Lisa Chesters (Bendigo, Australian Labor Party) Share this | Link to this | Hansard source

There is an alternative to the big four, than banking with the big four banks. I speak about the fantastic network of Bendigo Bank Community Bank branches. They are very different to our commercial banks. They have a community-run board. Also, profits made by these banks are invested straight back into the community. It is something that we are very proud of in the Bendigo network. Established in the nineties, there are now 313 of these Community Bank branches around Australia. They have invested $165 million back into our communities and into many of our communities most in need of support.

In my own electorate of Bendigo, the Heathcote & District Community Bank branch of the Bendigo Bank and the Maldon and district financial services Community Bank branch have invested significantly. In fact, 138 projects have been supported and close to $250,000 just last financial year alone. This is just a demonstration that there is another way to do banking. There are opportunities out there to support Community Bank branches. They, basically, encourage people to bank locally to ensure that profits remain local. I know that from a number of the sporting clubs, Landcare groups and schools. They would be lost without this critical investment. This is how we can be supporting our communities, and I congratulate the Bendigo Bank for this initiative.