1 July 2015: One of Australia’s largest consortia of not-for-profits, Community 21 Ltd, has concluded their historic share offer having raised almost three-quarters of a million dollars and gaining 18 new not-for-profit shareholder organisations.
The capital raised has largely been injected into the holding company of Community Sector Banking, the specialist banking service for the NFP sector.
The further $600,000 investment, was made to be used for the act. banking and crowdfunding platform, launched late last year.
Partner, Bendigo Bank, then matched the investment meaning Community Sector Banking now has $1.2 mill to further develop and implement build up act.
“We’re glad we’ve raised this substantial sum in such a climate of uncertainty for not-for-profits. When you are a group of not-for-profits trying to match a bank it puts the pressure on. Said Executive Director, Peter Quarmby.