As COVID-19 forced the community to change its ways, we noticed that something else happened: doors still opened on house sales near and far, and our members, as busy as they were, found a way to make the most of the property market this past year.  

Please read the BankVic Annual Report 2021.

BankVic has delivered a strong performance in challenging economic conditions. We achieved new lending growth of $425M taking our total assets to $2.6B. Simple, low cost, accessible banking for our members contiuned to be a focus, along with the introduction of a new website, online forms, new Internet Banking, a new Victoria Police branch and the full suite of digital wallets that could back-up our low rates with exceptional service offerings.

While so much has changed over the last 12 months, our deep commitment to our purpose continues to drive our efforts: to go further for our members and communities every day, so they can go further in life. In November 2020 our decades-long commitment was recognised by becoming Certified B Corporation (B Corp) for the first time. As a B Corp, we join an exclusive network of organisations that are using business as a force for good, whereby we balance profit and purpose.

We continued to invest in our members communities so we could address their needs and that of the broader community. This past year nearly 37,000 people were reached through in person and online programs that focus on furthering the professional development of healthcare workers, health and wellbeing, people with a disability, young people and online safety and security.

In a year like no other, our people also remained a huge priority. They rose to the challenge with positivity, resilience, and an unwavering commitment to serving our members. Their hard work made our success possible while together we supported each other through the COVID-19 pandemic.

Through a year of unprecedented and ongoing disruption we remain committed to improving the financial wellbeing of our members and looking after our people and the community around us.

We hope you enjoy our Annual Report, including Financial Statements, and look forward to continuing to go further for all our stakeholders each and every year.

About the Author

Updates about how BankVic is investing in its members communities to drive positive change