Community Access

Overview

Bank Australia's deposit products are socially and environmentally responsible and still competitive relative to the major banks. For example, prospective lending customers are assessed by the bank to ensure they are able to assume their debt obligations without suffering financial hardship, the bank invests 4% of its after tax profits in projects with a positive social and environmental impact, the bank mitigates the social and environmental impacts of its operations and screens potential loans and investments for negative social and environmental effects, for example, excluding loans to the fossil fuel industry.

Description

1. Contributing to a pool of funds which is primarily sourced from other depositors in Bank Australia (an important part of the bank’s stable, customer-owned business model).
2. Entrusting their deposit to a bank which is run in a responsible manner, for example, by:
   • Striving to ensure their money is lent (invested) in a socially and environmentally responsible way, by for example, not making any loans to the fossil fuel industry;
   • Returning profits to its customer/owners through competitive fees and interest rates;
   • Ensuring that its products are socially impactful and still competitive relative to the major banks; 
   • Allocating 4% of its profits to the Bank Australia Impact Fund, including in the Bank Australia Conservation Reserve;
   • Mitigating the environmental and social impacts of its operations; and
   • Creating and keeping jobs in Australia.