Supporting the community.
We work with the communities we serve by supporting initatives and programmes through community investment.
Helping communities flourish
Returning profits back to the community is fundamental to how we operate as a mutual bank. Our Constitution directs us to 'promote, encourage and bring about human and social development among individual members and within the larger community within which members work or reside.'
Our community investment creates opportunities for our members, their families and communities to flourish. We are passionate about the future and supporting new ways of thinking that help improve our community and our world.
Measuring Community investment
The guiding principle is to “count all direct cash contributions for community benefit” i.e. the total amount of cash contributions paid directly to community organisations or in support of community activities. This excludes other activities such as overhead, time-in-kind support.
The Bank’s FY 2019 community investment
- Total cash invested in the community - $1,847,189
- Cash contributions as a % of Net Profits After Tax (NPAT) -6.83%
- Cash contributions per employee - $3,485
- Total volunteering hours -700
1% is considered best practice and the Big Four banks invested between 0.3%-0.6% under the same basis. Compared to the Big Four, our direct community investment, as a percentage of NPAT, is 11 to 22 times greater.