Nightcliff Community Enterprises Limited (NCEL) Annual reports are the Financial reports of the company which operates the Nightcliff Community Bank® branch of the Bendigo Bank as a franchise of Bendigo Bank.
Reports for the past five years are available here as PDF files, the 2018 Chair report is printed below for convenience.
Even though the exact date in September falls outside the financial year, I’m sure 2018 will be remembered as the 10th birthday of the Nightcliff Community Bank. I’m equally sure it will be remembered for some other events as well, for the Royal Commission on banking, for the continued struggle of the Darwin economy with the wind down of construction at the Inpex facility and also for the headwinds facing the wider housing market in our larger capital cities.
In this context we
have seen the bank continue to grow, albeit at a slightly slower pace
than could have been expected in better local economic circumstances.
This growth has enabled continued support of local community
organisations and continued provision of one of the fundamental goals
of establishing the bank, which was to ensure Darwin people had
access to fair and honest banking facilities.
While I should
emphasis that shareholders and the board do not have access to any
account information in the branch, there is no doubt that operating
a Bendigo Community Bank branch with a company owned by a spread of
local shareholders and governed by a local board of directors has a
profound influence on the operation and culture of the branch. The
ongoing revelations of the Royal Commission have brought into sharp
focus just how important this aspect of community banking is.
direct financial rewards are important too
we were also able to pay another dividend of 3c per share to
Nightcliff Community Enterprises Limited shareholders as
well as providing community support programs totaling around $30,000.
behalf of the Board and shareholders I do particularly thank our
current branch team, Jeff, Lyn, Kay and Shannan for their
contribution and dedication. There
is no doubt about how important their connection to the community is
to the success of the branch.
would also like to thank the staff at Bendigo Bank for their ongoing
support, and in particular to Paul Palcini who has worked closely
with the branch in the business banking sector.
around Australia Community Bank branches have a positive story to
tell which provides us with confidence of success as Nightcliff
Community Bank moves into a second decade of banking.
Some of the support projects undertaken by the four NT Community Banks are listed below.
You can help develop more community support simply by using the services provided by your local Bendigo Bank Community branch.