22 June 2018

Community Banks celebrate the return of $183 million to their local communities

| Canberra Community Bank
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Bendigo Community BankWhen you use your credit card or take out a home loan with your bank, do you know where the majority of profits go? For members of a Bendigo Community Bank®, the answer is simple: right back to their local community!

Profits from Community Banks are being used to change lives right across Australia, by helping to build and improve community facilities, support emergency services, sponsor local sporting teams, and contribute to charities and not-for-profits.

Last month, Bendigo Bank and its Community Bank® partners celebrated an important milestone, announcing that $183 million has been distributed since the unique banking model was established in 1998.

Bendigo and Adelaide Bank Executive, Engagement Innovation Robert Musgrove said the impact is far greater than simply a financial contribution.

“After 19 years of operating the Community Bank model, we are proud of the commitment of our customers and communities who play an important role in helping local people to shape the communities they want to live in.”

This year alone, community projects and initiatives in Australia received $18.4 million in funding from Bendigo Community Banks. Sport was the biggest impact area, with more than $5.56 million provided to sporting clubs and associations. Mr Musgrove said the investment in sport reflected the important role that it plays in improving physical and mental health and fostering connection and belonging for all people.

Other major areas of impact include Civic, Religious and other Interest Groups: $2.54 million (14%), Education: $2.35 million (13%), Events: $1.91 million (10.5%), and Arts, Culture and Heritage: $1.1 million (6%).

In Canberra, $1.7 million has now been returned to our community from just four Community Bank® branches operating since 2002. Run by the Canberra Community Bank Group, the Calwell, Curtin, Jerrabomberra and Wanniassa branches have had a significant positive impact by supporting Canberra’s interest groups, sporting teams and emergency services.

Neale Guthrie, Chairman of the Board of Canberra Community Bank Group, says “It’s great that these figures re-emphasise the fact that the Community Bank® gives back profits to the local community.

“And it only tells half the story – as quite often our contribution paves the way for other organisations to contribute, so facilities and services receive the attention and support they need. This year, $50,000 has been returned to Canberra so far, and we look forward to this increasing as our branches continue to grow.

“We are so proud to be able to sponsor many local organisations. In particular, the great work of Menslink, who provide free counselling and programs to local young men in need.

“The Fearless initiative is also very important, as it successfully raises funds for domestic violence services in Canberra. We’re also very pleased to be able to support STIR, which helps young creators and entrepreneurs get established and grow Canberra as a vibrant and innovative city.”

Neale says that if you want to choose a bank, you should look no further than your local Bendigo Community Bank® branch, because unlike other banks whose profits go elsewhere, you can rest assured that yours are going right back into helping Canberra.

To support your local Canberra Community Bank branch, and your community, visit any one of the four branches in:

Curtin: 1/20 Curtin Place, Curtin. Ph: 6260 5140

Jerrabomberra: 2a/2 Limestone Dr, Jerrabomberra. Ph: 6299 8357

Wanniassa: Wanniassa Shopping Centre, Sangster Place. Ph: 6231 9024

Calwell: Calwell Shopping Centre, Webber Crescent. Ph: 6291 3385

For more information on how the Community Bank® model is delivering for Australian communities, watch this short video or visit Bendigo Bank Communities.

This is a sponsored article, though all opinions are the author’s own. For more information on paid content, see our sponsored content policy.

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