Celebrating the opening of the Lakeside Pakenham Community Bank yesterday are Lakeside’s Jack Mitchell, back left, with branch manager Jenny Polites, Graeme Squires and staff members Michelle, Lynne, Odile and Nicole, front. 51124 Picture: Stewart Chambers
By Jade Lawton
MONEY was flowing at the opening of the Lakeside Pakenham Community Bendigo Bank yesterday – but instead of going in to the bank’s coffers, cash was being handed to community groups.
Before a single dollar could be put in the bank’s new tills, directors gave almost $9000 to several deserving recipients.
The community cash boost is a key part of the bank’s business model, where profits are distributed among local shareholders and put back into the community.
One of the bank’s directors, Marlene Jones, who is also the owner of Brumby’s in Lakeside and Heritage Springs, handed gold envelopes to representatives from each community group.
“It’s a really good feeling to be doing this, and this is just the first round,” she said.
The money has funded a new kitchen for Lakeside Lutheran College’s multi-purpose room, touch screens for students of Pakenham U3A, and a vegetable garden for Lakeside Primary School.
The bank is also funding the removal of asbestos from the Pakenham Girl Guides headquarters, and provided a cash boost to the fledgling Lakeside Sailing Club, which will encourage youngsters to learn sailing and rowing on the lake.
Money was also handed to the Pakenham CFA to fund a new support vehicle, and to the Pakenham Patchwork Quilters for new materials for their quilts, which are donated to battered women’s shelters and hospitals.
Pakenham Tennis Club and Lakeside Children’s Centre rounded out the beneficiaries.
Central Ward Councillor Brett Owen cut the opening ribbon.
“Council has been pleased to support this bank, the second in the growth corridor, after Beaconsfield opened last year,” he said.
“The process has been a long one, with regular meetings, information and prospectus nights… and even though (my shares) are very small, I am proud to say I am a shareholder in this bank.”
Chief general manager of Bendigo and Adelaide Bank’s Russell Jenkins thanked the members of the board of directors for the more than 9000 voluntary hours they have spent getting the bank off the ground.
Branch chairman David Impey said the funds were just the first round of grants for the community.
“The dream is now a reality,” he said.
“When it comes to what you can do in the community, please dream big. It is a really exciting time for us but it does need your ongoing support.”
