The Montrose Community Bank(R) Project
Date of the Prospectus Launched announced
Montrose, Tuesday 2 March 2010: The Montrose Community Bank® Steering Committee are pleased to announce that following a most successful pledge campaign the next step in their journey to establish a Community Bank® in Montrose will take place on Wednesday 21 April 2010.
The launch of the Company's Prospectus will take place at the new Montrose Recreation Reserve Pavillion, starting at 7pm. The Prospectus is the legal vehicle for you to buy shares in your bank.
For more information visit the Prospectus Launch Page.
Montrose Community Bank® pledge campaign launched
Montrose, Monday 23 February 2009: The people of Montrose are invited to pledge their support for the establishment of the Montrose Community Bank® Branch of Bendigo Bank.
On Saturday 21 February, a group of committed residents who have formed the Montrose Community Bank® Steering Committee, officially launched the community's pledge campaign - the first stage in a process to gauge community interest in the concept.
Steering Committee Chairman Gareth Little-Hales urged people interested in the Community Bank® concept to get behind the campaign and collect a pledge form. You can download a Pledge Form and Information Sheet here.
"We have experienced overwhelming support on our first weekend of campaigning from all areas of the community. Many local residents and businesses have already filled out their pledge forms, giving us a strong indication of early support for the project," Mr Little-Hales said.
"I believe that residents, traders and business people alike will rally behind the campaign to bring face to face banking to Montrose and I urge you to fill out a pledge form and return it to the Steering Group as soon as possible."
A pledge of support is an indication of the number of people who would be prepared to become a shareholder in their Community Bank® branch, and an indication of the financial level of support.
"Their pledge of support will indicate that intention." Mr Little-Hales said.
A minimum pledge target of $700,000 from more than 300 people has been set for the Montrose campaign.
There are over 235 communities around Australia with their own Community Bank® branch, with some returning over $30,000 per month to their community. The most successful Community Bank® branches throughout Australia have collected pledges of support from between 400 and 600 locals, with these people going on to become shareholders in the local company.
Under Bendigo Bank's Community Bank® model, once the pledge and feasibility processes have been completed, the community raises share capital via a public share offer. Those residents and traders that have completed pledge forms will have the first opportunity to purchase shares before other members of the community.
For more information about the pledge campaign contact Gareth Little-Hales on 0423 203 992 or email gareth.little-hales@montrose.vic.au
Completed pledge forms can be returned to
Montrose Meats,
York Hairdressing,
Montrose Pharmacy,
Montrose Financial Services
Montrose Post Office
Mont Rose Maison
Handorf's Fine Chocolates and
The Soda Tree
or one of the many collection points around Montrose and Kalorama.
Alternatively you can post it to Montrose Community Bank® Steering Committee, PO Box 4, Montrose VIC 3765.
Pledges Received to 7 March 2010
1,000,000
950,000
900,000
850,000
842,000
800,000
750,000
700,000
650,000
600,000
550,000
500,000
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000