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$200,000 in Grants to Reduce Homelessness


26 April 2016 at 8:50 am
Staff Reporter
Australia’s Not for Profit banking specialists, Community Sector Banking, have doubled the size of their Social Investment Grants Program thanks to their Social Investment Deposit Account.

Staff Reporter | 26 April 2016 at 8:50 am


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$200,000 in Grants to Reduce Homelessness
26 April 2016 at 8:50 am

Australia’s Not for Profit banking specialists, Community Sector Banking, have doubled the size of their Social Investment Grants Program thanks to their Social Investment Deposit Account.

A total grant pool of $200,000 will be available for Not for Profits to apply for from 2 May 2016 to reduce homelessness.

Now in its third year, the grants program highlights Community Sector Banking’s commitment to improving social outcomes.

Not for Profits delivering projects or programs to reduce homelessness are eligible to apply for grants across three categories, including a special category available for organisations interested in crowdfunding.

Community Sector Banking directly funds the Grants Program, from an allocated 50 per cent of net profits earned on Social Investment Deposit Accounts (SIDA) and contributions from committed Social Investment Deposit Account holders.

The Social Investment Deposit Account is a simple deposit account aimed at community minded individuals and organisations looking to contribute to social change. Account holders can choose to donate 50 per cent or 100 per cent of the interest earned on their account towards the grants program, showing the power that everyday banking can have on the community.

Certified by the Responsible Investment Association Australasia (RIAA) this account gives community banks a great opportunity to start conversations and strengthen local communities.

“We’re enormously proud of what the Social Investment Deposit Account has helped achieve,” Amanda Watt from Community Sector Banking said.

“This product was developed to help make a difference and it is clearly having an impact.

“On any given night in Australia, one in 200 people will experience homelessness. Thanks to this product, people experiencing homelessness will receive greater support.”

The Social Investment Grants are available to all Not for Profits operating in Australia, with projects aimed at reducing homelessness. Applications are open from 2 May and close 30 May 2016.

For more information, visit www.communitysectorbanking.com.au/grants



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