Accounts with the Bendigo Bank franchise, under the new name, can be opened at the current agency within the Daylesford Newsagency.

Newly elected chairwoman Chris Sedgman said the bank now needed to gather pledges and shareholders so it could work towards a stand-alone bank building.

Ms Sedgman said that the building would be within Daylesford's business area but would cater for other areas including Trentham and Hepburn Springs.

While Ms Sedgman would represent Daylesford, deputy chairmen Ian Williams and Ted Francome would represent Trentham and Hepburn Springs respectively, she said.

Other office bearers are project manager Koos Hulst - assisted by Ian McBean and Lesley McGillivray, with Laurel Freeland elected public relations officer.

Ms Sedgman said she was "very pleased to be working with high-calibre local leaders".

"I am confident that with the support of the Bendigo Bank, residents in Daylesford and surrounding communities will soon recognise the benefits to them of a successful local community bank serving their needs," she said.

"Similar community banks have succeeded in Creswick and Maldon."

Ms Sedgman said the Maldon Community Bank had contributed $533,000 in grants to the community over the past four years.

"It is a well-tried model and the preliminary work has already been done," she said.

"There is a real feeling that people want to be a part of it.

"And now that we have a name people can go to the agency, open an account and that money will become part of our community bank."