Community Bank returns $40 million
(21 May 2010 – Australia) Bendigo and Adelaide Bank have announced that its Community Bank network has now returned more than A$40 million dollars to support local community groups and projects right across Australia.
The milestone further strengthens the importance of the Community Bank network as an alternative source of funding for local community initiatives, the bank said in a statement.
Since its inception in 1998, more than 256 Community Bank branches have been opened in partnership with 1,690 volunteer directors and more than 63,300 local shareholders.
The network now has almost 790,000 accounts and boasts a total banking book of A$16.3 billion.
Bendigo and Adelaide Bank’s, Executive, Customer and Community, Russell Jenkins, said the Community Bank initiative has far exceeded all expectations.
Achieving A$40.3 billion in returned profit to the community is a fabulous achievement and just goes to show the innovative Community Bank model is not only sustainable but makes meaningful contributions to communities across Australia, Mr Jenkins said.
Behind those statistics are hundreds of stories of Community Bank branches making a real difference to the lives of local people," Mr Jenkins said.
Mr Jenkins added that the bank hopes this success is an indication of things to come and pledged that they would continue to be an important part of local communities.
Since its inception in 1998, more than 256 Community Bank branches have been opened in partnership with 1,690 volunteer directors and more than 63,300 local shareholders.
The network now has almost 790,000 accounts and boasts a total banking book of A$16.3 billion.
Bendigo and Adelaide Bank’s, Executive, Customer and Community, Russell Jenkins, said the Community Bank initiative has far exceeded all expectations.
Achieving A$40.3 billion in returned profit to the community is a fabulous achievement and just goes to show the innovative Community Bank model is not only sustainable but makes meaningful contributions to communities across Australia, Mr Jenkins said.
Behind those statistics are hundreds of stories of Community Bank branches making a real difference to the lives of local people," Mr Jenkins said.
Mr Jenkins added that the bank hopes this success is an indication of things to come and pledged that they would continue to be an important part of local communities.
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