A COMMUNITY bank expected to be up and running by July could partially fund major projects in Bacchus Marsh. A new aquatic centre proposed by Moorabool Council could be one of them.
For two years a steering committee has been planning to set up a community-owned bank, and a formal decision is expected in March.
Chairwoman Claire Sutherland said community banks had been a success in towns similar in size to Bacchus Marsh.
She said the Bendigo Bank-backed project could be a “key player” in funding a $1 million community contribution needed for the proposed aquatic centre.
“It’s perfect timing. These are enterprises which put money back into the community. The bank can provide up to $200,000 annually through seed grants for various community projects,” Mrs Sutherland said.
The committee has a list of “big-ticket” items it would like to support, including a community garden and various youth projects.
A planned survey will gauge community interest.
At least 600 responses are needed for the project to continue to the next phase. Already, $800,000 has been pledged in support.
“We have more than 250 people willing to become shareholders in this public venture, but we also need to determine the level of banking business local people would be prepared to bring across,” Mrs Sutherland said.
“The survey will provide answers to enable a decision on whether to proceed to a public share offer.”
Details: bacchusmarshcbproject.com.au.
