Bega resident Peter Irving, a foundation member and former shareholder-director of the Narrandera and Community District Bendigo Bank branch, raised the issue with the bank's head office.

The move for a Bega branch follows the success of a recent Pambula meeting at which financial pledges of $50,000 on the night indicated there would be sufficient community support for the bank to consider undertaking the feasibility study, which is the next stage in the establishment program.

If Bega were to gain a branch, then the same preliminary agenda of meetings and a feasibility study would be necessary.

Any move towards establishment, Bega would join a list of 42 small Australian communities currently in various stages of establishment consideration by the bank.

Bendigo Bank's south east regional manager Chris Bone said communities needed to demonstrate a genuine desire to have a Bendigo Bank branch.

"This normally requires financial pledges of about $600,000 for initial working capital and the people who provide this capital become shareholders in the new branch.

"No one shareholder is allowed to own more than 10 per cent of the branch shares and, frankly, we would prefer to have 100 share holders contributing $6,000 each than 10 shareholders contributing $60,000 each.

"Once established the branch shares can be traded."

A minimum pledge of $500 is considered satisfactory, however the money is not required at this early stage.

"If sufficient money is pledged then the bank will proceed with a detailed feasibility study.

"Dependent on a satisfactory result the community then purchases the right from Bendigo Bank to operate a branch, secures suitable premises and purchases the necessary fittings and operating systems.

"The Bendigo Bank will provide the coverage of its banking licence along with selected and appropriate banking products, staff training and ongoing support.

"For the branch to be successful it needs to establish a client base of 500 to 600 which takes time to achieve.

"When fully operational the branch provides the full range of normal banking services.

"It normally takes 10 to 12 months to get a branch up and running and once operational it is controlled by a 10-member board made up of shareholders.

"Also there are significant costs associated with the establishment process and any initial nett annual loss would be supported by the parent bank.

"It is usually about three years before dividends can be paid at which point any nett profit is split 50 per cent to shareholders and 50 percent to Bendigo Bank," he said.

Mr Bone is also involved in discussions with members of the Narooma community.