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Last update : March 2008
Background
Community Sector Banking (CSB) was established in 2002 as a form of collective action by not-for-profit organisations to enhance the capacity of the Community Sector to better achieve its objectives. A new way was needed to harness and mobilise the capital managed by Community Sector organisations to develop capacity within the Sector.
Structure & Activities
As an innovative joint venture between Bendigo Bank and 20 leading not-for-profit organisations, CSB is the only banking service in Australia dedicated to the Community Sector.
Most importantly, in addition to providing a tailored banking service, CSB facilitates the development of broader and more effective community, government and business partnerships in order to support the broader objectives of its stakeholders. That is, to develop and deliver initiatives that stimulate social change and that contribute to the social development of Australia.
CSB reinvests banking profits into the Community Sector and through its collaboration with not-for-profit and commercial organisations develops innovative capacity-building solutions to the challenges that face the Sector.
CSB, therefore, performs a number of roles:
- Agent for social change
- Aggregator of demand
- Innovator
- Facilitator
- Collaborator
- Solutions provider
- CSB also has links with international social banking organisations and contributes to the development of new approaches to harness and enhance social investment worldwide.
The commitment of CSB to the development and enhancement of the Community
Sector in Australia is evidenced by the range of capacity-building
initiatives that it has developed.
These include:
- Micro-finance facility to assist people with low incomes to access credit - with low risk to borrowers
- Affordable housing solutions that address the demand for home ownership through a rent-buy model
- Social and economic development of Indigenous communities
- Funded lifetime saving initiative for children as a society-building investment
- Child care solutions that deliver enhanced community facilities
- Funds management services
- Specialist insurance products for not-for-profit organisations
- Telco/IT connectivity solutions
- Cash management and term deposit facilities that provide attractive returns
- Salary Benefit Card that simplifies the management of salary packaged fringe benefits for organisations and their employees
- Mechanism for organisations with Deductible Gift Recipient (DGR) tax status to optimise benefits from Gift Fund accounts
CSB is not like a traditional branch. Customers transacting with CSB do so
predominantly via Bendigo e-banking and/or Bendigo Phone banking (includes
online applications). However, traditional deposits, withdrawals and loan
inquiries can also be completed at any one of Bendigo Bank's extensive
range of company owned and /or Community BankŪ branches.
