Bendigo Bank and the Community Company are each entitled to agreed proportions of the revenue of the local branch. Any net profit realised by the Community Company (after paying branch running costs) is available for reinvestment back into the local community by way of sponsorships, donations and grants and dividends to its shareholders.
Community Bank® branches which capture a significant market share of local banking activity are able to return a dividend to investors yet still provide tens and even hundred of thousands of dollars a year to local projects.
Profits returned to the community by Ku-ring-gai Financial Services Limited on behalf of the Turramurra Community Bank® Branch, whilst focused on Turramurra, are distributed throughout Ku-ring-gai. The Lindfield Community Bank® Branch will be operated as a separate business unit and it is expected that the directors will apply the profits of that Branch with a similar local focus.
More information on the Community Bank® model is available on the Bendigo Bank website on the Building Better Communities page.