Cairns Bank

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]

Cairns Bank operates a single outlet at 24 Grafton Street, Cairns City, Queensland (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]

Name Years Cause of change
Cairns Weekly Penny Savings Bank April 1899 - 1946
The Cairns Cooperative Weekly Penny Savings Bank 1946-1987 Cooperative Societies Act
Cairns Penny Bank 1987-2004
Cairns Penny Savings & Loan Limited 2004-2020 Banking Act (QLD) 2004
Cairns Bank 2020–present

See also

References

  1. "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

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.