Nightcliff Community Enterprises Limited (NCEL) is a local company owned by around 300 shareholders which was established specifically to provide a Community Bank® for Nightcliff and Darwin.
NCEL has been able to provide more than $170,000 in support to the Nightcliff community to date and this will increase as the bank grows with community support.
When Nightcliff NAB closed its doors in 2006 the area was left without any banking services. A group of local business owners began discussions to discover whether it was feasible to establish a bank using the Bendigo Bank Community Bank® model.
After initial discussions with the Bendigo Bank a steering committee was set up to raise the capital needed to have a formal feasibility study done and meet legal and set-up costs.
Many months of work by volunteers followed to find people willing to invest in the future of Nightcliff and the northern suburbs.
Apart from the obvious need for banking facilities, the promise of bank profits being returned to the local community proved to be a pivotal factor.
When the feasibility study returned a positive result Nightcliff Community Enterprises Limited was established with a list of around 300 local shareholders and a Board of Directors with a cross section of community and business experience.
Although the initial share offer was fully subscibed, packets of shares do become available from time to time. Information on NCEL shares.
The AGM for NCEL is held at Nightcliff Sports Club In November each year.
The public is welcome and all shareholders are encouraged to attend.
A $500 donation is raffled on the night with the winner able to direct the prize to their favourite local charity. (Conditions apply)
The 2017 winners, Ann and Judy, decided to nominate COTA and the Fannie Bay History and Heritage Society
The Directors are all volunteers who provide their experience and time to help this community initiative grow. Local people who feel they could contribute to this board are welcome to contact the Chairman for an initial discussion.
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.