned directly to the local community that generated them.
We call this ‘shared value’. This is the foundation of our Community Bank model. We are owned by members who are from our community or connected to our community in some way.
That’s where the money comes from and that’s how we’ve been able to put more than $3.6 million back into the community.