Heidelberg District Community Enterprise Limited (HDCE) and its Community Bank Ivanhoe branch have become the first certified social enterprise within the community banking model.

Commitment to community

For over two decades, HDCE has strategically invested profits generated through their Community Bank partnership with Bendigo Bank back into the local community. Nan Caple, Chair of HDCE, expressed her commitment to the value and contribution of community banks, which have adeptly filled the void left by the closure of local bank branches.

"We’ve contributed over $4 million to the community through grants, donations, and sponsorships. We fund programs within our community, including those experiencing disadvantage and disengaged youths. We’re focused on supporting programs and initiatives that serve those in the community that need it the most," Caple emphasised.

Community banks have channeled more than $320 million back into local communities. These funds support grassroots initiatives, fostering meaningful change at the local level.

Certification – A vital next step

Reflecting on the importance of certification for HDCE, Caple stated, "Certification was an important step for us to gain recognition as a social enterprise, connect with social enterprises across Australia, and access further opportunities to strengthen our community impact."

Nan Caple envisions a future where 80% of community banks across Australia become certified social enterprises. This ambitious goal aims to strengthen the social enterprise model, providing opportunities for collaboration within the social enterprise network, to create a fairer, more sustainable, and robust foundation for communities to flourish.

At the recent Community Banking Conference, a comprehensive toolkit and a step-by-step guide were unveiled, to assist other community bank enterprises in achieving social enterprise certification. Remarkably, 50 community bank enterprises have already committed to this transformative journey with 5 other community bank enterprises already completing certification: Creswick & District Financial Services, Cobden & Districts Community Finance, Dingley Village Financial Services Limited, Sarina and District Community Financial Services and Bacchus Marsh Community Enterprise Limited.

Social enterprises- The business model of the future

Tara Anderson, CEO of Social Traders, applauded the achievement, stating, “We believe social enterprises that blend mission and money are the business models of the future that will help build a fairer and more equitable Australia. The community banking sector is the perfect demonstration of what’s possible – taking the traditional banking model and turning it on its head to deliver community value.”

“HDCE is creating purposeful impact for communities, and we are excited to welcome them into the social enterprise community. We hope to assist and support more community banks in elevating their impact even further. We have a bold ambition to make social enterprise business as usual so that one day, we’ll look back and wonder why it was ever any different.”

To learn more about the Community Bank model and how it can benefit your community, go to https://www.bendigobank.com.au/community/community-bank/