SBS Bank commits to clubs and charities

MEDIA RELEASE
10 June 2009

SBS Bank commits to clubs and charities with Star Investment Special

Clubs and charities have another chance to benefit from an innovative SBS Bank investment product, specifically designed to provide them with bonus payment into their coffers.

SBS Bank general manager corporate performance Lana Winders says the return of the SBS Star Investment Special was a reflection of SBS Bank’s ongoing commitment to its customers and their communities.

“If the influx of sponsorship requests into SBS is any indication we know that many of the traditional wells of funding for non-profit organisations and community groups are starting to dry up,” Mrs Winders said.

The SBS Star Investment Special is an additional feature of the highly successful SBS Star banking package, which was launched last year as a specific account for non-profit groups and societies. SBS Star offers fee-free transactions and high interest rates on savings and investments, alongside the opportunity to go in a draw to win one of ten $1000 monthly prizes.

“It’s our way of helping and rewarding the community groups who support SBS Bank by bringing their banking business to us. That’s how a mutual bank operates. We find ways to bring benefits to the members who support us. Generally we offer that benefit through competitive interest rates, reduced fees and superior service. With the Star account and this investment special, we also add a little shot into the coffers of clubs and charities that are the heart and soul of our community.”

Since the introduction of SBS Star, SBS Bank has injected $150,000 into the coffers of non-profit clubs and societies through the monthly prize draw.

“The monthly Star draws and the SBS Star Investment Special are the perfect way to ensure all community-focused groups, no matter how big or small, are benefiting from our support.

Omokoroa Golf Club, in Tauranga, is among almost 700 charitable community groups currently benefiting from the specially-designed features of SBS Bank’s Star banking package.

Board chairman Colin Hardgrave said he and his club were delighted with the support of SBS Bank and their Tauranga team.

“SBS Bank really is the bank that supports the local community and it is the best relationship our golf club has ever had with a bank. The association we now have with SBS Bank is, in my opinion, more like that of a family than a formal business arrangement. It is a refreshing change to deal with an organisation that has such innovative and enthusiastic ideas and attitude to business.

“Times are tough out there and the support of SBS Bank has been greatly appreciated by our club. Every $1000 counts and we’ve been extremely fortunate to have benefited more than once from the Star draws during the past year. Now we will have the additional bonus of the chance to receive a one-off commission payment from SBS Bank through their Star Investment Special as well, so that’s fantastic news,” Mr Hardgrave said.

The investment is a limited edition special available only until Tuesday 30 June, with payments being made to nominated clubs in July.

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