Bendigo Bank is celebrating 25 years of its unique model of community owned and operated banking in Australia.
The internationally acclaimed Community Banking model, originally designed to empower communities at risk of losing face-to-face banking services, has grown to a network of more than 300 branches nationally with $20 billion in loans and $31.3 billion in deposits.
Founded in 1998 with branches in Rupanyup and Minyip, the profit-with-a-purpose model sees a majority of the profits generated by each independently owned and operated Community Bank directed back into the community.
Community Bank Sarina Board Chair Karen May thanked the Bank’s customers for their support, its team members for delivering quality service, local shareholders for backing their community and all the passionate locally based directors for their hard work and dedication.
“We would like to congratulate Bendigo Bank and Community Bank Rupanyup and Minyip on their 25th anniversary,” she said.
“The important steps they took made it possible for communities like ours and many others to take charge of our future.”
Community Bank Sarina opened in 2005, building on the success of the model.
“Community Bank Sarina has returned $3.4 million in sponsorships and grants to the community,” Ms May said.
“These contributions have supported initiatives such as the Cruisin’ the Coast Sarina Beach Fun Run, QCWA Sarina and the Sarina Cricket Association.”
Bendigo Bank and its community partners will mark the anniversary with celebrations at Community Banks around Australia.
Cruisin’ the Coast Sarina Beach Fun Runis one of many local initiatives supported by Community Bank Sarina. Photo credit: Sam Gillespie
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