Cairns Bank Explained

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 .

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 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:

!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

• Banking in Australia
• List of banks
• List of banks in Australia
• List of banks in Oceania
• List of oldest companies in Australia

Further reading

• Book: The Cairns Co-operative Weekly Penny Savings Bank Ltd. established 1889 : 67 years of progress and development . 1966 . The Bank .
• Book: Ryle. 100 years : the story of the Cairns Penny Bank 1899 to 1999. 1999. 1st. Trinity Printers. McKenzie. Mary. Cairns Penny Bank.

Notes and References

1. Web site: About Us . 2024-03-12 . Cairns Bank.
2. Web site: Our history. live. https://web.archive.org/web/20200612023202/https://cairnsbank.com.au/about-us/our-history. 12 June 2020. 12 June 2020. Cairns Bank.
3. News: 26 April 1899. NOTES AND NOTICES.. 7. Morning Post (Cairns). Queensland, Australia. 12 June 2020. Trove.