Member Stories

Customer-owned banks rally to fund scholarship for flood victims


Almost two years on from the devastating 2022 floods, customer-owned banks have come together to offer a scholarship for students affected by the natural disaster.

Few of us can forget the catastrophic floods of 2022, which devastated dozens of communities in NSW and Southern Queensland. The Northern Rivers region of NSW was hit especially hard; the event destroyed hundreds of homes and businesses and the area is still rebuilding. 

At the time, a group of customer-owned banks got together to provide a haven for residents at the Lismore campus of Southern Cross University (SCU). Led by Summerland Bank, the coalition included BCUG&C Mutual BankGreater BankNewcastle Permanent Building Society and Southern Cross Credit Union.

This safe spot sheltered many locals who could not safely return to their homes, and provided essential banking services and ATM access while communications were down and branches were inaccessible.

Almost two years on, the same customer-owned banks have joined forces once again to offer a scholarship for someone who lives in an area that was affected by the devastating event.

The $15,000 scholarship gives one student per year the opportunity to study a Bachelor of Business and Enterprise at SCU. To apply, students must provide a statement to the university about their motivation to study the course. 

While applications have closed for this year’s scholarship, future opportunities will be advertised on the SCU website. 

As many locals know, some residents in the Northern Rivers region still haven’t rebuilt their homes and businesses. Customer-owned banks have felt the pain of their communities and have provided support in a range of ways, including fundraisers and events. It’s another way our members give back.

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