Four local businesses have put up their hands to host a banking agency in their shops, with a final location expected to be decided next week.

The community-driven campaign for better banking services comes after Terang’s ANZ branch announced it would be closing its doors by the end of the month, while the NAB branch is cutting back its opening hours.

Steering committee member and Corangamite Shire councillor Chris O’Connor said there was “solid interest” from Terang shops in hosting an agency of the Cobden and District Community Bank.

“What we’re doing now is working through their issues and whether it works for their business,” he said.

“They’re coming back to express their interest next week and then we will take it to a higher level and decide where it will be.

“The steering committee’s intention is to have a sub-branch with full banking services, five days a week.”

Within two to three years the community is hoping to expand to a standalone building as a Terang community bank. It’s an approach that has business backing.

“All the businesses that have shown interest have had the general community’s interest at heart as well,” Cr O’Connor said.

Once a location is chosen, it is expected to take six to eight weeks to set up the agency.