Big change creates bigger impact
$183 million in Community Bank®contributions since 1998
- $18.44 million distributed in 2017 financial year
- Financial, social and economic impacts celebrated
- 30% of Community Bank® funding returned to sport
- Contributions by state and biggest impact areas available
Bendigo Bank and its Community Bank® partners have reached an important milestone, announcing $183 million had been distributed to local communities since the unique banking model was established in 1998. About $18.4 million in funding has been distributed to local community projects and initiatives in the 2017 financial year.
Bendigo and Adelaide Bank Executive, Engagement Innovation Robert Musgrove said the impact is far greater than simply a financial contribution.
"In addition to an important source of revenue, Community Bank® enterprises provide local people with award-winning banking services, employment opportunities, and a local investment option for shareholders," Mr Musgrove said.
"Last financial year, Community Bank® companies returned more than $5.5 million in shareholder dividends, employed more than 1,500 people, and more than $100 million in wages and services was spent locally, helping the sustainability and prosperity of hundreds of Australian communities.
"Community Bank® came to life at a time when the big four banks were significantly reducing their branch presence, and in many cases, towns leaving towns with no bank at all.
"Town leaders decided something needed to be done. We believed that to solve this problem, all participants - customers, communities and the Bank alike - would need to each invest something significant to derive benefit.
"Engaged communities decide on the priority of important community investments, and then set about coupling Community Bank® profits with business and government support.
"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.
Sport tops leader board for Community Bank® contributions
Sport remains the biggest impact area for Community Bank® contributions in the 2017 financial year, with more than $5.56 million returned to Australian sporting clubs and associations.
Mr Musgrove said this investment reflected the important role that sport plays in improving physical and mental health and fostering connection and belonging for all people.
"Whether a junior league ground or an established bowling green, sport in any form encourages healthy living and brings communities together. From purchasing uniforms for junior teams to pledging seed funding to build sporting stadiums, Community Bank® companies are deeply connected with their communities through a mutual understanding of the benefits sport brings," he said.
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%).
"To many in business, corporate responsibility is about philanthropy, but for Bendigo Bank and its Community Bank® partners, it’s our core business strategy," Mr Musgrove said.
"It’s communities that define themselves and prioritise what’s important to them. People banking with their local Community Bank® enables the community enterprise to play an active role in collaborating, listening and responding to community needs, ultimately providing investment into infrastructure and services for all people to use.
"We are enormously proud of our achievements to date. We celebrate this milestone with the 1,900 volunteer directors who operate Community Bank® branches across 320 cities, regional communities and country towns across Australia,” he said.
Voted number one in Forrester’s Australian Customer Experience Index across all industries, Bendigo Bank is consistently recognised for having the highest customer advocacy in the industry and is renowned for its proposition to supporting communities for the long-term.
The Bank and the Community Bank® model has recently been recognised on a national and global scale. Last month, the Bank was named in the FORTUNE Annual ‘Change the World List of companies that are Doing Well BY Doing Good’ as the top Australian company, and earlier this week, the Bank was recognised by Shared Value Project as the top Organisation to Lead Through Shared Value.
Community Bank® contributions by state
Australian Capital Territory
Community Bank® branches: 4
Investment since 2000: $1.7 million
Investment 2016/17: $54,400
Biggest Impact Areas:
- Civic, religious and other interest groups: $28,000
- Sport: $8,400
- Emergency Services: $5,700
Northern Territory
Community Bank® branches: 4
Investment since 2000: $1.1 million
Investment 2016/17: $121,600
Biggest Impact Areas:
- Sport: $58,000
- Event: $32,200
- Arts, Culture and Heritage: $6,100
New South Wales
Community Bank® branches: 48
Investment since 2000: $27 million
Investment 2016/17: $2.12 million
Biggest Impact Areas:
- Sport: $653,000
- Civic, religious and other interest groups: $449,000
- Education: $296,000
Queensland
Community Bank® branches: 52
Investment since 2000: $17 million
Investment 2016/17: $2.34 million
Biggest Impact Areas:
- Civic, religious and other interest groups: $529,300
- Sport: $471,000
- Education: $341,000
South Australia
Community Bank® branches: 14
Investment since 2000: $7.2 million
Investment 2016/17: $728,400
Biggest Impact Areas:
- Community infrastructure: $256,600
- Sport: $198,300
- Events: $105,000
Victoria
Community Bank® branches: 140
Investment since 2000: $101 million
Investment 2016/17: $10.7 million
Biggest Impact Areas:
- Sport: $3.53 million
- Education: $1.2 million
- Civic, religious and other interest groups: $1.3 million
Tasmania
Community Bank® branches: 12
Investment since 2000: $2.6 million
Investment 2016/17: $473,400
Biggest Impact Areas:
- Community Enterprise Foundation: $119,800
- Sport: $104,000
- Civic, religious and other interest groups: $76,000
Western Australia
Community Bank® branches: 43
Investment since 2000: $22.4 million
Investment 2016/17: $2.43 million
Biggest Impact Areas:
- Sport: $526,700
- Community infrastructure: $417,900
- Education: $402,100
Example of projects which have been funded either partially or wholly by Community Bank® companies per state and region are available on request.
See how the Community Bank® model is delivering for Australian communities
