Originally written by Spectator-Observer Partnership
THE establishment of a community bank in Coleraine is well on the way with about half the necessary pledges needed, in hand.
Coleraine and District Development Association chairman and Community bank steering committee chairman, Kevin Buck, said 180 people had pledged about $207,000 in just on two months, which was a fantastic effort.
For the Bendigo Bank to look at doing a feasibility study into establishing a community bank in Coleraine, pledges totalling more than $350,000 are needed.
Mr Buck said Edenhope had just reached its target and it had been going since October last year.
“We need another $170,000 that would be the icing on the cake,” Mr Buck said.
The community bank became an option for Coleraine residents when the Commonwealth Bank closed its branch in the town in October last year.
This had left a National Bank agency to operate three days a week and was considered unsatisfactory by town and district people.
A public meeting on the possibility of a community bank had been held in June and keen interest was shown in the project.
To have raised so many pledges in such a short time was a big effort but more were needed, Mr Buck said.
These could be from anyone in town or in the smaller outlying districts who was interested in being involved in a banking facility for the community.
Pledges are available from and can be handed in at the Coleraine newsagency.