Profit for purpose business model pays dividends for community investment

AT the recent AGM of Sarina and District Community Financial Services Limited, which operates Community Bank Sarina Bendigo Bank, announcements on the level of community investment set the bar for creating positive impact and feeding into regional prosperity

During the 2022/23 financial year, the community continued to support Community Bank Sarina – a profit for purpose enterprise, with customer numbers increased, profitable growth and a strong business result enabling significant investments back into community groups and organisations.

The strong financial results, including an increase in profitability, also provided for a fully franked dividend of 13c per share to the company’s local shareholders, which is a record return.

Last financial year, the branch team focused on connecting with and supporting customers, assisting them on the path to their financial goals, including first home loans, first car or next home, and wealth management. This included not just local customers in Sarina and Mackay, but also residents in our regional communities and further afield who want to do their banking with a profit for purpose enterprise.

In a bid to enhance liveability within the region and as part of their ongoing commitment to maintain a physical presence in the community, Community Bank Sarina ramped up its support to a range of community organisations – many of which are volunteer run – to focus on connection, diversity and inclusion.

The unique business model of Community Bank Sarina focusses on profit for purpose which underpins this community investment.

“We have supported our community directly to the tune of $300,269 through community grants, sponsorships and activations, including signage, and charitable donations, during the past 12 months,” said Community Bank Sarina board chair, Karen May.

“Since opening the branch in 2005, and building on last year’s investment we have now injected a total of $3.8 million back into the community - supporting organisations and groups with a broad range of projects and initiatives to enhance liveability and leave a legacy for future generations.

“Whether it be supporting our Sarina Army cadets, the local community kindergarten or our P&Cs with community grants, or sponsoring a diverse range of activities, this community investment is about enabling our community, including its many volunteers, and the flow on effect that comes from our direct investment.

“Youth education and health and wellbeing were a primary focus for this financial year, with our major sponsorships including Sarina Life Saving Club’s Cruisin’ the Coast Sarina Beach Fun Run to the Transition to High School Program operated by Sarina and District Schools Chaplaincy, and our scholarships programs once again at both Sarina State High School and CQUniversity.

“Recognising the importance of sun safety, a number of organisations, including P&Cs, benefited from our Marquee Sponsorship Program, which provides a dual branded marquee for shade and sun protection, and other promotional signage to use at events.

“We would like to thank our customers for choosing to bank with Community Bank Sarina, as without you, we wouldn’t be able to provide the level of community investment and positively impact our community at such a high standard.”

To find out more Community Bank Sarina’s results and community support during the 2022/23 financial year, view their annual report at https://bit.ly/sdcfslannualreport2023.