The people of Creswick have filled the target share subscription of $600,000 for their first Community Bank branch.

More than 280 local people are now shareholders in the community venture.

Community Bank branch company chairman Graeme Mitchell said achieving the share capital total was a momentous occasion for the community.

"To raise $600,000 is no mean feat," he said.

"The people of Creswick have faith in the community banking concept, their community and Bendigo Bank and we look forward to now working towards the opening of our bank branch."

Mr Mitchell said work would start soon on the construction of the branch which will be located on the corner of Raglan and Cambridge streets in Creswick.

The Community Bank branch is a franchise, with the community owning the rights to operate a Bendigo Bank branch.

A branch manager will be appointed after advertising for this position, with further staff members to be recruited early in the new year.

Creswick and District Community Bank branch company directors expect the share offer to be over-subscribed to the permitted limit as people rush to purchase the remaining shares in the venture.

A further $150,000 in shares is available before the maximum shareholding limit is reached.

Copies of the prospectus and application forms are available from Mitch's Menswear in Creswick.

For further information about becoming a shareholder, contact Graeme Mitchell on 5345 1180 or Bob Orr on 5345 2165.