A "Save Our Station" group has been set up to ensure essential maintenance work is carried out on the historic building.
A public meeting held last month to gauge support attracted more than 30 people and the Promote Dunstan organisation has agreed to take responsibility for the project.
A conservation plan and condition report on the 1907 building revealed urgent repairs, estimated to cost about $90,000, were needed to keep the station watertight.
Promote Dunstan president Rory Butler said fundraising was well under way.
"I think things will move on quite nicely from here."
The building is listed category 2 with the New Zealand Historic Places Trust and is now used as a base for the Clyde Stationary Museum Group.