Northern Rivers NSW mainstay Summerland Credit Union, announces its evolution to Summerland Bank, ushering in a new era of banking that seeks to put the power back into the hands of the community through its wholly customer-owned banking model.
Now as a bank, Summerland will seek to increase its impact, engaging people of all ages to enjoy and carry forward the benefits of braver and better banking alternatives.
“As we considered the future of Summerland with our 60th birthday in sight next year, we needed a strategy that would allow us to grow with our community and see us actively addressing the challenges we face within our region and beyond. Now as a bank, we are still owned by our customers, still run by the people who bank with us, and are still offering more of what our customers want while supporting them to realise their potential as individuals, families, business owners, and members of a thriving and connected Northern Rivers NSW,” says John Williams, Chair & CEO at Summerland Bank.
Summerland has been a vital part of the Northern Rivers NSW community since 1964 from early days as a credit union, and now as a purpose-driven and B Corp certified bank. Founded on the values of reciprocity, a thriving community is central to Summerland Bank’s vision and benchmark for success.
Summerland Bank provides employment to more than 100 individuals from the Northern Rivers NSW and regional communities and is committed to in-branch banking with good old fashioned customer service at its 10 hubs in the region. This includes a local call centre where customers are assured they are speaking with locals who understand their needs.
“Our community knows Summerland’s team and their families, we see each other around town and we come together to support one another in good times and in challenges. As a customer-owned bank, we exist to see our community thrive through new business, innovation, employment opportunities, growing families and affordable and accessible housing. What’s good for the community, is good for Summerland,” continues John.
Summerland regularly re-invests around 5% of profits back into the community each year through purposeful initiatives, giving and local sponsorship, with plans to direct profits in the coming year toward local wildlife, financial wellbeing and the local environment.
A growing customer-owned success story, Summerland Bank reached $1.048 billion in assets and anet profit of over $7.2 million last financial year. This follows a record 3.4% growth in customers now with over 27,000 people choosing a braver banking alternative, solid growth across lending, deposits and assets in the last financial year which includes a 10.8% growth in loans despite increasing interest rate volatility in the market.
Equipped with a new logo designed to capture the essence of the Northern tributaries – movement, life and continuity– and colours that pay respects to the natural world, Summerland Bank will be sharing their new name and look through a creative campaign, ‘Where the locals go’, that taps into the heart of their mission; supporting a thriving and connected Northern Rivers community.
For individuals from the community and beyond looking for a braver banking alternative, you can view your options at www.summerlandbank.com.au.