Bank built as fund-raising effort

Press, 6 August 1987, Page 20

Bank built as fund-raising effort

PA Hamilton Paeroa Rotary, told a year ago that it should look to its finances, has gone into the business of building banks.

It beats bottle drives for fund-raising, says the Town Clerk and Rotarian, Mr Ross Miller. He thinks the club’s latest venture — putting up ° building for Postbank — is a first for New Zealand service clubs.

“The days of raising money by bottle drives and other traditional means are over,” Mr Miller said. “It is the time of corporatisation, and we knew Postbank was needing a new building. "Someone said: ‘Why don’t we build the bank?’ and everything fell into

place. We had financial and building expertise among our 26 members and we secured the last and probably the best commercial site in the central town.”

Rotary cannot own a building, and so a trust has been set up to administer the building, which is being constructed by club members with only minor sub-contracting for work such as wiring and lighting.

It is hoped the building will be handed to Postbank in about 12 weeks.

After 10 years the trust’ would own the building freehold and the project .would produce a return to the community, Mr Miller said.