General News
26 April, 2022
The spirit of Minyip Community Bank standing strong
The Minyip Community Bank continues to provide for the community.
THE Minyip Community Bank continues to operate and provide residents with the opportunity to bank locally, as several Wimmera regional banks have closed in recent years.
Minyip Community bank manager Mark O’Dowd said the bank remained “significantly important” to the community.
Born out of a small town’s frustration at banks closing their branches in the area, leaving Minyip and Rupanyup residents without access to a banking branch, the community rallied to form the first community bank branch in Australia in collaboration with Bendigo Bank in 1998.
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Minyip residents funded the building, staff and operations of the bank, while Bendigo Bank provided staff training and the necessary banking license.
Since its second year of operation in 1999, the bank has generated profit that is placed directly back into the community and has given Minyip “longevity and life”.
“At the heart of the Minyip Bank is the community and the customer,’” Mr O’Dowd said.
The Minyip and Rupanyup Bank branches have funded over $1M into community projects and sponsorships for groups including the Men’s Shed, Dunmunkle Lodge, sporting facilities and clubs, student scholarships and health services.
Mr O’Dowd said that the Bendigo Bank community branches have “significant representation in the Wimmera” including community banks in Minyip, Rupanyup, Dimboola, Edenhope and Horsham.
There are also agencies located in Stawell and Warracknabeal.
Today, Bendigo Bank has 324 community bank branches throughout Australia, made possible through the efforts of a small town community.