Sunshine Coast Community Financial Services Limited ABN 12 100 576 261 NewsletterMay 2007 Revenue grows by 34% The Community Bank® branches of Bendigo Bank located our shareholders.” on the Sunshine Coast continue their growth pattern. “Our biggest competitor is not other banks, our rates or Operating revenue for the half year ended December 31, product, our major opposition comes from the human 2006, increased by 34 per cent to $619,000 compared condition known as procrastination,” said Mr Kefford. with $492,000 for the same period the year before. Losses “We’re here to stay, offer every service that any bank in the were cut to $27,000 compared to the $119,000 loss country can offer and with service that ranks near perfect in reported for the same half year in 2005. survey after survey.” “We’re finally approaching that tipping point where we “Our shareholders want and deserve a dividend and they will should see full profitability from all branches in the half year get one. We can achieve a dividend and an increase in the ending in June,” commented James Kefford, Chairman of the share price, if, all of our shareholders who have not opened Company that oversees the local branches. “Of course that accounts, seriously get into a branch and begin working on depends on continuing strong support from our shareholders it. At every opportunity, it is important to consider YOUR and the community. We now have a tremendous staff and a bank,” said Mr Kefford. “And to those who only have one working infrastructure to support our business growth.” account, look into our car, home, even health insurance “I encourage all shareholders to take the time to call into options, our credit or debit cards and very competitive one of our branches and talk to our staff about transferring savings and superannuation plans.” your banking business. I continually ask the question: Why The Cooroy Community Bank® Branch opened in November, would the “owner’ of a community Company be banking with 2002, followed by Marcoola and Tewantin in 2004. The the opposition? That’s simply growing the opposition’s profit nationwide Community Bank® branches now form a network and dividends for that Company’s shareholders, rather than of 195 plus 150 Bendigo Bank owned branches. building the prospects not only for our communities, but for Offer to purchase Bendigo Bank rejected An open letter to Community Bank® shareholders from the dividends and strong share price performance. This has Chairman of Bendigo Bank been achieved by providing good customer service and by Dear Community Bank® shareholders working co-operatively with communities across Australia. Successful customers and successful communities are You will be aware that recently Bendigo Bank was presented creating a successful bank. with a conditional proposal by Bank of Queensland for a merger of the two companies. As well as delivering strong earnings growth, Bendigo Bank has consistently made substantial investments in its The proposal involved significant risks including business. We have continued to deepen the community integrating organisations with different business models relationships that are at the heart of our business model and philosophies. Bendigo’s Board rejected the Bank and that have been so successful in helping the Bank to of Queensland proposal, judging it was not in Bendigo flourish. The Bendigo Bank brand has a unique position shareholders’ best interests. In reaching this decision, we in the Australian market place and the Bank now has valued the feedback of Directors and shareholders in many more than 1.1 million customers. We have developed a Community Bank® companies and thank them for their meaningful wealth management business and have invested participation. in the IT, payment systems and other essential business The Board and management of Bendigo Bank remain infrastructure required to support continued long-term committed to a unique banking strategy that is delivering growth. good value to shareholders. Given the strength of the Bendigo Bank business model, the Bendigo Bank is a strong and successful business. quality of the Bendigo Bank brand, the size of the Bank’s For many years it has delivered attractive returns to its customer base and the extent of the investment we have shareholders, with significant growth in earnings and continued over page Board of Directors, Sunshine Coast Community Financial Services Limited, 36A Maple Street, Cooroy, QLD 4563 James Kefford (Chairman), Peter Billinghurst (Secretary), Lew Brennan, Fred Broomhall, Len Daddow, Louis Formosa, Karla Hobson, Geoff Nicholls, Jay Pashley, Greg Reddaway, Rick Cooper. Offer to purchase Bendigo We’re open Saturdays! Bank rejected continued A reminder that Cooroy Community Bank® and Tewantin Community Bank® branches are both open Saturday made in future growth, the Bendigo Board expects that mornings from 9am-Noon. Additionally, all branches Bendigo Bank is well placed to continue its strong growth. open 9am to 5pm on week days. And when you just Moreover, the Board believes that Bendigo Bank has the have a quick question, please call. You speak directly to resilience and flexibility to prosper in a variety of market your branch staff when you call your Community Bank® conditions. branches. On behalf of Bendigo Bank, I thank you for supporting your local Board in its endeavors to improve the prospects of your community. I assure you Bendigo Bank remains a committed partner in providing Community Banking and all Students join bank Board its associated benefits. Robert Johanson Chairman Bendigo Bank Limited What’s new? The Eumundi ATM is scheduled to move to the Historical Society Building in early May. The Bendigo Bank team is still working on an alternate site for the Agency in Eumundi. Our Peregian Beach Agency/ATM continues to grow. The Agency is located with the Peregian Beach Pharmacy while the machine is 24/7 in the pharmacy building. When you are headed to the beach, remember, YOUR bank is there too. The Caloundra Community Bank® opened on 3 May. Chairman Ron Strong and the Board there have been working most of three years to see this branch to Jennifer Pattison and Carmen Bell receive their first Board Briefing from completion. Chairman Jim. Of course, you can use the ATM and bank at any branch of Two Noosa District High School Year 12 students have Bendigo Bank throughout Australia. Also, on the Coast are been named on the Community Bank® Board for the Company owned Bendigo Bank branches in Nambour and year. Jennifer Pattison and Carmen Bell will attend each Maroochydore and a Community Bank® in Gympie. Board meeting, receive all reports of the operation of the Company and participate as regular Board members with the We’re seeing green exception of voting on motions before the meeting. “We are now in our fourth year of students participating Your Community Bank® branch is continuing to “go green”. in our regular Board meetings,” said Jim Kefford, Chairman Bendigo Bank launched its national Carbon Offsets product of the Company which operates the branches in Cooroy, earlier this year. Customers can now offset all of the carbon Tewantin and Marcoola in conjunction with Bendigo Bank. emissions used within their home and from their vehicles “The students grow in their confidence and understanding with the help of your Community Bank® branch. of business practices and assist the Board in spreading the By purchasing carbon credits for your home or vehicle, we word on the benefits to our community through banking with will ensure that the equivalent number of trees to offset the Community Bank® branches. By sharing our time with these emissions will be planted on behalf of the customer. the students, it is another way our Board can give back to Purchasing carbon credits from your local Community Bank® our community as well.” branch is an easy and effective way of making a difference. The volunteer Board of your Company meets monthly with It may seem like a strange thing for a bank to do, but our managers to review the performance of our bank. Bendigo Bank has always been focused on the sustainability Day to day operations of the bank are under the control of local economies, communities and the environment. of Bendigo Bank, thus assuring complete privacy of your banking. NO DIRECTOR EVER HAS ANY ACCESS TO Green home and personal loans are also available as part of CUSTOMER INFORMATION. the Bank’s Generation Green product range. Cooroy Tewantin Marcoola 36A Maple Street Shop 1, 105 Poinciana Avenue Shop 2, 932 David Low Way or phone: (07) 5447 7131 or phone: (07) 5440 5289 or phone: (07) 5448 8582 Monday to Friday 9am - 5pm Monday to Friday 9am - 5pm Monday to Friday 9am - 5pm Saturday 9am - 12 noon Saturday 9am - 12 noon www.bendigobank.com.au Bendigo Bank Ltd, The Bendigo Centre, Bendigo VIC 3550 ABN 11 068 049 178 AFSL 237879. (BMP345) (09/05/07).