Responsible banking

Customer owned responsible banking and the values embodied are not just part of bankmecu’s brand, but also its business strategy. bankmecu’s profits are reinvested back into the bank to provide all of its customers with fairer fees and better interest rates, as well as the products and services they expect.

Profits and values

By running a lean and efficient business, bankmecu aims to achieve strong profits, which are invested back into the bank allowing it to deliver value back to its customers. bankmecu’s profitability allows the bank to create value for its community sector customers, and to have a positive impact in the communities in which it operates and on the environment.

bankmecu invests in a range of initiatives through its Community Investment Program. Each year, bankmecu allocates up to four per cent of annual after tax profit in addressing a range of community and environmental issues to make a positive, measurable and sustainable difference to society.

Over the years the program has invested in science, education, social housing, community resilience, sustainability and in developing the financial and governance capabilities of not-for-profit (NFP) organisations. This investment in direct programs, and in strengthening the community sector as a whole, is aimed at achieving measurable social and environmental outcomes.

Community support

bankmecu believes that one of the ways it can best assist the community is to support the efforts of community organisations by investing in professional development.

bankmecu currently partners with the Victorian Council of Social Service (VCOSS) on the VCOSS-Link Finance Network program. This program provides community organisations with workshops on finance and strategy skills to help build their capability in a low funding and low interest rate environment.

Workshops offered in 2014 included: planning for and evaluating social return on investment and the outcomes looked for by philanthropists, practical strategic planning, and re-imagining the relationship between the community sector and government.

In 2014, bankmecu also invested in Women’s Legal Service (WLS) Queensland to assist them in raising their capability to attract additional funds, allowing them to expand their services to more clients.

WLS Queensland is a specialist community legal centre run by women that provides free legal information, advice and referrals to women throughout Queensland – a lot of whom are experiencing domestic and family violence.