Before proceeding to your grant application, please take the time to get to know a little bit about us.
Who is Bendigo & Adelaide Bank?
Bendigo & Adelaide Bank is the fifth largest retail bank in Australia with assets under management of more than $65.7 billion. It was established in 1858 as a building society operating on the Bendigo Goldfields in Victoria and has progressed since then through a series of mergers and acquisitions to what it is today, an Australian owned top 60 ASX listed company with in excess of 7,200 staff.
Who is Collie Community Bank?
The Collie Community Bank is a separately incorporated body with 350 local investors holding 430,000 shares. This share capital was required to fund the start-up of the bank in 2001. The Collie Community Bank is a ‘franchisee’ of Bendigo & Adelaide Bank.
Bendigo & Adelaide Bank provides all the banking infrastructure, support, and the banking license under which the Collie Community Bank operates. The total income generated by the Collie Community Bank through their day-to-day banking operations is then split on a 50/50 basis with its parent entity Bendigo & Adelaide Bank.
The Collie Community Bank’s 50% share of this total income is used to cover the following expenses: the Collie Branch staff salaries and superannuation, all local operating expenses, staff training, uniforms, utility bills, branch furnishings, income tax, dividends, and some specific banking related expenses.
The balance of this income after expenses then becomes its operating profit, it is this profit that provides the cash for all grants given back to the community by Collie Community Bank.
When the Collie Community Bank is asked to provide a grant to the local community, where does this cash come from?
All grants to the community are paid from profits generated by the Collie Community Bank.
Bendigo & Adelaide Bank do not contribute any part of their share of the income to the Collie community.
The customers and shareholders of Collie Community Bank provide the cash and there’s a good chance that someone you know will have helped to provide some of this cash (i.e. the people of Collie who bank with Collie Community Bank).
The Collie Community Bank may have only 30% of the banking business in Collie but on a regular basis, 100% of the Collie population has benefitted from its grants program.
None of our banking competitors put as much back into the town.
We can only support those people and organisations that support us.
Please consider helping our business to grow by opening an account now. It’s a win-win situation.
How much has the Collie Community Bank given back to the local community since 2001?
More than $7 million to date.