Warburton Community Bank® celebrates 15 years of community service
Upper Yarra, Tuesday 25 February 2015: The Warburton Community Bank® Branch reaches a wonderful milestone of fifteen years of operations on 25 February 2015. Happy Birthday!
One of only twenty Community Bank branches in Australia at the time, the Warburton Community Bank branch model of doing business was an innovative solution to a lack of banking services in the area that relied on the commitment and support of more than 600 community members who became, and remain, shareholders to provide set-up funding.
These visionary members of our community saw the potential of a local bank, owned and operated for locals that, based on a profit-for-purpose model of operation, returned 80% of profits back into the community rather than to ‘top end of town’ investors.
Today that returned-to-the-community profit amounts to more than $2.6 million invested in local projects in schools, sporting clubs, interest groups and events since 2000.
Chairman Peter Kimberley says, ’”While we carry a Bendigo Bank logo it is important for people to realise that we are a separate and independent business that operates as a franchise. This means we have the security and support of a large bank, but a wholly local focus that benefits our community each and every day
“The best way for our community to grow is to bank with us at our Warburton or Yarra Junction Community Bank branch!”
Between the two branches, there are more than 6000 local customers, and every year staff help with more than 72,000 transactions in the branch and more than 168,000 ATM transactions. That’s more than 240,000 opportunities a year to serve happy customers!
There are now more than 300 Community Bank branches and the Warburton Community Bank is a leading example of innovative services and community engagement, recently winning the ‘Branch of the Year 2014’ for the region. The Upper Yarra Community Enterprise, who operate the Community Bank franchise also uniquely provide a Community Development service to the community to support local groups achieve their best.
To honour this milestone, we will announce our successful February sponsorship recipients and celebrate the recent announcement of our Scholarship 2015 recipients – three young local people who are a part of our community’s future.
For further information please contact the Warburton or Yarra Junction Community Bank® Branch or visit www.upperyarra.net.au