$1.1 million reasons Toora Community Bank® has prospered for 20 years

$1.1 million reasons Toora Community Bank® has prospered for 20 years

TOORA & District Community Bank® celebrated 20 years since opening its doors on  January 29, 1999 with a Morning Tea held last week at the Branch.

The morning tea was well attended with Keith MacQueen (State Community Manager Regional Vic & Tas), Shannon Egan (Regional Community Manager) and Louise Gavros (Risk & Compliance Manager) from Bendigo Bank in attendance as well as members of local Community Bank® Team, Board and local Community including Ray Argento from the South Gippsland Shire and Danny O’Brien MP. 

Chair Llew Vale said the locally-owned and operated branch had grown from strength to strength since it was established in 1999.

“Twenty years ago, we were able to open our branch thanks to the commitment and drive from our local community. It’s that commitment to the town that has enabled us to be as successful as we are today, Many people have contributed to this success including our dedicated staff and many Directors including the five foundation Directors who are still serving today” Llew said.

“As our profitability grows, so too does our ability to provide an important source of sustainable revenue for communities to help fund projects and initiatives that strengthen the town,” he added.

Since opening the doors in 1999, the Toora & District Community Bank® Branch has distributed over $1,111,895 to the local community, including $65,731 in the past financial year. 

In addition to being an important source of revenue, Community Bank® enterprises provide local people with award-winning banking services, and employment opportunities.

Community Bank® Projects

Every product or service offered by the Toora & Foster Community Bank® Branch returns money back to the community. 

These funds are distributed by volunteer representatives from the community to support local projects and initiatives. 

With over a million dollars having been reinvested into the local community since we started in 1999, here are just a few of the areas we have supported.

• Football Netball Clubs, Soccer, Recreation Reserves $111,547

• Bowls Clubs $48,259

• Schools, Kindergartens, Childcare $70,288

• Aged Care $60,000

• University/TAFE Scholarships $70,000

“These are just a drop in the ocean of clubs, organisations and programs that we have supported over the past 20 years.” 

“It is one of the biggest advantages of having a Community Bank® in our area – local people, local decisions, and the local community benefits!” Llew said.

“Having achieved re-investing over $1million  back into our community, we are very excited about reaching the second million – as all our overheads are taken care of we should reach this next milestone much quicker!!” he said.

This means that, as a customer, you not only benefit from a competitive range of products and great service from local staff, but your banking can make a huge difference to our local Community!