Bank breaks $1million barrier

By Lachlan Ellis

A local bank has marked an incredible milestone, reaching a tally of $1 million reinvested into local community groups and projects.
The Bacchus Marsh Community Bank Branch was established almost eight years ago, in October 2014. The Branch reached its $1 million milestone in July, after providing a $2,000 grant to a new community group, the Parwan Adult Riding Club, for start-up costs.
Community Bank Chair, Claire Sutherland, said the Branch had always been committed to backing the Bacchus Marsh community, and the groups that make Bacchus Marsh a fantastic place to live.
“Reaching the $1 million mark is such a fantastic achievement for a community enterprise that many perceived as a far-off dream 10 years ago. But we have taken this dream for a locally-owned and operated bank and turned it into a reality, financially supporting more than 100 community initiatives in the process,” Ms Sutherland said.
“Thanks to the support of our shareholders, branch staff, company board and customers, we have been able to grow to be one of the biggest sources of community funding in Bacchus Marsh.”
Branch Manager Ian Prince said it was a proud moment for him, and everyone involved with the Community Bank Branch.
“From the outset, this was the reason I joined the Community Bank, to give money back out to the community. The success of the bank is far greater than what I was expecting in that timeframe, so it’s really rewarding to see that money used towards the community,” Mr Prince told the Moorabool News.
“The whole aim of the bank is to improve the town and make it a better place to live in.”
While three of the big four banks – Westpac, ANZ, and NAB have all closed their branches in Bacchus Marsh in recent years, Mr Prince said the Community Bank was staying put – and in fact has plans for expansion.
“We’re actually in the process of setting up a new lending suite next door to the Branch, that’ll be open within the next month to six weeks at the latest. The other banks closing has increased our foot traffic, which has increased the number of staff we’ve had to employ,” he said.
“There’s been five new staff members employed here just in the last 12 months. So that reflects that we aren’t going anywhere soon.”
Recent community groups, projects, and events benefiting from Community Bank funding include the Bacchus Marsh Men’s Shed (new shirts and a storage container), Young Street Kinder (new fort), the Bacchus Marsh Historical Society (digitisation of the Express newspaper), and all sporting clubs in the area, who receive ongoing sponsorship and grants for various projects.
Ms Sutherland says she hopes the $1 million milestone is just the first of many to come for the Bacchus Marsh Community Bank Branch.
“With the support of the Bacchus Marsh community we can continue to grow, our business and, most importantly, our community,” she said.