The Bonnells Bay & Districts Community Bank? campaign has secured more than $800,000 in pledges from more than 200 applicants to buy shares in the future company.

The company will be specially formed to operate the proposed branch.

Committee spokesperson, Col Roach, said the achievement moved the community a step closer to opening the Bonnells Bay branch of the new bank with the start of a feasibility study.

Mr Roach is priming local traders and residents to expect a survey next month.

"They will receive a short, confidential survey via mail asking them about their current banking practices," he said.

"An independent consultant will survey our supporters to assess whether a branch in Bonnells Bay would be supported and profitable so that funds could be returned to the community and future shareholders.

"People will be asked if they intend to transfer their accounts to the Bonnells Bay & Districts Community Bank? Branch once it has opened."

The information provided will be accumulated and a summary report will be presented with results. Privacy will be protected.

"Those who have pledged and all who wish to see the branch come to reality must return their survey," Mr Roach said.

"Without a good result from feasibility the project will not go any further."

Mr Roach said the proposed Bonnells Bay & District Community Bank? Branch will create significant income for local community projects.

"There are 260 Community Bank? Branches all around Australia which have returned more than $40 million to local projects," he said.