Partnering for greater impact
We know we can’t solve big problems on our own. That’s why we’re committed to partnering effectively with other organisations whose experience and expertise can help us deliver on our environmental, social and ethical aspirations around being a responsible bank. Together, we aim to create meaningful impact for all Australians, aligned to our purpose and our values as a customer-owned bank.
Mission Australia
In August 2023, we announced a ground-breaking partnership with Mission Australia, aimed at cutting utility bills and reducing emissions for hundreds of Australians living in community housing.
Over three years, Great Southern Bank will invest $1 million funding a range of energy and water efficiency measures that will help Mission Australia tenants reduce their bills and save money. These upgrades include installing solar panels, insulation, window glazing, LED lighting and energy and water meters.
We chose to partner with Mission Australia because our two organisations share similar values and are aligned in a common desire to see that every Australian has a safe, affordable, and stable place to call home.
The partnership plays a key role in Great Southern Bank’s second Financial Inclusion Action Plan. It also supports the bank’s commitment to climate action, by helping reduce emissions and building greater awareness and energy-conscious behaviours.
We have successfully completed the first round of upgrades to a 41-unit complex in Forster, NSW. The 1970s complex was chosen due to its energy and water inefficiency. View this short video to see the transformation.
National Affordable Housing
To improve access to home ownership, Great Southern Bank has partnered with National Affordable Housing (NAH) as a lender on the panel for the BuyAssist shared equity program since 2017. BuyAssist is a unique program that provides up to 25% of the purchase price fo a new home and connects buyers to suitable properties and lenders. The program enables eligible buyers on a low-to-moderate income to buy a property without needing to save a deposit, helping more Australians purchase a home sooner. Learn more about the program here.
In April 2023, we announced a first-of-its-kind financing pathway to further support affordable home ownership. The innovative agreement enables NAH to use $2 million of Great Southern Bank debt financing as equity, to support up to 15 additional eligible low-to-middle income Victorian households to buy a home through BuyAssist.
Read more about the partnership here.