Interest rate announcement - 12 August 2022. Bank Australia will increase variable home loan and commercial variable rates in response the RBA’s recent decision to raise the official cash rate. From 18 August 2022, interest rates will increase by 0.50% for variable rate owner-occupier and investor loans, while commercial variable rate loans will also increase by 0.50%. For existing home loan customers, repayment changes will be effective from 1 October 2022. Read more here.

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2022-04-28 10:05 am
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Impact fund

What is the Impact Fund?

Our Impact Fund supports projects that create a positive impact in the world. We commit up to 4% of our annual after-tax profit to the Impact Fund.

Where you put your money matters

We believe that a truly responsible bank can help make our society better and our Impact Fund is one of the ways we do this.

As a customer-owned bank, we ask our customers regularly to tell us which issues they want to see us act upon. This is how we determine which projects to support through the Impact Fund.

Above: The Great Ocean Road, VIC

What we fund

We're guided by our responsible banking policy, which sets out what we do and don’t lend to. This helps us focus on people and businesses working towards a future of conservation, financial inclusion, and reconciliation.

Here are some examples of our funding categories:

Conservation reserve

Our largest Impact Fund investment is the Bank Australia Conservation Reserve, a 2,117 hectare private nature reserve that is protecting important woodlands and wetlands habitats as well as 13 threatened native animal species.

Working in partnership with Greening Australia and Trust for Nature we are using evidence-based conservation planning to inform our vision and strategy for this project.

Our reconciliation action plan

Bank Australia was the first customer owned bank to have a Reconciliation Action Plan (RAP) and in 2018 we launched our fourth stretch plan. We also use our Impact Fund to support initiatives that promote reconciliation and help close the gap between Indigenous and non-Indigenous Australians.

Reconciliation initiatives we support
  • We support Reconciliation Victoria’s HART Awards, a program that recognises the diverse reconciliation projects taking place in the Victorian community  
  • We fund a number of Community Leadership Scholarships for people from an Aboriginal or Torres Strait Islander background to support emerging community leaders to develop their leadership potential. We are supporting scholarships in Mildura, Bendigo, Gippsland and Adelaide.
  • We support our Conservation Reserve partner Greening Australia to employ local Traditional Owners in Western Victoria to develop skills in land management and conservation.

Human rights initiatives we support

We support Human Rights Watch to undertake their independent refugee research program which helps to defend the rights of refugees, asylum seekers and displaced people worldwide. Human Rights Watch staff respond to emergencies and chronic situations, document human rights issues, and take their findings to policy makers, legislators and the media.

Our Learning Potential Fund Scholarship

The Bank Australia Learning Potential Fund Scholarship addresses educational disadvantage by offering financial support to a QUT student to help them complete their studies

Contact the impact team

For more information about the Bank Australia Impact Fund, get in touch with our team.

Get in touch

Certified B Corp bank

Our B Corporation certification is an external validation of how we’ve  acted responsibly over nearly two decades – it works as a blueprint for how we plan to serve people and the planet in the decades to come.

About B Corp