Here in History: The Commonwealth Bank

During 1929, the Commonwealth Bank built a two storey brick building on the eastern side of Goondoon Street between William and Roseberry Streets. It was erected by local contractor FF Hill and operations of the Commonwealth Bank were transferred there. In 1959 legislation was enacted, resulting in a bank with three members, The Commonwealth Trading Bank, The Commonwealth Savings Bank and The Commonwealth Development Bank, which collectively became known as The Commonwealth Bank Corporation. As a result of the prominent mining and industrial activity, also the construction of new port facilities in the Gladstone area during the 1960’s, the business of the Commonwealth Bank increased to such an extent that it was necessary to extend the premises in 1966. As the town continued to develop it was essential that the bank build new premises and a site, directly opposite, on the western side of Goondoon Street was selected and the new bank was built in 1971.