Local not-for-profit organisations to cash in on new bank account
Announcement posted by United Community 15 Feb 2012
Local not-for-profit organisations to cash in on new bank account Leading credit union Community CPS Australia – operating as United Community in
Western Australia - today introduced an everyday banking offer, the Community Reward Account, that supports local charities and not-for-profit organisations by donating a percentage of its average annual balance. The scheme comes at no extra cost to the account holder, who still earns a
competitive variable interest rate on their deposit. Each year, United Community 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 non-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 United Community about registering.
At the end of each financial year the credit union 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.
United Community state manager Michelle Coelho 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, school, community service groups and charities play in local communities in which we operate, and supporting these not-for-profit and community organisations is at the heart of who we are,” said Mrs Coelho.
“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.”
David Gribble, chief executive officer of the Constable Care Child Safety Foundation, said the account would deliver great benefits to the charity and many other not-for-profit organisations that register as recipients.
“As a charitable organisation we rely on financial donations to do our work, and the Community Reward Account would offer an additional income stream to our organisation,” said Mr Gribble.
“I strongly believe that the account’s success in Wagga Wagga can be replicated here with the support of our community. I can only encourage people to consider the Community Reward Account as an alternative to their existing transaction account – supporting charity has never been easier.”
Organisations interested in being listed as recipient organisations can obtain a registration form at any United Community branch or online www.unitedcommunity.com.au. Applications will be assessed by the local management team to ensure a community benefit is delivered, and will then be
approved on that basis.
ABOUT THE COMMUNITY CPS AUSTRALIA GROUP
Community CPS Australia is a two-time winner of Money Magazine’s Australian Credit Union of the
Year Award. With more than 185,000 members, Community CPS employs 585 staff across branches
in South Australia, the Australian Capital Territory and operates as Wagga Mutual Credit Union in
Wagga Wagga, Companion Credit Union in the Hunter Valley and United Community in Western
Australia. Community CPS Australia is now one of the country’s leading credit unions with assets
under management approaching $4 billion. For more information visit www.communitycps.com.au
Western Australia - today introduced an everyday banking offer, the Community Reward Account, that supports local charities and not-for-profit organisations by donating a percentage of its average annual balance. The scheme comes at no extra cost to the account holder, who still earns a
competitive variable interest rate on their deposit. Each year, United Community 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 non-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 United Community about registering.
At the end of each financial year the credit union 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.
United Community state manager Michelle Coelho 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, school, community service groups and charities play in local communities in which we operate, and supporting these not-for-profit and community organisations is at the heart of who we are,” said Mrs Coelho.
“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.”
David Gribble, chief executive officer of the Constable Care Child Safety Foundation, said the account would deliver great benefits to the charity and many other not-for-profit organisations that register as recipients.
“As a charitable organisation we rely on financial donations to do our work, and the Community Reward Account would offer an additional income stream to our organisation,” said Mr Gribble.
“I strongly believe that the account’s success in Wagga Wagga can be replicated here with the support of our community. I can only encourage people to consider the Community Reward Account as an alternative to their existing transaction account – supporting charity has never been easier.”
Organisations interested in being listed as recipient organisations can obtain a registration form at any United Community branch or online www.unitedcommunity.com.au. Applications will be assessed by the local management team to ensure a community benefit is delivered, and will then be
approved on that basis.
ABOUT THE COMMUNITY CPS AUSTRALIA GROUP
Community CPS Australia is a two-time winner of Money Magazine’s Australian Credit Union of the
Year Award. With more than 185,000 members, Community CPS employs 585 staff across branches
in South Australia, the Australian Capital Territory and operates as Wagga Mutual Credit Union in
Wagga Wagga, Companion Credit Union in the Hunter Valley and United Community in Western
Australia. Community CPS Australia is now one of the country’s leading credit unions with assets
under management approaching $4 billion. For more information visit www.communitycps.com.au