Cairns Bank

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Cairns Bank, Grafton Street, Cairns The sole outlet of Cairns Bank, Grafton Street, Cairns, Australia 02.jpg
Cairns Bank, Grafton Street, Cairns

Cairns Bank (formerly and commonly known as "Cairns Penny") is an Australian financial institution, operating primarily in retail banking. It is owned by its customers. [1] It was established in April 1899. [2]

Contents

Cairns Bank operates a single outlet at 24 Grafton Street, Cairns City, Queensland ( 16°55′32″S145°46′38″E / 16.9256°S 145.7773°E / -16.9256; 145.7773 (Cairns Bank) ). [2]

History

On Saturday 22 April 1899, the Cairns Penny Savings Bank opened for the first time. On the first day 86 accounts were opened and a total of £ 17/1/9 was deposited with the smallest deposit being one penny. [3]

Over the years, the bank has undergone various transformations and name changes due to legislative changes. These are summarised below: [2]

NameYearsCause of change
Cairns Weekly Penny Savings BankApril 1899–1946
The Cairns Cooperative Weekly Penny Savings Bank1946–1987Cooperative Societies Act
Cairns Penny Bank1987–2004
Cairns Penny Savings & Loan Limited2004–2020Banking Act (QLD) 2004
Cairns Bank2020–present

See also

References

  1. ↑ "About Us". Cairns Bank. Retrieved 12 March 2024.
  2. 1 2 3 "Our history". Cairns Bank. Archived from the original on 12 June 2020. Retrieved 12 June 2020.
  3. ↑ "NOTES AND NOTICES". Morning Post (Cairns) . Queensland, Australia. 26 April 1899. p. 7. Retrieved 12 June 2020– via Trove.

Further reading

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