Banking On Successful Communities

The success of a business in a regional area is often intricately linked to the wellbeing of the neighbourhood it calls home.

With many banks reducing their physical presence in regional areas, Community Bank Sarina Bendigo Bank is still committed to a focus on connection, capacity building and direct community impact, thanks to its unique community banking model.

At the recent Sarina and District Community Financial Services Limited (SDCFSL) AGM, the company reported strong financial results for Community Bank Sarina for the 22-23 financial year, including an increase in profitability and customer numbers.

Charmaine Matsen, Branch Manager of Community Bank Sarina, said whilst other banks are reporting record profits, Community Bank Sarina customers know that a percentage of their bank’s profits are injected directly into their own community.

“We are attracting customers now from further afield - some with strong connections to our community - who have discovered the benefits of banking with a community bank and want to do business with a profit for purpose enterprise. They can see the direct results of our investments around them and how it can assist communities thrive and prosper,” she said.

“Due to an increase in customers, we’ve been able to strengthen our presence in the community, as well as deliver over $300,000 of investments locally this past financial year through scholarships, community grants, sponsorships, and donations.

“Supporting the community in this way enhances the livability of our region, going beyond traditional banking norms and redefining a bank’s role in fostering community and customer prosperity.”

Board Chair Karen May said the results of this year’s AGM shows Community Bank Sarina has ramped up its ongoing commitment to support a range of community organisations – many of which are volunteer run – with a focus on connection, diversity, and inclusion.

“This unique model of banking is predicated on being commercially viable yet community spirited. We employ local people, we purchase locally where possible and this all helps further build regional prosperity and capacity,” she said.

“These strong financial results mean we can continue to deliver to our customers, the community, and our shareholders, who were also able to receive a fully franked dividend of 13c per share this past financial year, which is a record return.”

“Our customers can bank on the fact that Community Bank Sarina has invested over $3.8 million since 2005 directly in community initiatives throughout the region, and that we’re here to stay.”

To find out more Community Bank Sarina’s results and community support during the 2022/23 financial year, view their annual report at https://bit.ly/sdcfslannualreport2023.

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