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]
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 |
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]
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 |