2018 Corporate Report
In a year when the financial sector has experienced unprecedented scrutiny and is the subject of widespread public discussion, we stayed true to our purpose and put customer interests at the centre of our business.
From our corporate report, you’ll get a clear picture of our performance and the impact we made in the period 1 July 2017 to 30 June 2018, including measures of:
- our financial and cultural performance
- our creation of prosperity for our customers
- our support for people and their communities
- our contribution to making our planet healthy.
You can read more about our financial position and performance in the 2018 financial report.
Some of our key projects include:
The Bank Australia Needs marketing campaign
We want people to know about Bank Australia and the values that we embody. Why? Because we want people to know there is an alternative approach to banking.
Our ‘bank Australia needs' campaign, launched in September 2017, highlights our unique approach to banking. Campaign messages include:
- The bank that puts people before profit is the bank Australia needs.
- The bank that is 100% owned by its customers is the bank Australia needs.
- The bank that protects endangered species is the bank Australia needs.
The campaign features Bank Australia customers, many of whom are doing amazing things for people and the planet such as:
- empowering newly arrived migrants and people seeking asylum
- finding solutions to poverty in Australia, Africa and Asia
- clearing rubbish from waterways
- reducing carbon emissions by building solar farms
- diverting coffee grounds from landfill to community gardens.
View the campaign results in our corporate report.
Helping customers buy their own first home, with the Victorian Government
Our customers have told us that housing affordability matters to them. That’s why we’re working with the Victorian Government to help Victorians buy their first home.
The Victorian Government’s $50 million HomesVic scheme helps first home buyers by sharing the upfront costs of home purchase and taking up to 25% proportional interest in the property. The home buyer contributes a minimum 5% deposit and Bank Australia finances the remainder of the purchase cost.
Following strong interest in the scheme since its launch in February 2018, we have processed 413 applications, and started advancing loans for many people who would have found home ownership out of reach.
This program, without a doubt, has been life-changing. I have the house I had hoped for when everyone, from family, friends, mortgage brokers and real estate agents, had advised me to aim for far less or leave town. I can now provide the family home every child deserves, with a possibility now of having pets! - HomesVic recipient and Bank Australia customer
The HomesVic home ownership pilot program is now closed to new applicants.
How we're switching to renewable energy
Bank Australia is part of the Melbourne Renewable Energy Project, a group of organisations led by the City of Melbourne that joined together to support the development of a wind farm that will be built near Ararat in regional Victoria.
Bank Australia Managing Director, Damien Walsh, says the project will be a key part of the bank’s environmental strategy:
The majority of our current greenhouse gas emissions are from electricity. The Melbourne Renewable Energy Project will help us make big emissions reductions and meet our commitment to purchasing 100% renewable electricity by 2020.
The project will also help us meet the expectations of our customers, who have told us renewable energy is a priority for them.
The project has united 14 leading universities, cultural institutions, corporations and councils to source energy from the new 80MW wind farm.
Bank Australia will transition all sites to renewable electricity once the wind farm is up and running in 2019.