At the launch of bankmecu on September 1, bankmecu also announced $146,920 of investments from its Community Investment Program. The Community Investment Program sees up to 4 per cent of annual profits allocated to projects that create positive social, environmental and economic benefits.
The four projects to receive investment were:
- The Victorian Women’s Trust - “Be the Hero” Program - bankmecu is making a $30,000 investment to help expand this already successful program, which encourages young men to talk about violence against women and its ramifications.
- Australian Conservation Foundation – New Economics Program – bankmecu is making a $50,000 investment into research and development of economic theory and practice that takes account of environmental and human wellbeing.
- CSIRO – Science by Email Education Program – bankmecu is investing $51,920 in this program that gives more than 40,000 children and teachers interesting and inspiring science news and activities via a weekly email.
- Credit Union Foundation Australia – bankmecu is making an additional investment of $15,000 towards projects that are establishing affordable financial services and micro-financial cooperatives in developing communities in the Asia Pacific region.
Incoming bankmecu CEO Damian Walsh said “We make these investments because bankmecu believes that socially and economically strong, and environmentally aware communities are better positioned to draw on their own resources to develop and thrive.”
“bankmecu focuses investment in four key areas – environment, education, community resilience, and international development,” Mr Walsh said.
Click here for more information about bankmecu’s Community Investment Program.