We are excited to announce a 3-year sponsorship with the Community Bank Mt Martha.
Community Bank Mt Martha Partnership
Community Bank Mt Martha are extremely excited to have entered into a three-year partnership with Mornington Yacht Club.
The Community Bank Model is based on the community supporting its local Community Bank, who then in turn can distribute up to 80% of its profits back to the community. This is part of the Franchise Agreement all Community Banks operate under with Bendigo and Adelaide Bank Ltd.
“Support the Bank that Supports Your Community”
In the 2020 Financial Year, Community Bank Mt Martha funded $30,000 approximately based on its footings (loans & deposits)
at the time. The footings stood at $117 Million then, and have now grown to just over $250 Million with local community support.
With this footings growth increased community funding is now occurring with $450,000 approx. funded in the 2023 financial year and just over $500,000 in the 2024 financial year. This is incredibly satisfying for everyone involved at Community Bank Mt Martha, particularly the customers who are making this possible.
When members of the Mornington Yacht Club Board heard this story at a recent Community Club presentation already supported and who support the bank, they contacted the Bank to find out how Mornington Yacht Club could also gain funding.
After several meetings and due diligence, Mornington Yacht Club are now supporters of the Community Bank Model and lodged an application for sponsorship.
A three-year sponsorship agreement of $15,000 ($5,000 each year) has been approved for Mornington Yacht Club – Twilight Series 2 (which is for 9 races from 5th December 24 to 30th January 25)
A real win-win for everyone
If any member wants to finds out more about the Community Bank Model or help us grow our funding capacity back to our community, please contact Gary Sanford, Community Liaison Officer at [email protected] or on 0409 194 314.
Community Bank Mt Martha are extremely excited to have entered into a three-year partnership with Mornington Yacht Club.
The Community Bank Model is based on the community supporting its local Community Bank, who then in turn can distribute up to 80% of its profits back to the community. This is part of the Franchise Agreement all Community Banks operate under with Bendigo and Adelaide Bank Ltd.
“Support the Bank that Supports Your Community”
In the 2020 Financial Year, Community Bank Mt Martha funded $30,000 approximately based on its footings (loans & deposits)
at the time. The footings stood at $117 Million then, and have now grown to just over $250 Million with local community support.
With this footings growth increased community funding is now occurring with $450,000 approx. funded in the 2023 financial year and just over $500,000 in the 2024 financial year. This is incredibly satisfying for everyone involved at Community Bank Mt Martha, particularly the customers who are making this possible.
When members of the Mornington Yacht Club Board heard this story at a recent Community Club presentation already supported and who support the bank, they contacted the Bank to find out how Mornington Yacht Club could also gain funding.
After several meetings and due diligence, Mornington Yacht Club are now supporters of the Community Bank Model and lodged an application for sponsorship.
A three-year sponsorship agreement of $15,000 ($5,000 each year) has been approved for Mornington Yacht Club – Twilight Series 2 (which is for 9 races from 5th December 24 to 30th January 25)
A real win-win for everyone
If any member wants to finds out more about the Community Bank Model or help us grow our funding capacity back to our community, please contact Gary Sanford, Community Liaison Officer at [email protected] or on 0409 194 314.
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