The joint venture between Bendigo Bank and the Community 21 consortium announced that its 2018 Social Investments Grant Program will increase by $100,000 this year, providing applicants with a grant pool totalling $300,000.
CEO of Community Sector Banking Andrew Cairns said that the larger pool came off the back of increased demand and would help address the growing need for support services.
“We received an overwhelming number of applications to last year’s program, highlighting the huge need in the community and the sector for addressing these issues,” Mr Cairns said.
“We’re proud to be continuing and increasing our support.”
The Social Investments Grant Program enables not-for-profits (NFPs) to apply for grants of either $25,000 or $50,000 to help “build resilience and capability in people experiencing homelessness or domestic abuse”.
“We recognised that homelessness and domestic abuse remain the greatest crises Australian communities currently face and that long-term support and solutions are key to properly address them,” Mr Cairns said.
The CEO of the banking service provider also noted that funding for the program has continued to increase, claiming that it’s a testament to the positive contribution that the banking sector can make in the community.
“The impressive growth in our annual Social Investment Grant funding pool speaks to the strength of the grants program, which is financed by contributions from Social Investment Deposit Account holders, along with 50 per cent of our net profits from that product,” the CEO continued.
“It’s a fantastic example of the power for good that everyday banking can have in strengthening not-for-profits, and in turn, communities that benefit from their services.”
Grant applications open on 1 May and close at 5pm on 31 May.
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Charbel Kadib is the news editor on the mortgages titles at Momentum Media.
Before joining the team in 2017, Charbel completed internships with public relations agency Fifty Acres, and the Department of Communications and the Arts.