Our bank is so close!
Since launching our Community Bank Prospectus early in February this year, the residents and businesses of Varsity Lakes have subscribed to over 540,000 one dollar shares which indicates strong commitment for the establishment of our own Bank.
The voluntary Board of Directors would like to thank everyone for their support of this community initiative.
(Above) Voluntary Board Members from left: Donna Russo,
John Campbell, Wayne Clinton, Jill Owen, Nic Rone and Chris Gregory
Varsity Lakes Community Bank® will be revenue generating from the very first day, as it already has nearly $10million in banking business on its books. In some areas it takes over a year to get to this point – our bank hasn’t even opened its doors yet!
The Varsity Lakes community can be proud of the support shown for the Community Bank and the Board is greatly encouraged by this.
Once the minimum capital requirement of $615,000 is raised, the go-ahead for fit out of the premises at Shop 7, 195 Varsity Parade can begin. This will take about four weeks, so the bank could be opened very soon.
Subscriptions range from 500 to 20,000 shares, so if you have been thinking about becoming a shareholder in the Community Bank, now is the time to act. A further 70,000 shares (at $1 each) are required, so every dollar invested by the community brings us closer to opening our doors.
In accordance with our Franchise Agreement, the Community Bank will have $12,000 available for community grants and sponsorships once we have reached the $10million dollar mark and have opened our bank.
Contact Jill on 5578 9831 for a Prospectus or further information.
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