About

Real people, real understanding
17,000 not-for-profit customers and counting

17 years ago, a group of not-for-profits came together with a plan to take control of their financial destiny. Joining with Australia’s most community focused bank, Bendigo Bank, they created Community Sector Banking. Today, we’re still Australia’s only banking service dedicated to the not-for-profit sector. Our unique model combines banking expertise with the passion and community drive of not-for-profits. As the first banking service to be certified as a B Corporation in Australia, we believe business should be a force for good.

Our vision

We have a vision to be the financial institution that strengthens not-for-profits in delivering social change and community wellbeing. We harness the understanding and capabilities of our joint venture partners to provide tailored and innovative financial solutions for not-for-profit organisations.

We believe

Business can and should be a force for good. Diversity drives success and are committed to equal opportunities for our staff. True reconciliation with Aboriginal and Torres Strait Islander peoples requires action. We aim to create a more just, equal and reconciled Australia. Businesses have a responsibility to protect the environment in which they operate, and we do not invest in fossil fuels.

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Partnering with the Australian Council of Social Services (ACOSS)

On 5 July 2019 we announced a unique long-term partnership with the Australian Council of Social Services (ACOSS) designed to strengthen the community and not-for-profit sector.

The partnership will combine the strengths, reach and valuable networks of both organisations and work to achieve a fair, inclusive and sustainable Australia.

Working to help create healthier and more vibrant communities, the partnership will launch a new national survey of the community sector that will provide regular data and analysis on the challenges confronting the sector and the capacity of not-for-profit service providers to meet these challenges.

The Australian Council of Social Service is a national advocate for action to reduce poverty and inequality and the peak body for the community services sector in Australia.

Codes of Practice

At Community Sector Banking, we pride ourselves on our commitment to conduct business ethically and to the highest possible standard.

In line with this commitment, Community Sector Banking complies with a range of codes of practices including the Banking Code of Practice, the Code of Operation for the Department of Human Services and the Department of Veterans’ Affairs, Family Law Guidelines and the ePayments Code.

Community Sector Banking has adopted the Banking Code of Practice. The Banking Code of Practice is a voluntary code of conduct which sets standards of good banking practice for us to follow when dealing with you.

A copy of the Code is available at any Bendigo Bank Branch or by telephoning 1300 236 344. A copy of the Code can also be downloaded or printed here.

Further information on the Code is also available from the Australian Banking Association website.

Community Sector Banking has adopted the ePayments Code (formerly known as the Electronic Funds Transfer Code of Conduct).

Download a pdf copy of the ePayments Code.

The Code of Operation covers the recovery of debts from Department of Human Services income support payments or Department of Veterans’ Affairs (DVA) Payments.

It aims to ensure that recipients of income support payments and DVA payments have sufficient income to maintain adequate food and shelter.

The guidelines below set out the manner in which Community Sector Banking will:

  1. Deal with applicants for transfers of mortgage and consents to transfer of title pursuant to a Family Court determination or approval; and
  2. Otherwise enforce debts affected by a family law property settlement.

Where customers hold joint credit facilities, invariably the account holders will have a joint and several liability to the Bank. This means that the Bank is entitled to ask for the debt to be repaid by the parties jointly and by each of them severally (individually). An agreement between the parties for one of them to take responsibility for a joint and several debt will not change the right of the Bank to require either or both parties to pay the debt. The Bank has to agree to the re-allocation of liability before it is bound. For example, if one spouse has a credit card debt and the other spouse agrees to assume responsibility for the debt, the Bank’s right against the credit card holder is not affected by the agreement unless the Bank agrees to recognise the change of responsibility.

A person’s liability to a bank can be either as a borrower or as a guarantor. In these guidelines, a reference to a liability to a bank includes both borrowing and guarantee liabilities. These guidelines are for the assistance of parties, their legal practitioners and representatives involved with family law property proceedings (including agreements for division of matrimonial property) and the division of their joint property that is subject to a mortgage to a bank and of their other joint and several liabilities owed to the Bank.

Guidelines

  1. Unless the Bank is a party to a court order or to a privately negotiated agreement between parties to a marriage, the Bank is not automatically required to consent to arrangements such as the transfer of property mortgaged to the Bank or the re-allocation of debt between the parties. The Bank has to agree to the re-allocation of liability or the transfer.
  2. While the Bank will try to accommodate any new arrangements, it may need to conduct investigations into the parties’ financial position so as to satisfy itself about the ability of the transferee of property or the party who has assumed liability for joint debts owed to the Bank to fulfill the financial commitment to the Bank by themselves, without undue hardship.
  3. The Bank might either agree to the transfer of the property subject to the mortgage and release the other party from further liability or retain its rights under the personal covenants in the mortgage against that other party.
  4. In the majority of cases a bank would be reluctant to release joint debtors from their joint obligation to the Bank where the debt is an unsecured liability.
  5. Where a transfer of property subject to the Bank’s mortgage is contemplated, applicants should keep in mind the following points:
    1. Allow sufficient time for the Bank to make its assessment of the proposal; it is advisable to contact the Bank as soon as the likelihood of a settlement or court order altering the interests of the parties in mortgaged property arises:
    2. Don’t enter into the agreement or seek the court order until you know the Bank will agree to the transfer.
    3. The Bank needs to make a fresh financial assessment of the party who is to assume responsibility for the mortgage debt as if it is a new loan application;
    4. Where the court intends making an order requiring one of the parties (A) to pay a lump sum or an amount by instalments in settlement of the other parties (B’s) interest in property, if A is to borrow that amount the Bank will take that amount into account when assessing A’s ability to service the existing loan facility. Depending on A’s financial circumstances, the Bank might not be satisfied that the existing facility together with the new obligation to B can be serviced by A without undue hardship.
    5. Full financial particulars including the terms of the proposed agreement need to be provided to the Bank;
    6. If there are continuing credit facilities such as an overdraft on a joint (or several) account that is secured by a mortgage, the Bank may have to stop further drawings on the account until the matter is resolved or unless both parties expressly agree to further drawings;
    7. The Bank is not able to divulge information about one of the parties to the other party or to their practitioners or representatives without that parties’ consent;
    8. If there are other co-owners their consent will be required to any dealing with the property;
    9. If other persons have guaranteed the parties’ obligations to the Bank, the consent of those guarantors might be needed before any re-arrangement of the facility;
    10. There may be Bank and other fees and costs payable for obtaining the Bank’s consent to a dealing and in connection with the dealing itself;
    11. Each application for the Bank’s consent will be assessed on a case-by-case basis.
  6. When there is a proposal that one party is to be responsible to repay the Bank for jointly owed unsecured debt, an application to the Bank for consent to recognise the change in liability should be made. The points a) to k) above should be observed.
  7. Please note that where the court grants one party the sole right to reside in a property to the exclusion of the other party, the Bank’s rights against the other party under the mortgage would be preserved unless the Bank agrees to release the other party from the mortgage.
  8. If the Bank declines a transfer or to release a party from further liability, it will be entitled to enforce that liability, if that becomes necessary.

These guidelines are intended to be for general information and guidance. They are not intended to be legal or financial advice. They are not a substitute for legal or financial advice. If you are contemplating or are involved in family law proceedings or a family law agreement you should seek specialist legal and financial advice.

Our relationship with Chris and Community Sector Banking is huge to us. We are appreciated, valued as individuals and treated as humans.

Sally Goldner
Executive Director / Transgender Victoria

Community Sector Banking is with us every step of the way, offering support and advice far above what a bank would normally be able to provide.

Matthew
Chief Financial Officer / Canefields Clubhouse
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