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COMMUNITY SECTOR BANKING: Creating Solutions with the Community Sector - Advertorial


26 March 2007 at 12:23 pm
Staff Reporter
Community Sector Banking (CSB) is the result of an innovative joint venture between 20 leading Not for Profit organisations and Bendigo Bank. CSB is the only banking service in Australia dedicated to the community sector.

Staff Reporter | 26 March 2007 at 12:23 pm


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COMMUNITY SECTOR BANKING: Creating Solutions with the Community Sector - Advertorial
26 March 2007 at 12:23 pm

Community Sector Banking (CSB) is the result of an innovative joint venture between 20 leading Not for Profit organisations and Bendigo Bank. CSB is the only banking service in Australia dedicated to the community sector.

CSB has developed products and services that are tailored to the banking needs of Not for Profit and community organisations and their employees. These include: Internet banking; interest bearing cheque accounts; transaction accounts; term deposits; loans; leasing; financial planning and merchant facilities.

Most importantly, CSB is focussed on enhancing the capacity of the community sector to deliver increased social outcomes. CSB creates opportunities for community organisations to gain greater control over capital and, in turn, contribute to the social development of Australia.

CSB reinvests banking profits into the community sector and collaborates with Not for Profit and commercial organisations to develop innovative capacity-building solutions to the challenges that face the sector.

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 Not for Profit sector in Australia is evidenced by the range of financial and non-financial capacity-building initiatives that have already been implemented and that are currently under development.

Those already implemented include:

• Micro-finance facility to assist people with low incomes to access credit with low risk to borrowers
• Affordable housing solutions that addresses the demand for home ownership through a rent-buy model
• Child care solutions that deliver enhanced facilities for a number of communities
• Funds management facilities
• Telco/IT connectivity solutions
• Cash management and term deposit facilities that provide attractive returns
• Salary Benefit Card that provides not-for-profit employers with an easy way to provide competitive salary packaging and employees with a mechanism to manage their finances
• Mechanism for organisations with DGR tax status to optimise benefits from Gift Fund accounts

Initiatives under development include:

• Economic development of Indigenous communities
• Specialist insurance facilities for not-for-profit organisations
• Funded lifetime saving initiative for children as a society building investment
• Initiative to enable organisations and individuals to off-set the environmental carbon impact for all types of travel
• Renewable energy facilities
• Transport solutions for local communities and people with disabilities
• Specialised lending facilities for people with disabilities and their carers

CSB acknowledges that to achieve its goals of service provision and capacity-building, it must engage fully with the community sector and continue to develop meaningful partnerships. It is therefore reliant on receiving business support and feedback from the sector. The continued growth of CSB will result in further contributions to the development of capacity-building solutions that will, in turn, contribute positively to the social capital of Australia. Increased sector support will accelerate this process.

There are many benefits to be gained from a relationship with CSB. To find out more about CSB please call 1300 550 603; email CustomerService@csbanking.com.au or visit its website at: www.csbanking.com.au

Community Sector Innovation (CSI) is the division of CSB that develops its capacity building solutions. CSI can be contacted by calling (02) 4285 4877 or by emailing admin@csinnovation.com.au



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