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Media release: World-first banking service lets customers get act.ive for charity

10 Nov 14

Innovative not-for-profit banking specialist Community Sector Banking is launching a world-first banking service, which allows customers to give to a range of worthy causes simply through their banking.

The new division of Community Sector Banking – act. has been established after two years in development to deliver a positive social impact around Australia.

It will use a crowd-sourcing model to raise money for social enterprise projects across all sectors, each month.

Under the initiative, act. will allocate ‘impact dollars’ – real dollars taken from the profit it earns – to each act. customer to donate to the project of their choice. Customers will choose where their donations go, how much and how often.

The amount of impact dollars a customer generates will depends on their banking habits.

For example, a customer who holds a $250,000 mortgage with act. could generate $31 a month to reinvest in the social project of their choice.

act. believes in profit for purpose and act. is a world-first – a new way of banking where who you bank with does matter,” the Head of Marketing, Communications and act. at Community Sector Banking, Amanda Watt, said.

Click here to read the full media release: act. World first banking service lets customers het act.IVE for charity