Welcome to the East Malvern Community BANK's Facebook page. Visit us at http://emcb.com.au
In the six years to June 1999‚ over 1700 bank branches closed in Australia‚ as part of a cost rationalisation program by the major banks. As a way of restoring bank branch services in communities disenfranchised by the loss of local branches‚ Bendigo Bank devised the Community Bank® model.
East Malvern Terminus Village lost its two branches as a result of major banks rationalising and traders experienced a general decline in business. The traders recognised that a way of restoring local patronage was to get a bank branch into the community shopping centre. In April 1999‚ traders organised a public meeting‚ with the dual aims of gauging public interest in a local Community Bank® Branch and of creating a steering committee to examine the feasibility of putting a Community Bank® in place.