Cairns Bank

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 / -16.9256; 145.7773 (Cairns Bank)).[2]

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.[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

References

  1. ^ "About Us". Cairns Bank. Retrieved 12 March 2024.
  2. ^ a b c "Our history". Cairns Bank. Archived from the original on 12 June 2020. Retrieved 12 June 2020.
  3. ^ "NOTES AND NOTICES". Morning Post (Cairns). Queensland, Australia. 26 April 1899. p. 7. Retrieved 12 June 2020 – via Trove.

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