COMMUNITY Bank Rosewood & District is celebrating the 20th anniversary of the opening day on Saturday, December 6, with a gala dinner and grants and sponsorships presentation evening at the Rosewood Cultural Centre.
In early 2004, Bendigo Bank representatives approached local group C.A.T.I. to investigate the possibility of forming a Community Bank in Rosewood.
The project began with the formation of a steering committee to oversee its progress.
Twelve enthusiastic locals met on a fortnightly basis for almost 18 months.
As a result, Rosewood & District Financial Services Limited, a public company, was founded in July 2005. Forming a public company was a requirement to purchase a franchise from Bendigo Bank.
We needed to do a feasibility study to see if the Rosewood community were interested in supporting a Community Bank.
Due to limited financial resources to fund a mail out of several hundred surveys, Councillor David Pahlke provided initial seed funding, while additional support was generously contributed by the Lions Club of Rosewood.
The Rosewood Lions Club received their funding back after the Community Bank sponsored theirconvention shirts in 2006, by promoting the bank on the sleeve of their shirt.
The steering committee members spent hours speaking with community members to gain their support.
To make a Community Bank become a reality, the steering group had to first establish a public company, prepare a prospectus, understand due diligence requirements, and learn the responsibilities expected of a public company director.
Then we had to learn the ‘ins and outs’ of understanding a franchise agreement. The support that was pledged would eventually be converted into company shares.
We had to find suitable premises and of course fund the very expensive shop fit out. ‘Everything to make you want to pull your hair out’ is the best way to describe that time.
We finally opened our doors on Monday, December 5, 2005 and held the official opening on Friday, December 9, a very hot summer’s day.
Two original steering committee members-directors are still with the company today.
Kate Hillan (née Lenihan), Company Chair, and Eirys Heit, Company Secretary-Treasurer, are looking forward to reconnecting with many of the bank’s valued supporters.
All shareholders and partners are welcome to attend along with all former Board Directors, staff, Branch Managers, customers and not-for-profit organisations we have supported over the past 20 years.
Up to four representatives from each grant or sponsorship successful application are invited to attend the presentations.
As space is limited, please make sure to RSVP as soon as possible, and no later than November 20 if you would like to attend.
— Eirys Heit, Company Secretary- Treasurer
Please advise of any special dietary requirements.
RSVP by emailing: rdfsl@bigpond.com
