Shareholder FAQs
Q: What are my shares worth?
A: Mundaring Community Financial Services Ltd is an unlisted public company. As such there is no "daily share price" available and as a result your shares are worth whatever someone is prepared to pay for them. This is determined at the time you go to sell them based on the negotiations between yourself and the buyer. You can find out what the share prices have been for the past twelve months by visiting the Low Volume Market page of the website.
Q: How are the profits of the Company being spent?
A: As you will be aware, we have developed a regular newsletter to the shareholders in which we outline the various community projects that have received support from the Company, and we are endeavouring to support a large cross-section of the community through this strategy. These projects are all funded directly by our company and not by Bendigo Bank Ltd.
Q: Where do the profits spent in the community come from?
A: The profits are generated by the Mundaring Community Bank® Branch. The gross income from the Branch is shared between Bendigo Bank and Mundaring Community Financial Services Ltd. After payment of all day-to-day running costs (wages, rent, electricity etc.) from our Company's share of the income, the balance of the profits is available for distribution to shareholders and then to the community. Naturally some of the profits are used towards growing the business for the future.
Q: Many companies claim to "support the community" - are we really different and if so how?
A: It is true many companies do say that they "give back" to the community. We are different in that we are specifically designed to do this, and actually do so on a significant scale. No more than 20% of our gross operating profits can be paid to shareholders as dividends, and the balance - after income tax (and if necessary, topping up reserves) is available for distribution through community projects at the board's discretion.
Q: How do you decide who gets assistance?
A: Before any organisation gets assistance from us, we discuss the project idea and issue and then help them to either make an application to us or direct them to a more appropriate source of funds.
Q: I receive your shareholder's newsletter but I'm not sure what company I have shares in.
A: You will receive our newsletter because you subscribed for shares in Mundaring Community Financial Services Ltd when it was formed in 2002, or have since privately purchased shares in the Company. This company operates the Mundaring Community Bank® Branch Bendigo Bank under a franchise agreement and should not be confused with the Bendigo Bank Limited.
Q: I am a recipient of a Centrelink benefit and they have asked me to provide a valuation of my shares in Bendigo Bank. What do I do?
A: As mentioned above if you receive a shareholder's newsletter it is because you have shares in Mundaring Community Financial Services Ltd not Bendigo Bank Ltd. There is a big difference in the value of the shares and the associated dividends. Please be assured that at this time the value of your shares will most likely not affect your entitlements. However we are happy to answer your queries on a case by case basis and provide copies of supporting documentation you may need - ring us on 08 9274 6833.
Disclaimer: Please note that the advice provided in relation to shares and the associated activities regarding shares is indicative and educational in nature. This advice does not take the place of professional advice so for specific advice relating to shares and share trading please refer to your own financial or legal advisor. If you require any specific information in relation to your shareholding in Mundaring Community Financial Services Ltd please refer your enquiry to the Board.