Community 21 was created in 2001 by 20 not-for-profits coming together and investing in a different kind of company. One that sought profit for a purpose.
It was a new idea and a bold move; they were prepared to risk their money to realise their vision to develop a banking service that would enable the not-for-profit sector to increase its financial capacity and benefit from the capital flows within the sector. And in 2002, Community 21 in partnership with Bendigo Bank (now merged with Adelaide Bank), established the specialist banking service Community Sector Banking.
Without the appropriate financial resources and capital models, the not-for-profit sector will struggle to be as effective as it wants to be. Community 21 believes that the Australian not-for-profit sector is strong and resilient. As a sector we are a significant contributor to the common wealth of this nation both economically and socially.
The future demands that will be placed on the not-for-profit sector will be significant; Community 21 will continue to develop innovative responses to the financial and capital needs of the sector.