Five million reasons to celebrate

by By Jaime Noye, Community Liaison, Community Bank Warrandyte
4th December 2023

WHEN THE GOING got tough, and the last bank left town, the Warrandyte locals of the early 2000s made a plan to start their own bank — and I don’t think they could have imagined that just two decades later it would result in more than $5 million invested back into the community.
This year, Community Bank Warrandyte celebrates 20 years of banking in Warrandyte; that is, 20 years of building an institution that has become a consistent funding source for our community.
While 20 years is a milestone on its own, recently, at our annual Grants and Presentation night held at the Warrandyte Sporting Club in November, Community Bank Warrandyte committed another $400,000 to local projects and initiatives, bringing the total contributions to over $5M, since the bank has been in operation.
Looking back on history, there have been some significant impacts over the 20 years, and here is how we have given back to the communities of Warrandyte, Wonga Park, and Park Orchards:

  • Arts — $520,262
  • CFAs — $574,321
  • Charities — $179,982
  • Community defibrillators — $64,812
  • Community services — $270,891
  • Education — $455,968
  • Environment — $222,654
  • Other — &890,495
  • Scholarships — $140,595
  • Seniors — $158,775
  • Sporting clubs — $1,582,269
  • Youth — $168,025

Chair of Community Bank Warrandyte, Aaron Farr, explains that banking with your local, community bank is a win for the whole community.
“Our profits come from accounts opened at the local branch.
“Then we return up to 80 per cent of these profits to the community through our grants and sponsorship program.
“It’s a win-win for everyone”.
This social enterprise model of banking not only benefits the community with funding support but keeps local retail banking in town, together with staff that you get to know by popping into the branch whenever you like.
As 2023 draws to a close, we reflect on some incredible achievements from our community investment.
This year alone, we have helped create new classrooms, playgrounds, saved heritage buildings, improved training facilities for our CFAs, provided new sporting uniforms and equipment, and continued the support of local institutions like the Festival, Art Show, and Pottery Expo — not to mention the new initiative of Pinking Up Warrandyte.
From our volunteer Board of Directors and staff, Community Bank Warrandyte wishes all our customers and community partners a Merry Christmas and a safe and Happy New Year.