Deakin University Community Bank®
In an Australian first, Deakin University and Bendigo and Adelaide Bank have partnered to create Deakin University Community Bank®, with profits being returned to the Deakin community.
Celebrating the first 100 Days of Deakin University Community Bank
Deakin University Vice Chancellor, Professor Jane den Hollander AO, discusses some of the outstanding successes of the Deakin University Community Bank over its first 100 days.
Deakin University and Bendigo Bank
In 2015, Deakin University and the Bendigo Bank agreed to explore opportunities to collaborate and identify:
- activities of mutual interest
- opportunities to undertake collaborative activities for promotion, growth and development of each other's respective enterprise.
Deakin and the Bank agreed to work together towards:
- developing partnerships in regional centres to develop a Regional Community Education and Skills Plan (Western Riverina 'Grow our own' project)
- partnering on digital engagement/innovation opportunities
- the development of a community bank at Deakin University (Deakin University Community Bank®)
- developing a joint regional research program to identify and support regional Victorian and southern NSW communities, and
- establishing a jointly funded regional scholarship program (Bendigo Bank Community Scholarships).
Australia's first university bank
What is Community Bank®?
Bendigo Bank’s Community Bank® branches provide communities with more than just banking services – they:
- deliver employment opportunities for local people
- keep local capital in the community
- are a local investment option for shareholders
- provide a source of revenue for important community projects determined by the local community.
Under Community Bank®, Deakin bears some of the costs of the bank's operations in the area. In doing so, Deakin receives a share in the profits, which will go towards programs and projects that give back to the students and staff of the University.
This collaboration stems from Deakin’s mission to constantly improve the experience we provide to the communities we serve, and to build external partnerships that add value to all involved, both socially and financially.
Deakin University Vice-Chancellor
How does it work?
Deakin staff, students and alumni access special offers and, by choosing to bank with Bendigo Bank through the Deakin University Community Bank®, they’ll be contributing to its profits. These profits could, for example, fund:
- scholarships to support young people pursuing their dreams
- grants to help our researchers become leaders in their field
- sustainable infrastructure projects to make Deakin an even better place to work and study
- financial support for clubs, societies and community-building activities.
Deakin University will establish a strategic advisory board that is representative of the University community (staff, students and alumni) who will make decisions on distribution of profits.
The Melbourne Burwood Campus will have a Customer Hub and an ATM. The Geelong Waterfront and Waurn Ponds campuses will have one ATM each. Customers can also visit any Bendigo Bank branch.
How to get involved
If you’re a Deakin student or staff member, head to the Bendigo Bank website for more details.