Community Bank Newcastle has opened on King Street.
Under the SERVICE ONE umbrella, NOVA Alliance Bank members were among more than 12,000 others who transitioned their banking services to the Bendigo Bank Network.
SERVICE ONE Mutual Limited CEO Matthew Smith said there was a natural synergy with the Bendigo Community Bank network and the model was on track to return a total of $300 million in profits.
"Our local teams remain in place providing members with friendly, familiar faces and the support members have come to love," he said.
"We look forward to building on these community strengthening initiatives in the Hunter region."
In December 2022, SERVICE ONE Mutual Limited acquired NOVA Mutual Limited in Newcastle and entered into an agreement with Bendigo Bank to become part of the Community Bank network.
The Newcastle branch is one of many Community Banks, with other sites operating in Deakin, Belconnen, Tuggeranong, Calwell, Curtin, Cooma, Tumut and Batemans Bay.
The internationally acclaimed Bendigo Community Bank model has grown from a concept designed to empower communities at risk of losing face-to-face banking services, to a network of more than 300 branches nationally with $20 billion in loans and $31.3 billion in deposits.
