- Beyond Bank Blog - https://www.beyondbank.com.au/blog -

7 benefits of giving back to the community through Beyond Bank

We are committed to building stronger communities. By putting the interests of their customers and community first, we can offer many benefits and rewards, such as lower lending rates, higher investment rates, lower fees and charges, and community support.

Here are seven benefits of giving back to the community through us:

1. We give our profits back to our customers and community.
We are a customer owned bank and we believe in prosperity for the many, not just the few. This idea has always been part of our guiding ethos. We believe in fairness – not greed – and we use our profits to benefit our customers and communities.

Beyond Bank is 100% owned by our customers. These customers are sometimes called members, and each customer/member has equal constitutional power. Customer owned banks do not serve sharemarket investors and do not pay dividends to shareholders. Profits are reinvested into the customer owned bank and are only used to benefit customers and their communities.

2. We offer a special transaction account for not-for-profit organisations.
Our Community Account [1] is a special transaction account that’s only offered to not-for-profit community organisations. It offers unlimited, free withdrawals and deposits; no account-keeping fee; and other benefits.

3. We support community partnerships through the Beyond Bank Foundation.
The Beyond Bank Foundation [2] provides financial grants to a wide range of community organisations. We focus on supporting not-for-profit organisations that work in health, education and the environment. Anyone is welcome to join us in supporting local community initiatives by donating to the Beyond Bank Foundation [2].

4. We support community organisations through our innovative Community Rewards Account.
Our Community Rewards Account [3]is a special way for individuals and businesses to give to not-for-profit organisations. On their behalf, and at no cost to them, every year we give up to 1.5% of our customer’s average annual Community Reward Account balance to their customer’s charity or community organisation of choice. So the more their customer saves, the more we give back to the community. It’s a great incentive for customers to save even harder.

5. We offer discount packages to people who work in the community sector.
We offer discount packages [4] to the employees and volunteers of not-for-profit organisations. This is just another way that we give back to the community.

6. You can feel good about banking with us.
The latest independent research shows the customer-owned banking sector leads the market for customer satisfaction. Roy Morgan Research analysis conducted in January 2013 found mutual banks have a customer satisfaction ranking of 92.5% while, collectively, the major four banks lag behind on 81.1%.

7. You can volunteer through us and connect with your community.
We host this blog that lists all the latest community volunteer vacancies [5] in your area. Volunteering is one of the best ways to make a real difference in your community.

If you have any questions about giving back to the community with Beyond Bank, feel free to leave a comment below.

^Peter – General Manager, Community Development