Banking Brilliance from Bendigo Bank
It’s not often that an organisation puts ‘community’ at its heart, particularly in the Banking and Finance Sector but, as Deb Caruso discovers, there are good reasons why Bendigo Bank has retained the title of the most trusted bank in Australia.
The Roy Morgan list of Australia’s most trusted brands for the quarter to June 2022 listed Bendigo Bank as the most trusted bank in the country, and one of the most trusted brands in Australia with a Net Promoter Score of 24.5; that’s 26.3 points higher than the average of the Australian banking sector.
It’s easy to see why with a business model that sees Community Bank branches give up to 80% of profits back to the community.
In fact, more than $21 million in funding was distributed to local community projects and initiatives across Australia in the 2020-21 financial year, with Queensland contributing more than $1.9 million to this milestone.
Bendigo’s Community Bank branches entered Australia’s banking scene in the late 1990s to introduce a new type of banking model – one focused on giving back to the communities that it serves. Today, there are 324 Community Bank branches across Australia, partnering with the fifth biggest Australian bank, Bendigo Adelaide Bank Ltd.
The Board of Sunshine Coast Community Financial Services Limited (SCCFSL) run Community Bank branches of Bendigo Bank at Cooroy, Tewantin and Marcoola and over the past 15 years, they have given back almost $2 million into the communities they serve.
The full-service banks offer home loans and savings as well as business banking, and with $630 million currently on its books, is well on the way to being a billion-dollar bank.
The recently-appointed Senior Branch Manager Melanie Jackson will be ably supported by incoming Chair Trish Radge, who takes over the reins from Rick Cooper. Rick will continue to serve on the Board and work with Trish and fellow Directors Elizabeth Reynolds, David Green, Guy Hamilton, Toby Bicknell and Louise McNeich.
In addition to being the Deputy Chair, Elizabeth is also Chair of the SCCFSL Sponsorship and Marketing Committee which is responsible for receiving and reviewing requests for funds and making recommendations to the Board. Branch Managers also distribute funds to worthy causes or individuals in their community.
“We allocate some of the Banks’ profit directly to the Branch Managers to support their immediate communities, while requests for larger donations are considered by the Sponsorship and Marketing Committee and allocated by the Board on its recommendation,” Elizabeth said.
“We like to look for hero projects and organisations to support.”
It’s a win-win situation – customers choose to bank with Bendigo Bank and the profits are returned to the community; the bigger the customer base, the bigger the opportunity for community contribution.
In the 2022 financial year, Branch Managers at Tewantin-Noosa and Cooroy gave back over $40,000 to the community including $4,000 to Cooloola-Noosa Life Education Program and $5000 to both Noosa Arts Theatre and Noosa Coast Guard; $4,000 to Noosa Community Garden and $3,000 to Tall Trees Art exhibition.
Other projects SCCFSL has supported includes the Men’s Prostate Lunch at Noosa Heads Surf Life Saving Club; the Inaugural Noosa Surf Club Swim Classic; providing new furniture to the resurrected Peregian Surf Club; Pomona’s King of the Mountain; and hero projects including partnering with Madills Noosa to supply the Red Frogs Sunshine Coast with a “Beaut Ute” to help youth workers create a safe environment during Schoolies Week and other events; and effectively saving Cooroy Community Hall with $50,000 for renovations and improvements.
SCCFSL Chair Trish Radge said people may not think that it mattered who they banked with, but it does.
“The more you bank with us, the more we can give back,” she said.
With a proven track record of making a difference, that’s something you can bank on.
Here’s some of the other ways Bendigo Community Bank supports the community:
Retail Pop-Up
Connect with existing and new customers and test your products with a prime position to promote and sell handmade products in the Tewantin-Noosa branch.
Community Space
Local businesses and community groups are welcome to meet and host small events in the Tewantin-Noosa Branch Boardroom between 9am and 5pm. The flexible space includes Wi-Fi, a projector, access to a kitchenette and tables and chairs. Stand up functions for up to 75 people can be hosted in the main branch.
Art Space
Dedicated art spaces in both the Tewantin-Noosa and Cooroy branches is a place for people to enjoy, relax and feel inspired by the works of local artists. Artist applications are accepted year-round, with gallery bookings between one and three months in duration.
Applications for funding, art space, retail pop-up, contact Colleen on bendigosunshinecoast@gmail.com
For meeting room bookings contact Tewantin-Noosa branch on 5440 5289
