Bendigo and Adelaide Bank celebrates 20 years of community banks

Bendigo and Adelaide Bank faces the royal commission this week. But today it has something to celebrate — community banks.

Celebrating the 20th anniversary of the opening of the first community bank in Rupanyup and Minyip. From left, Eileen Walsh, Rae Faulkner, Leanne Martin, Peter Niewand, Dianne Walsh and Kellie Oxbrow. Pic: Chloe Smith.

Bendigo and Adelaide Bank will be the guest of the royal commission in Brisbane on Friday but today it celebrated the 20th anniversary of the creation of its community banks in the Victorian town of Rupanyup.

The bank now has 322 community banks with another six slated to open shortly and they account for around one quarter of the bank’s earnings.

The idea was to engage the community in the bank and to share the spoils.

Bank chair Rob Johanson said the community banks were the idea of former boss Rob Hunt and by working with the local community have delivered “local business we never thought we could get”.

The bank is now a major sponsor of local community events, which has boosted its profile throughout regional Australia and now the suburbs.

In a statement David Matthews, the inaugural chair of the Rupanyup and Minyip Community Bank, said the concept “came to life at a time when the big four banks were significantly reducing their branch presence, and in many cases, leaving towns with no bank at all”.

“The community was resolute in its view something needed to be done. We believed that to solve this problem, all participants — customers, communities and the bank alike — would need to each invest something significant to derive benefit.

“Twenty years on, we have really strengthened Rupanyup and Minyip and its people. We no longer expect others to solve our problems. Instead of holding protest meetings we hold planning meetings. We identify a need, develop a solution and partner with government and business to deliver an outcome.”