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]
Cairns Bank operates a single outlet at 24 Grafton Street, Cairns City, Queensland (16°55′32″S 145°46′38″E / 16.9256°S 145.7773°E).[2]
History
editOn 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]
| 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
edit
References
edit- ^ "About Us". Cairns Bank. Retrieved 12 March 2024.
- ^ a b c "Our history". Cairns Bank. Archived from the original on 12 June 2020. Retrieved 12 June 2020.
- ^ "NOTES AND NOTICES". Morning Post (Cairns). Queensland, Australia. 26 April 1899. p. 7. Retrieved 12 June 2020 – via Trove.
Further reading
edit- The Cairns Co-operative Weekly Penny Savings Bank Ltd. established 1889 : 67 years of progress and development. The Bank. 1966.
- Ryle, Peter; McKenzie, Mary; Cairns Penny Bank (1999). 100 years : the story of the Cairns Penny Bank 1899 to 1999 (1st ed.). Trinity Printers.