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Partnership Attracts $1.2M in Funding

13 September 2018 |Do Good Fund
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Partnership Attracts $1.2M in Funding

13 September 2018 |Do Good Fund

AWA Alliance Bank® is supporting its local communities through a partnership with East Belmont Cricket Club.

AWA Alliance Bank and East Belmont Cricket Club (EBCC) have had strong links over a number of years, which has resulted in a partnership that will see AWA provide support funding to deliver a desperately needed upgrade to change rooms, public amenities, and practice facilities at Winter Reserve, Belmont - the Club’s home ground.

East Belmont Cricket Club Partnership.
East Belmont Cricket Club Partnership

EBCC approached AWA to provide a social impact loan of $100k to support the change rooms and public amenities upgrade. This was enough seed funding to get the attention and ultimate full funding for the project with co-contributions from the Federal Government, the State Government, the City of Greater Geelong, and the Belmont Lions Sports Club (which shares the facilities).

The entire project will cost $1.2M and without the initial seed funding the East Belmont Cricket Club upgrade would not have been considered for government funding.

The way it works is the profit earned from new members that are part of the East Belmont Cricket Club community, in part, goes toward paying down the loan enabling AWA Alliance Bank® to effectively invest in its community while growing its member base.

An additional $50k social impact loan has also been provided for a major upgrade to turf and hard wicket training facilities and with a co-contribution of $60k from the City of Greater Geelong this $130k project is on-track to deliver a significant improvement to this community asset.

The business generated by this partnership is already sufficient to cover the full loan amount of $150k provided by AWA and both projects are scheduled for completion in the coming months. The arrangement has raised brand profile in the region and  attracted other sporting organisations in the area providing AWA with new business opportunities in new markets.

They have two other projects (one which is complete and the other in progress) that are structured using the same shared value approach:

  • The restoration of the Alma Doepel (in progress), a 115 year-old tall ship that delivers sail training and support to disadvantaged youth,
  • and the construction of 6 new courts (complete) at AWA Alliance Bank Stadium for Basketball Geelong.

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Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. AWA Mutual Limited®, BDCU Limited®, CIRCLE Mutual Limited®, NOVA Mutual Limited® and SERVICE ONE Mutual Limited® (Alliance partners) are independent mutual entities that have formed an alliance with Bendigo and Adelaide Bank. AWA Alliance Bank®, BDCU Alliance Bank®, CIRCLE Alliance Bank®, NOVA Alliance Bank® and SERVICE ONE Alliance Bank® are trademarks of Bendigo and Adelaide Bank Limited.

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