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Non-major bank to donate $100k for flood victims

Further financial assistance for flood-hit communities across Queensland and NSW has been confirmed, with Heritage Bank announcing a six-figure contribution.

Heritage Bank (Heritage) has committed to supporting those affected by the floods throughout northern NSW and South-East Queensland, following its confirmation of a $100,000 donation to charity distributor GIVIT. 

According to the non-major bank, the donation will be provided in tandem with its philanthropic partner, the Heritage Bank Charitable Foundation, and will be used to support the GIVIT Storm and Flooding Appeal. 

Heritage has also stated it is accepting in-branch and online donations from its customers until 31 March, and that the Heritage Bank Charitable Foundation will be independently providing an additional $5,000 to GIVIT. 

Heritage Bank chief executive Peter Lock commented that supporting communities is a key tenet to the non-major bank’s identity.  

“We’ve all seen the devastation caused by the recent flood events,” Mr Lock said. 

“It’s crucial that these hard-hit communities get the essential items and support they need right now to help them get back on their feet as soon as possible. 

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“At Heritage, supporting our communities is what we do, and is at the heart of who we are.”

Mr Lock later said that 100 per cent of the publicly donated funds received by GIVIT will be used to purchase “exactly what’s needed by local people and communities impacted by storms and flooding”. 

Heritage Bank Charitable Foundation executive officer Paul Olds added: “Having the support of Heritage at a time like this is absolutely critical. As a young foundation, we are in a growth phase, working hard to increase our financial capacity which will allow us [to] expand the assistance we provide annually. 

“Heritage’s $100,000 donation has given us the financial capacity to provide immediate and meaningful support to those affected by this devastating natural disaster while still being able to provide future support.

“This is a further example of Heritage’s commitment to making the Heritage Bank Charitable Foundation a serious force for good, now and into the future.”  

Heritage’s announcement follows a series of commitments made by both major and non-major banks to support those impacted by the floods.

Last week, the Customer Owned Banking Association announced that six customer-owned banks had, in tandem with Southern Cross University, established a banking hub based in the Northern Rivers city of Lismore. 

Further, Commonwealth Bank announced it had doubled its donation matching initiative for those impacted by the floods, raising its threshold to $1 million.

Westpac also announced earlier this month that it will be launching a $2 million fund to help affected small businesses.

[Related: Customer-owned banks cooperate to provide flood support]

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