What does our Community Bank do for the people of Warburton & Yarra Junction?
We reinvest 80% of profits back into the community and since February 2000, we have provided more than $3 million to community-based projects and organisations via our Sponsorships program.
In the same way as a regular bank, your Community Bank offers products and services with the goal of being a profitable business. But Community Banking is based on a ‘profit-with-purpose’ model, which means our profits are returned directly to the community that has generated them – people living in postcodes 3799 and 3797 – that’s you!
We call this ‘shared value’ and this is a foundation of our Community Bank branches, which are owned by the community (account holders and shareholders) for the community.
In big banks, 100% of that profit is returned to shareholders but in Community Banking we are different.
Our shareholders agreed to receive a 20% share, leaving the remaining 80% for reinvestment in the community. That’s where the money comes from and that’s how we’ve been able to put more than $3 million back into the community. Simple, isn’t it?
And there’s a simple reason to bank at your Community Bank – because it means something you have to do every day actually benefits you and your community every day.
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