Member-owned bank opens in Rockhampton
A QUEENSLAND Country Bank branch is now officially open in Rockhampton.
It is the 28th branch of the member-owned bank in the state and fills what Capricornia Chamber of Commerce president Phil Henry called a “gap in the market” after the departure of MyState Bank earlier this year.
The bank on Bolsover Street hired four workers from MyState Bank and is looking for another.
“It’s a community bank and it’s going to provide more choice for our businesses, which is what we really need,” Mr Henry said.
“We have a very mixed economy here so we don’t have the real highs, but we’re travelling very well at the moment with all the infrastructure projects that are on the go.
“Personally I’m a big fan of community-owned banks and other services: they do provide back to the community, they keep the money local – all the good things.
“As restrictions get lifted even further I think the market will simply grow.”
Queensland Country Bank CEO Aaron Newman said 75 per cent of the bank’s new lending in the past 12 months came from branch visits.
He said it demonstrated people in regional Queensland wanted face-to-face contact.
“We have branches across all of the major centres across Queensland and Rockhampton’s been an omission for us,” Mr Newman said.
“With some competitors leaving town and the banks closing branches, it really seemed like a good time for us to come to town and provide banking services to the regional community.
“Everybody who opens an account with us becomes a shareholder of our organisation. We retain profits and we reimburse those back in providing better banking services to our members.”