THE bid to establish a community bank at Bunyip is becoming closer to reality, with officials setting a target to open in August.

Bunyip and District Community Bank chairman Andrew Troedel said there was a real sense of pride and excitement in the community about the bank.

More than 200 people attended a prospectus launch at the town hall last Thursday.

The enthusiastic attitude by the town to the proposal was reflected with more than $480,000 in share applications received at the launch.

Mr Troedel was pleased with the response to the prospectus launch.

He said it was better than expected and was confident the community would raise the $600,000 needed to kick-start the bank sooner rather than later.

“This is an enormous opportunity for the people of Bunyip and district to play an integral role in the establishment of a publicly-owned enterprise,” he said.

“For many it will be the first time they have been involved in such as project, for many it will be the first time that they have owned shares.

“We want as many people as possible to be given the opportunity to become a shareholder in the Bunyip and District Community Bank and share in the success that it’s certain to bring our community.”

Mr Troedel said the share offer was open to everyone.

“People who didn’t originally pledge their support have already purchased shares, and we are finding others are increasing their share holding from what they initially pledged.”