Close Search
 
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  | 

Community Banking with a Difference


25 September 2000 at 12:09 pm
Staff Reporter
While ‘ethical funds’ and community banking have been gaining momentum in recent years there’s a new player in the market trying to create a niche specialising in lending money to the Not for Profit sector.…

Staff Reporter | 25 September 2000 at 12:09 pm


0 Comments


 Print
Community Banking with a Difference
25 September 2000 at 12:09 pm

While ‘ethical funds’ and community banking have been gaining momentum in recent years there’s a new player in the market trying to create a niche specialising in lending money to the Not for Profit sector.

Sirius Community Finance is a unit of the Endeavour Credit Unit that says its offering an alternative to mainstream banking.

According to the CEO, Duncan Power, the vital difference is the transparency in its investment portfolio.

‘Sirius savings and term deposit account holders may request a preferred field of ethical activity where their monies can be lent. These ‘directed’ savings are used for socially constructive and environmentally friendly purposes.’

Power says special term deposit accounts have been set up with charity partners such as Earth Share, Opportunity International, Mission Australia and Save the Children Australia to enable you to donate a percentage of your interest to charity.

Power says Sirius is unique in the market by offering loans to diverse groups within the Not for Profit sector.

Loan applications are considered from organisations and individuals throughout Australia that are undertaking projects regarded to be socially, environmentally and culturally positive as well as meeting viable and sustainable criteria.

Power says some of the applications have covered projects such as buying property, a school building project, and an overdraft facility.

Sirius will have a web site up and running in the first week of October. Check it out at www.sirius.org.au.



PB Careers
Get your biweekly dose of news, opinion and analysis to keep you up to date with what’s happening and why it matters for you, sent every Tuesday and Thursday morning.

Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers? Get in touch at news@probonoaustralia.com.au or download our contributor guidelines.

Advertisement

Virtual Congress - CPA Australia

Tags : Finance,

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Australians set to make their money matter

Maggie Coggan

Monday, 26th October 2020 at 8:15 pm

Opening up about mental health at work

Mike Davis

Monday, 26th October 2020 at 6:47 pm

New social impact bond focuses on disengaged students

Luke Michael

Monday, 26th October 2020 at 6:11 pm

Disappointing budgets, casualised employment and take me to your board

Contributor

Monday, 26th October 2020 at 6:04 pm

pba inverse logo
Subscribe Twitter Facebook
×