Cairns Bank

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

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) Coordinates: 16°55′32″S145°46′38″E / 16.9256°S 145.7773°E / -16.9256; 145.7773 (Cairns Bank) ). [1]

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. [2]

Over the years, the bank has undergone various transformations and name changes due to legislative changes. These are summarised below: [1]

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

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References

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

Further reading