Leave site
Alert

Interest rate announcement - 12 August 2022. Bank Australia will increase variable home loan and commercial variable rates in response the RBA’s recent decision to raise the official cash rate. From 18 August 2022, interest rates will increase by 0.50% for variable rate owner-occupier and investor loans, while commercial variable rate loans will also increase by 0.50%. For existing home loan customers, repayment changes will be effective from 1 October 2022. Read more here.

Close button
2022-04-28 10:05 am
Close button

Basics for community organisations

Key questions to consider when organising the banking needs of a community organisation.

What’s on this page

Making your banking work efficiently provides a strong basis for delivering services to your clients and the community.

Government resources

There's some excellent information to assist with business banking at https://business.vic.gov.au/business-information/finance/set-up-your-finances/open-a-business-bank-account.

Some questions to consider

  • Do you need a separate business bank account?
  • Do you have a sound bookkeeping system in place?
  • Do you need to finance cash flow fluctuations?
  • Do you need to finance premises, vehicles, equipment and inventory?
  • Do you have expansion plans?

Who can help

Once you know your organisation's needs, you can look into the financial products that can help. Think about the costs, interest payments, charges or terms, tax and GST implications of each product and consult your business advisor or accountant for advice.