THE Maffra and District Community Bank branch has reached its minimum capital raise target and the new branch is now set to open its doors in late February.
The $800,000 target was achieved just before Christmas and Maffra district now boasts 223 shareholders in its own Community Bank branch.
Maffra and District Community Bank chairman Brett Pund said the board was overjoyed at achieving its goal.
“To raise $837,500 in start-up capital is an amazing achievement,” he said.
“It shows just how much the community believes in the community bank model and the benefits it will bring.
“And luckily for those who still want to be involved in this venture, we have decided to continue our share offer for a short time.”
A further $150,000 of shares, valued at $1 each, will be available to buy until January 31.
“We want to make sure our Community Bank branch has as wide a shareholder base as possible, so we can truly represent and benefit the entire Maffra and district community,” Mr Pund said.
“In the same way, we encourage all our families, retirees, traders, young professionals, business owners and community groups to also move their banking business across to our new branch.
“Maffra and District Community Bank branch will offer a full range of quality banking services from its first day of operation, including term deposits, personal loans and business banking.
“And the more business we get on our books, the more contributions we can make to help nurture the success of local community groups, projects and events.”
For more information about Maffra and District Community Bank branch phone Brett Pund 0437 759 026.