COMMUNITY BANK FORGING
AHEAD SHAREHOLDERS TOLD

York Community Bank’s annual general meeting attracted one of the biggest gatherings since the bank opened five years ago.

The meeting of York and Districts Community Financial Services Ltd on Saturday, November 10, at the York Golf Club attracted more than 30 shareholders and was followed by a barbecue.

Bank manager, Tony Hunter, told the meeting banking business had grown by $8million for the year and total business was $50million at June 30, 2007.

“We must be doing something right by way of service and we intend to keep doing it. “Shareholders should be proud of the company’s achievement. “We should also acknowledge our customers who help us make a profit and allow us to help the community,” he said.

“We’ve appointed a loans officer, Kandice Conforti, to help us achieve our loans targets. “We are already $1.2million above budget for the period to the end of October this financial year,” Tony said.

Three retiring directors, Joanne Allen, Geoff Barker and Lindsay McNeill were returned unopposed.

The meeting carried a motion to return a further six cents a share as a reduction in capital in lieu of a dividend. This was to save shareholders having to pay tax on the amount they receive.

A motion to pay a small fee to directors as recompense for out of pocket expenses incurred in the management of the company was also carried. The chairman, secretary and treasurer will receive $750 a year and other directors $500. All will also receive $50 for each meeting they attend.

A representative of Bendigo Bank, Frank Benaquista, told the meeting that the proposed merger between Bendigo and the Adelaide Bank would not affect the Community Bank philosophy in any way. It would be business as usual for local Community Banks, he said.

Lindsay McNeill

 

Photographs (right from top)
The company executive at the AGM of YDCFS Ltd (L-R) secretary, Joanne Allen, chairman, Geoff Barker, treasurer, Trevor Tainsh and bank manager, Tony Hunter; Shareholder, Kevin Milner and bank manager, Tony Hunter, cook the barbecue after the meeting; Bank stalwarts (L-R) Morag Whitney (Beverley) with Margaret and Pat Yates of York; At the AGM, Jan Barker with Richard and Nancy Boyle; Also at the meeting: Tammy Hunter, Rhys Turton and Ruth Baker.