THE Adelong branch of the Bendigo Bank celebrated a milestone this week, marking two decades of providing financial products and services to its customers as well as returning profits back into the community.
Board members and staff, past and present, shareholders and original steering committee celebrated 20 years of the Adelong Community Bank with a special celebration dinner held at the Adelong Services and Citizens Club last Friday evening, while the branch got out the birthday balloons and cupcakes to celebrate with customers on the actual anniversary of its opening on Tuesday.
Adelong had been without a bank for 12 years when the Bendigo Bank branch opened its doors to customers on August 27, 2004.
Adelong Bendigo Bank Board Chair Matt Pearce said the establishment of the bank was initiated and then driven by the Adelong community.
“Adelong started and then the growth went into Gundagai and Tumut, Tumut initially with an agency and now, within the last 12 months, is a full branch, offering full banking facilities and services,” Mr Pearce said.
“The breakeven point at the time of establishing the bank in Adelong was $25 million and they achieved that in 12 months. Then the business became profitable in year four, when they started paying dividend back to shareholders. So it’s been a very successful endeavour.
“Now having opened the branch in Tumut where there has been good support from the community, the business is looking really strong and positive.”
The Bendigo Bank is now the only bank in Tumut that offers a full banking service, five days a week, and is the only bank in Gundagai after the closure of NAB last year.
With a total book currently at $282 million, the community bank has grown to just under 5500 customers, and a staff of 13, all locals, across its three branches.
While profits go back to shareholders, a percentage also goes back into the community where $2.9 million dollars has been shared between the Adelong, Tumut and Gundagai communities over the past 20 years.
Just this year, the Bendigo Bank was again the major sponsor of Tumut’s Falling Leaf Festival, while also supporting the Tumut Golf Club Bendigo Bank Junior Golf Academy, Tumut Bullants Junior Rugby Union Club, Uralba Hostel in Gundagai, Tumut Cycle Classic, and the Adelonia Theatre, just to name a few.
The Adelong Pool relocation is a great example of a community facility benefitting from bank profits.
Peter Watson was Adelong Bendigo Bank’s first manager, followed by Stephanie Smyth until her retirement.
Natalie Bartlett is now senior branch manager at the Adelong, Gundagai and Tumut Community Banks, where former Board Chair James Hayes said local people are building rewarding careers.
“We haven’t had a lot of staff over the years because the business has retained staff who stay for many years; we’ve got customers whose grandchildren got a start here and have gone on and still work for Bendigo Bank,” Mr Hayes said.
Mrs Bartlett agreed.
“What I love is that we’re offering a whole career here,” she said.
“They start here and they can end up going a long way just within our business.”
Bendigo Bank Board members currently include Matt Pearce (Chair) and Bill O’Connell (secretary) from Adelong, Pat Kelleher and Natalie Cullinger from Gundagai, and Donna Martin (treasurer) and Ginny Goode from Tumut.
“Our Board and all the previous Board members and shareholders should be extremely proud of what they have achieved because it truly is a great achievement,” Mrs Bartlett said.
