Community Reward Account
Leading Credit Union Community CPS Australia (Community CPS) today (1 February) introduced an everyday banking offer - Community Reward Account - that supports local charities, community groups and not-for-profit organisations by donating a percentage of its average annual balance.
The scheme comes at no extra cost to the account holders, who still earn a competitive variable interest rate on their deposit. Each year Community CPS will donate valuable funds to organisations supported through the Community Reward Account, which will assist them to continue contributing to the wellbeing of local communities.
Members who open a Community Reward Account select the charity, community group or not-for-profit organisation they wish to support from a list of registered recipient organisations. If their favourite cause is not on the list they can encourage this organisation to speak to Community CPS about registering.
At the end of each financial year, Community CPS adds up the average balance held in all Community Reward Accounts linked to each registered organisation and donates up to 1.5 per cent of that balance to the organisation.
Community CPS Group general manager retail Peter Rutter said the account was yet another way of giving back to the community, providing a direct link between the members’ investment in the credit union and the organisation’s investment in the community.
“We recognise the positive role not-for-profit organisations such as local sporting clubs, schools, community service groups and charities play in the local communities in which we operate, and supporting these organisations is at the heart of who we are,” said Mr Rutter.
“The Community Reward Account is a competitive savings account offering flexible access methods that delivers benefits to our members while also supporting local communities. The higher the number of members who link their Community Reward Account to a registered organisation, the more funds can be raised for that organisation.
“The concept of the Community Reward Account comes from Wagga Mutual Credit Union, which is part of the Community CPS Australia Group, and was known as the ‘Community Sponsorship Account’. The account has been very successful, raising more than $1.1 million for the Wagga community since its inception in 2002, and we are pleased to make this account available to all our members.”
Heather Berry, Area Manager for Camp Quality South Australia, said the account would be another valuable channel through which Camp Quality could benefit from the generosity of the South Australian public and Community CPS. “Community CPS was an amazing sponsor for Camp Quality last year, raising in excess of $170,000 on a national level, $58,240 in sponsorship for SA and another $14,500 from their ‘Lunch for a Cause’,” said Ms Berry.
“These amazing donations help us to support children with cancer between the ages of 0 -18 years and their families through our fun therapy programs.“We know that the people of South Australia are extremely loyal, community-minded and very willing to support charitable causes such as ours. It would be wonderful to emulate the success the Community Reward Account has achieved in other states.
“The level of financial assistance given translates to an incredible amount of fun, hope and happiness for our families! At Camp Quality we believe that laughter is the best medicine,” said Ms Berry.www.communitycps.com.au . Applications will be assessed by the local management team to ensure a community benefit is delivered by the registering organisation, and will then be approved on that basis.
ABOUT THE COMMUNITY CPS AUSTRALIA GROUP