The board of Queensland Country Bank came to Ipswich last Thursday for a lunch with local businesspeople. That followed their board meeting in the morning. The Townsville-based bank likes to get out and about in Queensland’s regions, and last week was Ipswich’s turn.
The bank has two branches in the city, at the Riverlink shopping centre in North Ipswich and at Booval, and is planning a third with the expected site in the booming Springfield area.
In these days it’s a little strange to find a bank so strongly focused on branch-based banking but this isn’t your normal bank. It’s owned by its members, having begun life as a credit union, and if you open an account, you’ll become an owner too because everyone with an account is a shareholder.
As CEO Aaron Newman explained, focusing on branches allows connection with people. He said, “Our interest is in catering to everyone’s needs, whatever their age. We recognise that older members enjoy coming into a branch and the staff enjoy the social connection that brings.
“But it’s not just seniors. Young people looking to buy homes enjoy a face-to-face with staff. They can do their everyday banking online but big financial decisions really need personal interaction with skilled advisers.”
He said that the branch model supported their strategy of expanding business banking. Many businesses still need to do weekly banking of takings and that needs a physical location to interact with.
As for the board, its members like to meet in regional centres around Queensland because it gives them the chance to get a feel for those centres. They can talk to the local business community and ensure that their bank is grounded in the communities it serves.
Newman said, “We are really mindful of giving back to the community. We have a successful community grants program, which will soon announce a recipient in Ipswich.”
