ONE STEP AWAY

18 February 2010

NATALIE MCGREGOR

THE Grampians Community Bank is one step away from opening its doors.

The bank, which incorporates Dunkeld, Penshurst and Cavendish, launched its prospectus at the Dunkeld Bowling Club on Tuesday night.

It has been hailed a success with a total of $250,000 raised on the night.

Community bank vice-chair Craig Oliver said the night was well supported by all local communities.

“There was over 100 people; the room was full,” he said. “It’s a fantastic start seeing as the prospectus has only been out not quite a week.”

Mr Oliver said there was terrific representation from across the shire with a bus load of Penshurst residents and a good number from Cavendish attending.

He said there was also a good mix of age groups and occupations.

The community bank will now encourage those who have pledged and haven’t filled out a prospectus, to do so as soon as possible.

Before the meeting more than $630,000 was made in pledges. A minimum capital-raising target of $500,000 needs to be reached before the end of March so building of the bank can begin.

“We’d like to get our minimum capital raised by the end of March and last night exceeded our expectations,” Mr Oliver said.

A number of community projects have already benefited from the Grampians bank.

“The community bank board has given $5500 to the Dunkeld, Penshurst and Cavendish communities for various projects,” he said.

“There are tangible benefits before we’ve even got the bank up and running.”

Guest speaker Max Papley of the Lang Lang Community Bank talked on the benefits of a bank, 12 years on.

Bank chair Gary Simpson said the independence of a community bank meant it would eventually fund its own community projects.

He said people were able to visualise the power of a community bank.

“We won’t have to rely on just local, state and federal governments, communities can do things for themselves,” he said.

“But we’re not taking the foot off the pedal yet; we have to get the bank actually built.”

Mr Simpson said draft plans of the building had been circulated at the meeting.

“We’re in a very strong position. We’re well on the way to being profitable and that will come in three to five years. We’ve been at it for two years now and look how far we’ve come.”

Representatives from each town had a ticket in a draw and had been able to designate $500 to a community project of their choice.

Kerry Jones of Dunkeld donated the money to the Dunkeld Hall project, Don Price of Cavendish gave the cash to the Cavendish Streetscape and Judy Brennan of Penshurst took home $500 for the Penshurst P and A Society.