Does Mt Eliza Need a Community Bank


‘Why does Mt Eliza need a community bank? We already have the four majors.’ This is a question frequently asked of the volunteers who have been working towards the opening of a community bank for the last two years.

Unlike other towns and rural areas, this initiative did not come about due to any of the four major banks pulling out of the community. In Mt Eliza, it arose through a growing concern about how the community might support young people at risk and the increasing number of young families moving into the area. However, it’s not just about families and young people. Everyone has a list of projects in Mt Eliza – the growing number of retirees has needs as do the burgeoning sporting groups.

Mt Eliza is not perceived as a high need area and does not attract funding for community development projects. Therefore, a small group of locals decided to approach the Bendigo Bank to investigate how the community bank model of putting local funds back into the community could be applied to Mt Eliza.

Community banks put money back into the community through profits. Rye and District Community Bank has re-invested $2.3 million into their community working with the Shire to provide a youth centre, support local schools and sponsor the local sports clubs. The newly formed Mt Eliza Community Bank Board has met with organisations representing those with disabilities, carers,  and those who support people who have fallen on tough times. We have heard stories of how a few hundred dollars can make a real difference to these groups that support the community in various ways.

The Mt Eliza community can make a huge difference by contributing to the opening of this community bank. Rye did it, Dromana did it, and Hastings did it as well as the 240 community bank branches around Australia, so why not us?

Invest in your community by purchasing your shares now. We need your help or this simply will not happen. What have you got to lose? We need you to get involved now, show your support for the community, so that your community can reap the rewards of grants and sponsorship income for years to come.

For more information, please phone Paul Andrews on 0418 378 029, Sean Limpens on 0418 770 511, or Claire Dawe on 9787 8913.

Claire Dawe, Director Mt Eliza Community Enterprise Limited


Article from The Village Mt Eliza Magazine, Autumn 2010