Community banking: it鈥檚 not scary
ADVERTORIAL
The word 鈥榖ank鈥� often scares people or turns them away from reading any further. The word 鈥榗ommunity鈥� on the other hand conjures up those good feelings of helping others and doing good.
Community Bank is the vehicle devised by Bendigo Bank that provides the funds to do good in the community.
The Prahran Market branch of Bendigo Bank is part of the Windsor Community Bank franchise that opened in 2002. In that time this business has contributed more than $500,000 to the community. In next financial year we have budgeted a further $120,000 to be invested in the form of grants and sponsorship.
How is this possible? It鈥檚 simple, you operate a bank account with a bank, don鈥檛 you? We provide banking products just like any other bank, and, yes, they are competitive. If you did your banking with us, profits from that banking are distributed to the community. As part of our franchise agreement with Bendigo Bank, 80 percent of profits are to be distributed to the community. Our shareholders, 220 local people, can only receive a maximum of 20 percent of profits. Over the past three years, that has averaged at 5 percent ROI.
All in all, this is a great model that delivers great outcomes for our community. There are now more than 250 Community Bank庐 branches around Australia, delivering similar outcomes. All you have to do to be a part of this growing community project is call into the branch at Prahran Market or Windsor and bring over your banking. Not only will you feel good about helping your community, but you will experience how much better banking with the Bendigo really is.
If you are thinking, I wonder how secure these guys are? Worry no more, Bendigo Bank has recently had its bank鈥檚 credit rating upgraded by Fitch Ratings Agency from BBB+ to A-.
This announcement means that Bendigo Bank is the first Australian bank 鈥� and one of the very few banks in the world 鈥� to receive such an upgrade since the GFC.
Do something good for your community today. Call in and see us at Prahran Market 鈥� you won鈥檛 be disappointed.
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