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

Help for NFP Property Investments


2 April 2012 at 4:54 pm
Staff Reporter
Community organisations may now be able to purchase their own property, and in turn strengthen their financial positions, following the announcement of a joint initiative between bankmecu, Foresters Community Finance and the Victorian Government.

Staff Reporter | 2 April 2012 at 4:54 pm


0 Comments


 Print
Help for NFP Property Investments
2 April 2012 at 4:54 pm

Community organisations may now be able to purchase their own property, and in turn strengthen their financial positions, following the announcement of a joint initiative between bankmecu, Foresters Community Finance and the Victorian Government.

Under the partnership, bankmecu says that Foresters will work with community organisations with support from the Victorian Government’s Office of the Community Sector to help them prepare to invest in property.

bankmecu says it will then work to arrange the finance they need to purchase a property when they are ready.

According to bankmecu’s managing director, Damien Walsh, the partnership cements a long-standing relationship between the organisations and will see the bank provide finance to community organisations ready to invest in property.

“Owning property assets instead of renting premises can help improve the financial sustainability of organisations that are working hard to achieve positive social outcomes for disadvantaged members of the community,” Walsh said.

“We believe in the power of bringing together groups of like minded people to achieve common goals – and responsible banking services can play an important role.”

bankmecu says that each year its Community Investment Program also invests up to 4 per cent of its after-tax profit generated from its more responsible approach to banking back into a range of community projects.

“Today we are also very pleased to announce a $40,000 investment in State Schools Relief, which will bring our investment in the program to $260,000 over the past seven years,” Walsh said.

“The State Schools Relief program helped more than 10,000 disadvantaged Victorian students last year alone, by providing them with new school uniforms and other attire they needed to start the school year.”

Of the partnership with Foresters, Walsh said bankmecu was “delighted” with the partnership.

“This is another way that bankmecu can help the community sector to grow in strength and security,” Walsh said.  



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

CFRE


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



YOU MAY ALSO LIKE

Habits of Aussie and New Zealand donors in 2020 revealed

Maggie Coggan

Monday, 21st September 2020 at 5:43 pm

Now or never – Time to fix fundraising

David Crosbie

Thursday, 17th September 2020 at 8:48 am

In it for the long haul

Maggie Coggan

Monday, 7th September 2020 at 5:49 pm

Governments propose new fundraising model to cut red tape

Luke Michael

Wednesday, 2nd September 2020 at 5:06 pm

pba inverse logo
Subscribe Twitter Facebook
×

We need your help.

Since the outbreak of COVID-19, Pro Bono Australia has seen a devastating fall in advertising and less people posting on our job board, which is how we fund our free news service. You can show us that you value the work we do by making a contribution.

 Make a contribution 

You have Successfully Subscribed!