‘Tis the season of the Annual General Meeting, and an attentive audience gathered at the Maldon Community Centre last Wednesday evening for the Community Bank Maldon & District’s AGM.

And it was all good news: under the guidance of the Bank Board and Branch Manager Paul Simmons, it was a successful year in 2022/2023. Over 500 new accounts were opened and the Bank recorded a significant profit of $639,000 (much improved from the previous year’s profit of $26,000). Treasurer Kerry Healy attributed the increased profit to the revenue sharing model currently in place with the Bendigo Bank’s head office, as well as the rise in interest rates.

The Bank has used its continuing success to build on its community partnerships, with over $100,000 contributed directly to various projects, events and programs last financial year. This includes driver training courses, scholarships and the small business action plan.

As the Newstead branch closure took place in 2023/2024 and not in 2022/23, this event was mentioned only briefly in the Branch Manager’s report, and will be covered more fully in next year’s annual report.

Bank Chair Ross Egleton thanked the Board’s directors and welcomed new Board members Michael Annear and Jessica Clarke-Hong. Michael is Director of Infrastructure and Development at Mt Alexander Shire and Jessica is Governance Manager at the City of Greater Bendigo; they bring a wealth of expertise and experience to the table.

Since the doors opened in 1999, the Bank has invested over $3.65million into local communities. Watch out for a big announcement from the Bank next year, to celebrate its 25th anniversary. 

This article appeared in the Tarrangower Times, 10 November 2023.