FORM 5

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

OMB APPROVAL

Check this box if no longer subject to

OMB Number: 3235-0362

Section 16. Form 4 or Form 5 obligations

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Expires: January 31, 2005

may continue. See instruction 1(b).

Estimated average burden

Form 3 Holdings Reported

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility

hours per response. .1.0

Form 4 Transactions Reported

Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person*

2. Issuer Name and Ticker or Trading Symbol

6. Relationship of Reporting Person(s) to Issuer

(Check all applicable)

Duckless

Elwood

G.

Community Bancorp.

CMTV

__X___Director

_____ 10% Owner

(Last)

(First)

(Middle)

3. I.R.S. Identification

4. Statement for

______Officer (give

_____ Other (specify below)

Number of Reporting

Month/Day/Year

title below)

4924 VT Route 14

Person, if an entity

12/

31

/2002

_________________________

(Street)

(Voluntary)

5. If Amendment, Date of

7. Individual or Joint/Group Filing (Check Applicable Line)

Newport

VT

05855

Original (Month/Day/Year)

_X_Form filed by One Reporting Person

(City)

(State)

(Zip)

009-28-0900

___Form filed by More than One Reporting Person

Table 1 - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security

2. Trans-

2A.

3. Transaction

4. Securities Acquired (A)

5. Amount of

6. Ownership

7. Nature of

(Instr. 3)

action

Deemed

Code

or Disposed of (D)

Securities

Form:

Indirect

Date

Execution

(Instr. 8)

(Instr. 3, 4 and 5)

Beneficially

Direct (D)

Beneficial

Date, if

Owned

or Indirect

Ownership

any

at End of

(I)

(Month/

(Month/

(A)

Issuer's

Day/

Day/

or

Fiscal Year

Year)

Year)

Code

V

Amount

(D)

Price

(Instr. 3 and 4)

(Instr. 4)

(Instr. 4)

Community Bancorp. Common Stock

103,950

I

Held by Trust

Community Bancorp. Common Stock

21,313

I

Held by Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

*If the form is filed by more than one reporting person, see Instruction 4(b)(v).

SEC 2270 (9-02)

**Intentional misstatements or ommissions of facts constitute Federal Criminal

Violations. See 18 U.S.C. 1001 and U.S.C. 78ff(a).

/s/ Elwood G. Duckless

1/14/2003

Persons who respond to the collection of information contained in this form are not required

**Signature of Reporting Person

Date

to respond unless the form displays a currently valid OMB control number.

NOTE: Table II Not Applicable at this time