Bungendore
and Region
INFORMATION |
Palerang
Financial Services Pty Ltd recently celebrated gaining $100 million
in accounts under management by sponsoring the Bungendore Netball
Club and the Braidwood Pre School.
Each group received $300 and $1,000
respectively. Although
passing the $100 million milestone is significant, it is just the tip
of the iceberg in community sponsorship that could be realised if the
Palerang community totally supported their Community Banks.
The vast majority of these current funds under management are held
in the Braidwood Community Bank branch. In recognition of this support
the Braidwood community receives sponsorship funding in proportion
to the support it gives its Community Bank. Last year the Braidwood
MPS alone received a sponsorship cheque for $20,000. Community sponsorship
funds are only made available from banking business and as yet Community
Banking is only a tiny percentage of the banking business in Palerang.
The vast majority of individuals and businesses in the Palerang Shire
put their finances with other institutions.
The Bungendore community has yet to show its overall support for their
Community Bank, which, if fully realised, could provide the community
with hundreds of thousands of dollars in sponsorship funding every
year. The existence of the Community Bank itself is not enough. community
participation at all levels is needed to create a mechanism that provides
significant levels of funding that is put back into the community.
Many community members say they shop local to support local businesses.
But do they bank local?
The Braidwood and Bungendore Community Bank Board regularly receives
applications for sponsorship from across the shire. As the Bungendore
branch will turn two on July 1 the Board recognises that it is now
time that the Bungendore community show their support for their branch.
As the profits for each branch can be specifically identified, the
Board will now begin to allocate sponsorship between the two communities
in direct proportion to the profits generated by each branch. Board
members are aware of at least two major projects in the planning phase
for Bungendore but if significant funds are sought from the Bungendore
branch then they will only be available if significant levels of accounts
are held under management at that branch.
If the Bungendore community wish to enjoy sponsorship funding at and
beyond the level currently enjoyed by the Braidwood community then
it is time to call into the Bungendore branch and talk to one of the
staff about what banking services you can use. If you are already
a customer of either the Braidwood or Bungendore Community Banks then
the Board encourages you to join them in spreading the word about the
benefits to the community from Community Banking. |
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Page updated:
18 July, 2008
2004-2008 Bungendore and Region Information |