As the big four banks pull out of suburban strip shopping areas, traders and residents are turning to local government to help fill the gap. Already operating in Elwood, East Malvern, Parkdale, Carrum Downs and Laverton, the community banking world is soon to be joined by Armadale, Sandringham, Brunswick and East Ivanhoe. It is a long-established community area, with most businesses here for the last 15 to 20 years. The council has yet to be approached by the High Street traders, but Cr Ullin has signalled his support for the campaign. The Victorian Local Governance Association's project officer, Sally Isaacs, is putting together a kit, partly funded by Bendigo Bank, outlining how councils can help set up a community bank.
Councils have an interest to stand up and fight for local economies.
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