BUDERIM COMMUNITY BANK ®

Make it a reality and the Community will benefit!

Plans are in place to establish a Community Bank ® in Buderim that will be owned by Buderim shareholders, for the benefit of all residents, with a majority of the profits going directly back into the Community, covering a wide range of concerns and interest.

A Steering Committee has been established to drive the process, and as such is seeking pledges that would indicate a willingness to take up shares at some time in the future, as this process passes through the necessary Legal and regulatory steps.

The Buderim Community Bank ®, once established, will be a normal trading bank, established on the Bendigo Bank Model, which has successfully created over 200 such banks around Australia in the last 10 years.

The Steering Committee is asking interested people, organizations, and groups who either live in, or are connected to the Buderim area (postcode 4556) to consider pledging to this very worthy cause. It is hoped that 300 pledges will be received, amounting to at least $600,000, to allow the process to move to the next stage, which is a feasibility study. (This is the anticipated amount required to establish the bank, and cover the associated costs until such time as the branch becomes profitable, however as many shareholders as possible are required).

Once the feasibility study confirms that the Bank would be a viable business, a prospectus will be issued. It is at this stage that pledgees would have the opportunity to convert their pledge to shares in this exciting new venture.

Pledges from $500 to $10,000 are being sought, to allow as many people as possible to become shareholders in the newly created Buderim Community Bank ®

MOST IMPORTANTLY – the profits from the bank will be shared by the Buderim Community and the shareholders of the newly formed company. A majority of the profits will be distributed in the form of sponsorships, charitable endeavours and special projects .

The Buderim Community Bank ® Project Steering Committee is asking that all BWMCA affiliated organizations promote this worthy cause within their organizations. More information (and pledge forms) is available on www.thebuderimbank.com  or by e-mailing info@thebuderimbank.com. 

John Burgess and Ken O’Flaherty (members of the BWMCA executive) are on Community Bank Steering Committee, along with Geoffrey Hole, and would be able to answer any questions. Pledge forms are also available at the OPO.

Committee members are available to address your next meeting, if required.

Please contact either Keith Neuendorf (Chairman) on 0408 714 151
or Jenni Davis (Secretary) on 0418 387 079.