Over 130 community members attended the pledge launch of the campaign for a community bank, which would see 40 per cent of profits stay in the community.

The local committee and Bendigo Bank officially launched the community's pledge campaign - the first stage in a process to gauge community interest in the concept.

Steering committee chairman Kevin Cook spoke about the benefits that a community bank could bring to the community and by the end of the night $300,000 had been pledged.

In addition to the Tuesday launch at Tumby Bay, further information sessions were held at Ungarra and Port Neill on Wednesday.

Mr Cook said it was an excellent start to the campaign and urged people interested in the community bank model to obtain their pledge form from the steering committee early to ensure their interest in establishing the bank is registered.

"Now that a decision has been made to undertake a community bank campaign, the local committee will seek indicative pledges of support from local residents, traders and business people," Mr Cook said.

A pledge of support is an indication of the number of people who would be prepared to become a shareholder in the bank branch, and an indication of the financial level of support.

A pledge target of $750,000 from more than 300 people has been set for the Tumby Bay District Community Bank campaign.

Committee members will be available at the regular information tables in the main street to answer any questions local people may have about the bank model and the Tumby Bay campaign.

Bendigo Bank supports 243 community bank branches throughout Australia.

Under the model, once the pledge and feasibility processes have been complete, the community raises share capital via a public share offer.