Make Your NFP dollar Work Harder and Go Further - Westpac's Investment Guide
Thursday, 4th August 2011 at 1:22 pm
Sponsored Article | Over 1,000 organisations have benefited so far from Westpac Social Sector Banking Series.
Westpac understands Not for Profit organisations’ social mission makes it all the more important to squeeze every ounce of value out of every dollar raised.
Westpac also understands that Not for Profits and community groups need to make sure any spare cash is put to work as hard as possible in a way most likely to maximise the funds they have.
The free investment guide, which is the third in a series, aims to help Not for Profits understand how their organisation might consider pursuing investments and what their options might be.
It provides valuable information on the different investment options available, the risks involved with each option and how they can use their new found knowledge to increase their funds.
The guide has been developed in conjunction with Our Community and is designed to help Not for Profit organisations make smart and informed choices when investing money.
Julienne Price, Head of Westpac Social Sector Banking, says understanding the do’s and don’ts of an investment strategy is essential for any Not for Profit organisation, especially when it could mean finding extra funds to support your cause outside of donors.
Price says that by recognising the role that investments have in a Not for Profit organisation, they will be more informed when making financial decisions.
Denis Moriarty, Our Community Managing Director, adds that the series of guides is just one of the many ways Westpac and Our Community are working together to upskill those who oversee the finances of community groups across Australia.
Moriarty says they are delighted to be working with Westpac to revolutionise banking and the way financial literacy is viewed in the community sector.
He says from customised banking products to financial literacy and awards programs, Westpac are fully committed to ensuring the financial wellbeing of community groups across the country is in good hands.
The series of guides was developed when Westpac Social Sector Banking identified a serious issue that financial guidance was not readily available to the 600,000 community groups and Not for Profit organisations in Australia.
The solution offered through the series of guides provides all the details, tips and information that is required to run organisations more efficiently.
The other guides published to-date includes one tailored for the role of the community treasurers and another for community board members.
Both are available at www.westpac.com.au/socialsectorbanking.
To-date, over 30,000 guides have been distributed around the country to Not for Profit organisations who are seeking an extra bit of financial advice that could not only help them run more efficiently, but could also save them money.
About Social Sector Banking
In 2008, Westpac became the first bank to introduce a dedicated Social Sector Banking team – 100 per cent focused on servicing community and Not for Profit organisations. Aligning with the bank’s core values of social responsibility and community, the Westpac Social Sector Banking team understands that community organisations need more than just a bank account – they need people who care about their cause.
With hands-on assistance to providing financial solutions, Westpac Social Sector Banking is making a tangible difference to the way NFPs operate, establishing better banking habits that allow them to be more profitable. From fee-free transactional accounts and prepaid cards that provide members with easy access to funds, to innovative systems such as PayWay, that provides a hassle-free secure online payment collection system, clients are able to manage their finances more effectively.
Westpac’s sense of social responsibility is at the heart of all principles and embedded into the company’s ethos. Westpac encourages other organisations to be socially conscious through financially supporting not-for-profits who aim to create social enterprises in disadvantaged communities through the Westpac Foundation. They also do this through encouraging employee donations to charities by matching every dollar for dollar. Since 1998, approximately 1,500 Australian-based charities have received $26.5 million from employees and the Westpac Group.
So, whatever your organisation is striving to achieve – the Westpac Social Sector Banking team is here to help you on your path. Visit www.westpac.com.au/socialsectorbanking to find out how they can assist you.