The Buderim Community Bank®

Invest now and make a difference for your future!

The people of buderim have put forward over $600,000 to take up shares in the Buderim Community Bank® 

When a further $150,000 is raised, this new enterprise will become a reality and bring great benefits to the community

What is a Community Bank® and why have one in Buderim?

The difference really is that 100% of our community bank® profits will be returned to the Buderim community via dividends, community grants and sponsorships.

The project began with a group of residents entering into discussions with Bendigo Bank to establish the Buderim Community Bank® through a franchise agreement. The shareholding is limited to residents or those with associations to the 4556 post code.

There are 243 Community Bank® branches Australia wide which have paid $10.7 million dividends to shareholders since the network was established in the 90’s.

Importantly, at the same time, $36.8 million in donations to local groups and projects have been handed out over the same time.   

To establish the Bank residents were initially asked to pledge that they would take up shares, and given the strong response to this campaign a financial feasibility study was undertaken by an independent professional organisation.

The positive results were followed with the creation of a Board of Directors – all volunteers – who then entered into the franchise agreement with Bendigo Bank to operate the enterprise.

It was deemed that $750,000 needed to be raised by the issuing of shares at $1 each so a Prospectus was issued inviting potential shareholders to take up parcels of shares ranging from   $500 to $75,000 worth. No one entity is allowed to hold over 10% of the issued capital.

So far, over 80% of the necessary capital has been raised, that is over $600,000 in a little over four months, a strong response by any standard, particularly in the light of some uncertainty through the global financial crisis.

Your Buderim Community Bank® is very close to being a reality so you should act promptly to acquire shares or to top up your holding of shares because it will be difficult to do so once the Prospectus has expired.