In 2015 Community Sector Banking became the first Australian banking organisation to gain B Corp certification and we re-certified in 2017.
Awarded Best for Communities in 2016.
Awarded Best for the World: Changemakers award in 2017.
In 2013 we launched our first Reconciliation Action Plan (RAP) and in 2017 we were proud to advance to an innovative RAP.
Community Sector Banking remains committed to creating social change and closing the gap through the work we do alongside our Indigenous customers and suppliers.
We’ve designed a suite of innovative not-for-profit banking products to enable our customers to focus on their core mission and create social impact.
Our Social Investment Deposit Account has been certified by the Responsible Investment Association Australasia (RIAA).
In 2017 we celebrated our 15th anniversary as the only Australian banking service dedicated to the not-for-profit sector. We are immensely grateful to our 13,500 customers who bank with us and proud of the support we have provided to the sector and the wider community.
This yearbook demonstrates how we have created impact and value throughout 2017 and outlines our focus in 2018 to deliver stronger outcomes for the not-for-profit sector.
Aboriginal and Torres Strait Islander peoples should be aware that this publication may contain images or names of people who have since passed away.
Community Sector Banking respectfully acknowledges the Traditional Owners of the Country throughout Australia and recognises their continuing connection to lands, waters and community. We pay our respect to them and their cultures; and to Elders both past and present.
I would like to welcome Peter McNamara to the Community Sector Banking Board. Peter arrives as a nominee of InfoXchange, a shareholder of Community 21, and as senior staff member at Good Shepherd Microfinance. I would also like to note the retirement of Lauren Bean, formerly of Cara Inc. I want to thank her for the positive contribution she made to the company during her time on the Board.
Community Sector Banking was created to help not-for-profits take control of their financial destiny. It does this by providing financial services which are tailored to the specific needs of the not-for-profit sector – and, in doing so, helps make Australia a better place. We now have in excess of 13,000 customers and we are well-placed not only to deepen engagement with existing customers, but to attract new organisations that seek the tailored services we can offer. Bendigo Bank plays an important role in this, lending their community and financial expertise through their network of more than 500 branches.
The future is certainly very bright for Community Sector Banking, for the next 12 months we will focus on co-creation utilising feedback from within the sector to pursue our strategic priorities. We look forward to seeing what the coming year brings for our joint venture enterprise.
David Thompson AM
Community Sector Banking
This year, Community Sector Banking has worked closely with the sector to build new suites of products and services to meet its current and emerging needs. At the same time, we remain true to our vision of helping the sector gain greater control over its financial future.
With so much changing so quickly, the sector sees trust as a differentiator and actively seeks out organisations with similar values, culture and beliefs. While product and price can be replicated by the traditional banking sector, our commitment to B Corp and our Reconciliation Action Plan underscore the essence of our organisation – that is, we are about much more than selling products. Our success is measured by building resilience and capability in the organisations we serve and the communities we operate in.
We remain committed to working with the sector to address Australia’s ongoing housing affordability and homelessness issues using the financial and policy tools available to us. And this year, our Social Investment Grants Program is building resilience and capability in people experiencing homelessness, or domestic and family abuse.
The three pillars of our strategy – strengthening our company, strengthening the sector, and strengthening the community – guide our continuing investment to support the growth and resources of the sector. It is already expected we provide competitive and relevant services within the market but we will also continue to focus on truly understanding the needs of the sector. We will work in new partnerships and ecosystems to create a trusted environment in which we can build a more just Australia.
Fifteen years ago, Bendigo Bank and Community 21 asked what would happen if the not-for-profit sector decided to bank itself. From this vision, our founding shareholders’ commitment and investment in Community Sector Banking has enabled us to develop solutions that can underwrite the sustainability and performance of the sector, and ultimately, create healthier, fairer and more vibrant communities.
I’d like to thank our shareholders for their vision in giving the sector a new and growing voice.
Chief Executive Officer
Community Sector Banking
From left to right: Andrew Billing, Peter McNamara, Marnie Baker, David Thompson AM, Robert Musgrove
A belief that business should feed into the prosperity of the community is at the core of our business strategy. Pleasingly, this is well recognised and most recently evidenced by our making Fortune Magazine’s Change the World List. Ranked number 13 of the 50 companies globally that are doing well by doing good, we were one of only three Australian companies included. Recent awards from the Asiamoney Best Bank Awards, for Best Domestic Bank and Best Bank for Corporate Social Responsibility (CSR) also ratify this business strategy.
Like our joint venture partner, Community Sector Banking, our Bank is very proud of our commitment to our customers and the sustainability of the communities in which we operate. We continue to strive to achieve our vision of being Australia’s most customer connected bank.
Mike Hirst, Managing Director,
Bendigo and Adelaide Bank
It has fulfilled its vision of returning to the sector through recent dividend payments.
We remain proud of our contribution to the company’s success. We bring insight into the challenges facing the not-for-profit sector, and we provide balance between commerciality and community need and impact.
Within the not-for-profit sector, we have seen a continuation of previous challenges and a maturation of previous funding decisions. There is movement away from grant-based funding to more competitive contracts and payments for individual transactions, which is affecting how the sector manages its finances and delivers its services. It can be a difficult balancing act.
Reflecting this, Community 21 has narrowed its focus to ensure improved dividend opportunities for Community 21 shareholders. With a strong foundation of financial success supporting us, we can confidently ask, what else can we do together?
Andrew Billing, Community 21 Director
- Gymnastics Australia
- Interchange Loddon Mallee Inc. Honorary Board Member
- Victoria Paracycling Honorary Board Member/Secretary