THE City of Bayswater is spearheading the drive to establish suburban Perth’s first community bank.
At a special council meeting, members voted unanimously to assess the feasibility of establishing a locally-owned branch of the Bendigo Bank in Bayswater.
Part of the study will determine whether the community can come up with the $300,000 capital needed to establish the branch.
Bayswater Mayor John D’Orazio said council believed the concept of being the first such bank in the metropolitan area would be embraced by Bayswater residents and businesses.
“Since our last bank branch – the Commonwealth Bank – closed this month, residents have been inconvenienced and the business people of Bayswater are furious at the lack of support for the townsite by the banking conglomerates,” Mr D’Orazio said.
Baywater’s move is being watched closely by the Town of Vincent.
The Commonwealth Bank’s Mt Hawthorn branch is the sole Commonwealth Bank branch left in Vincent following the Leederville branch closure.
Vincent Mayor John Hyde said his council was about two weeks from setting up its own feasibility study.
