Good 360
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  | 

NFP Community Banking Celebrates 10th Anniversary


Thursday, 9th August 2012 at 10:32 am
Staff Reporter
Community Sector Banking - a specialist in Not for Profit banking service described as one of Australia’s largest social enterprises - is celebrating its tenth anniversary.

Thursday, 9th August 2012
at 10:32 am
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
NFP Community Banking Celebrates 10th Anniversary
Thursday, 9th August 2012 at 10:32 am

Community Sector Banking – a specialist in Not for Profit banking service described as one of Australia’s largest social enterprises – is celebrating its tenth anniversary.

The social enterprise banking service was launched on 29 July 2002 when Community 21 (a consortium of 20 Not for Profit organisations including Jobs Australia, St Luke’s and ACOSS) and the Bendigo Bank entered into a 50:50 joint venture.

“From day one we’ve worked to build financial capability in the community sector, to improve the sector’s access to capital. We’ve encouraged organisations to look after their own financial destiny and developed the tools to help,” the Chair of Community 21 and Community Sector Banking, David Thompson said.

“Community Sector Banking has partnered with some of the largest Not for Profit networks on social projects and to refine services.

“A diverse group of 20 Not for Profit organisations came together and formed Community 21 to build a way to reduce their reliance on governments and short-term grant funding and increase their security by pooling resources and borrowing expertise from the for-profit world,” Thompson said.

“Community 21 actively takes on an advocacy role and participates at Federal and International level in issues that have an impact on the Not for Profit sector, such as the taxation of unrelated business activities; how to make funding structure maximise social impact.”

“The economic capacity of our sector is now widely acknowledged. Community Sector Banking helps us in two ways; supporting us to use our resources strategically and developing financial products with us to assist the people and communities we work with,” Executive Director, Anglicare Australia, Kasy Chambers said.

“10 years ago there were few specialised options for Not for Profit organisations; the banking system was largely uninterested in catering to the unique circumstances of Not for Profits.

Apart from banking products, Community Sector Banking is also involved in projects that it says foster the Not for Profit sector.

“We’ve helped build over 1,100 social and affordable homes throughout Australia by providing finance and facilitating partnership arrangements. We’re a founding member of Social Enterprise Finance Australia, which assists social enterprises to become sustainable,” Thompson said.

“We’re working with Not for Profit organisations to provide microcredit and microenterprise loans for low income Australians excluded from mainstream banking. Our Not for Profit customers have nearly 8,000 salary benefit ‘b-packaged’ cards, assisting their staff to manage tax responsibilities efficiently and reduce finance team workload.”

Click here for further information.



FEATURED SUPPLIERS


Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

Yes we’re lawyers, but we do a lot more....

Moores

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

NFPs Receive Share of $200,000 in Funding to Tackle Family Violence

Luke Michael

Thursday, 19th October 2017 at 4:33 pm

Australian Organisations Score in the Top 10 Per Cent of B Corps Globally

Luke Michael

Monday, 18th September 2017 at 5:03 pm

Three Ways Faith Based NFPs Can Sure Up Sustainability

Andrew Cairns

Wednesday, 23rd August 2017 at 3:15 pm

About a Brand – The Leadership Battle for NFPs

John Carroll

Thursday, 6th July 2017 at 8:27 am

POPULAR

Red Cross Moves to Wage-Based Fundraising Model

Lina Caneva

Thursday, 16th November 2017 at 8:30 am

Concerns Raised Over New ACNC Board Appointments

Luke Michael

Monday, 20th November 2017 at 2:28 pm

New Same-Sex Marriage Bill Looks to Protect Faith-Based Charities

Luke Michael

Monday, 13th November 2017 at 5:25 pm

Adelaide at the Vanguard of Ending Street Homelessness Globally

Wendy Williams

Tuesday, 21st November 2017 at 8:43 am

Write a Reply or Comment

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


Good 360
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!