Compare Community Sector Banking Savings Accounts

Find the right savings or transaction account for your not-for-profit organisation with Community Sector Banking.

No reviews yet. Write a review
Community Sector Banking

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Community Sector Banking specialises in offering a wide range of banking products and services to not-for-profit organisations. Formed in 2002 as a 50/50 joint venture between Bendigo Bank and the Community 21 consortium of not-for-profit organisations, Community Sector Banking provides transaction accounts, savings accounts and loan accounts to more than 10,000 not-for-profit customers around Australia.

Important information

On December 2019, Community Sector Banking has merged with Bendigo Bank.
Existing Community Sector Banking customers will be notified directly about changes to their banking.

Who is Community Sector Banking?

Community Sector Banking has been helping to look after the banking needs of Australia’s not-for-profit sector for more than 14 years. Each of its products is designed with the needs of not-for-profit organisations in mind, and it offers a wide range of bank accounts, business cards and loan options to its customers. It also provides a number of staff packages to help not-for-profits pay their staff and administer salary packaging.

Accounts with Community Sector Banking can be managed via Internet, phone and mobile banking and, thanks to its alliance with Bendigo Bank, you can also do your banking over the counter at any Bendigo Bank branch.

$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Interest Earned
Westpac Life (18-29 year olds only)
3%
0.2%
2.8%
$0
If you’re between 18-29, you can earn a 3% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your linked Westpac Choice account, up to a balance of $30,000.
Westpac Life (18-29 year olds only)
0.4%
0.2%
0.2%
$0
If you’re between 18-29, you can earn a 0.4% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your linked Westpac Choice account, up to a balance of $30,000.
MyState Bank Bonus Saver Account
1.2%
0.1%
1.1%
$0
Ongoing, variable 1.2% p.a. when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. Bonus interest available on balances up to $250,000.
MyState Bank Bonus Saver Account
0.1%
0.1%
0%
$0
Ongoing, variable 0.1% p.a. when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. Bonus interest available on balances up to $25,000,000.
Virgin Money Boost Saver (25+ year olds)
1.2%
0.1%
1.1%
$0
Customers aged 25+ can earn an ongoing variable 1.2% p.a. each month you deposit at least $2,000 into your linked Virgin Money Go Transaction Account and make 5+ transactions.
Virgin Money Boost Saver (25+ year olds)
1.2%
0.1%
1.1%
$0
Customers aged 25+ can earn an ongoing variable 1.2% p.a. each month you deposit at least $2,000 into your linked Virgin Money Go Transaction Account and make 5+ transactions.
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
3%
0.05%
2.95%
$0
Only available to those aged 14-24. Ongoing, variable 3% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
1.05%
0.05%
1%
$0
Only available to those aged 14-24. Ongoing, variable 1.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
0.05%
0.05%
0%
$0
Only available to those aged 14-24. Ongoing, variable 0.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Citibank Online Saver
0.35%
0.35%
0%
$0
Introductory rate of 0.35% p.a. for months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
Citibank Online Saver
1.1%
0.35%
0.75%
$0
Introductory rate of 1.1% p.a. for 4 months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
Virgin Money Boost Saver (18-24 year olds)
1.2%
0.1%
1.1%
$0
Customers aged 18-24 can earn an ongoing variable 1.2% p.a. each month you deposit at least $1,000 into your linked Virgin Money Go Transaction Account and make 5+ transactions.
loading

Compare up to 4 providers

What is Internet banking like for Community Sector Banking?

Community Sector Banking’s Internet banking service is accessed through Bendigo Bank’s e-Banking service. The electronic banking service gives you 24/7 access to your accounts using Bendigo Bank’s simple One Touch Security Token. This allows you to manage your finances whenever and wherever is convenient, while you can also access mobile banking services at any time through the Bendigo Bank app.

Notable features include:

  • Easy access to your accounts 24/7
  • Transfer funds to accounts in Australia and around the world
  • Pay your creditors
  • Obtain account statements
  • Order a cheque book online

What transaction accounts are offered by Community Sector Banking?

Cash Management Trading Account

This everyday account is designed to help you get more out of your money. It combines competitive, tiered interest rates with the ability to access transaction-fee rebates, and also includes a bulk-payments facility and an overdraft facility. Access is via Internet and phone banking, cash card, debit card and cheque book facility.

What high interest savings accounts are offered by Community Sector Banking?

Social Investment Deposit Account

This simple deposit account combines a competitive interest rate with easy access to your funds. However, it also allows you to donate 0%, 50% or 100% of the interest you earn to not-for-profit programs and projects run by community organisations.

What term deposits are offered by Community Sector Banking?

If you’re looking for the safety and security of a term deposit, Community Sector Banking offers terms ranging from 1 to 60 months. The minimum investment amount is $1,000, with rates varying depending on the amount you deposit and the term you select. You also have the flexibility to add additional payments at maturity without incurring any fees.

What are the pros and cons of banking with Community Sector Banking?

Pros

  • Designed for not-for-profits. Community Sector Banking specialises in offering banking products and services for Australia’s not-for-profit organisations.
  • Backed by Bendigo Bank. As Community Sector Banking is 50% owned by Bendigo Banking, Community Sector Banking customers can enjoy access to Bendigo Bank’s branch network and Internet and mobile-banking services.
  • Account options. Whether you’re looking for a transaction account, investment account or accounts for staff members, Community Sector Banking has a range of products to suit.

Cons

  • Not-for-profits only. As the bank specialises in the not-for-profit sector, it may not have the type of accounts or services you are looking for.

How do I apply for a Community Sector Banking account?

If you’d like to apply for an account with Community Sector Banking, click one of the “Apply now” links to be taken to the Community Sector Banking website. You can then download the relevant application form for the account you’d like to open and post the completed form back to the bank. You will need to provide your name and contact information, details of your organisation and proof of ID.

If you run a not-for-profit organisation and you’re searching for a savings or transaction account, Community Sector Banking is definitely worth a closer look. Compare its products with accounts available from other banks to find the best money-management options for your organisation.

More guides on Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site