Community Bank

By: EconomyWatch Content   Date: 30 October 2009

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Launched in 1998, Community Bank is a result of the partnership of Bendigo Bank with the Rupanyup and Minyip communities. The Community Bank is based on an innovative franchise program that was initiated by Bendigo Bank when its branches faced mass closure in rural areas. According to the franchise program, the branches of Community Bank areowned bylocal communities, with Bendigo and Adelaide Bank providing the banking license, a whole range of banking products, staff training and continued support.

Community Bank: Journey Till 2009

The concept of Community Bank was rapidly adopted by rural communities, which were eagerly looking for a sustainable solution to branch banking. Although the program was initially meant for rural areas, it rapidly spread to metropolitan communities as well. The initiative has been immensely successful since then, with more than $30.4 million of profits reinvested into community projects by 2009.

The success of Community Bank is reflected in the following statistics:

  • The number of Community Bank branches doubled from 2005 to 2009.

  • Customer savings in Community Bank tripled to more than $14.9 billion over the four-year period.

  • More than 60,000 local shareholders received $10 million in dividends till 2009.

  • There are over 230 branches of Community Bank across Australia.  

Community Bank: Contributions

Community Bank is based on the concept of sharing responsibilities and rewards between the community and the bank. This concept is being widely followed, with communities across Australia providing the startup capital for their respective branch and making them successful. In return, the communities are reaping rewards that aren’t just limited to banking. 

Community Bank branches are making a difference in the lives of people by helping improve the economic and social prospects of local communities through the following acts:

  • Building a community hall

  • Sponsoring an art prize

  • Providing employment

Community Bank: Services

Services offered by Community Bank are:

  • Personal savings and investments

  • Business solutions

  • Commercial finance, leasing, financial planning

  • Superannuation

  • Internet and phone banking

  • Video conferencing

Community Bank also offers full Business Banking services such as:

  • Commercial Lending

  • Leasing

  • Financial Planning


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