Contents. Scope This report covers the community involvement programs of Westpac Banking Corporation in Australia as at July 2005.

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1 Community Involvement Report 2005

2 Contents CEO s message 1 Our approach 2 1. Employee Involvement 4 2. Community Partnerships 6 3. Capacity-Building 8 Overview 10 Case Study: Disadvantaged Helping the Salvos shield those in need 12 Case Study: Financial literacy Raising financial awareness in the community 16 Case Study: Environment Rejuvenating a local park 20 Case Study: Indigenous issues Supporting Indigenous entrepreneurs 24 Case Study: Rescue services Making Queensland beaches safer 28 Case Study: Regional Getting involved throughout Australia 32 Case Study: Westpac Foundation Developing the leadership skills of young people from tough realities 36 Westpac Matching Gifts 40 Westpac Banking Corporation ABN Scope This report covers the community involvement programs of Westpac Banking Corporation in Australia as at July Contact Us For more information on our community involvement programs, us at community@westpac.com.au or call

3 As Australia s first bank, Westpac has played a leading role in the community throughout our 188-year history and we ve had a strong tradition of community involvement. We believe investing in the community is not only part of our corporate responsibility, it is necessary for us to maintain a sustainable business. That s why we ve put in place community programs that are focused on achieving long term positive outcomes for society, as well as for our employees, customers and shareholders. I m pleased to present our latest report on our community involvement in Australia. We continue to see benefits from our investment in the community. Our employees feel positive about our community programs, our community connections help sustain our business, and this enhances our reputation. Equally important are the positive impacts on society, such as stronger community services, the saving of lives, the protection of natural resources, and improved financial literacy. Of course, time and effort are just as important as dollars and cents for many community groups in need of a helping hand. That s why we give our people opportunities and flexibility to support the community groups they feel passionate about. I have the great privilege of hearing about the many ways that Westpac employees do just that, week in and week out. I hope you enjoy reading just some of their stories and finding out why community involvement is genuinely part of the culture at Westpac. David Morgan Chief Executive Officer 1

4 Australia s first bank and company has a long history of supporting the communities where our people live and work. Our strategy is simple. We embed community involvement into our business model, so that in effect, it becomes part of our organisational culture the way we do things. Being a leader in corporate social responsibility is a company-wide objective at Westpac and we have practical programs that enable individuals and teams to achieve this goal in varied ways. The core components of our community involvement strategy are: Westpac s Employee Involvement program makes it easy for employees to get involved in the community and provides them with flexibility to support the community groups of their choice. Our Community Partnerships program is based on the premise that we can make a bigger impact on society by working closely with several key community groups over the long term, than by providing support on an ad hoc basis. We use our resources, networks and expertise to strengthen the capabilities of our community partners to meet the areas of need they work within. Our Capacity-Building initiatives provide community groups with access to business and finance tools and training. We aim to help them improve their operational effectiveness and grow their capacity to deliver community services and support. 2 3

5 Like many large organisations, Westpac has a diverse workforce of people from varied backgrounds and cultures, with different ages and experiences. It s no surprise then, that they also have diverse interests and are connected to a wide range of causes. Matching donations Westpac Matching Gifts is our largest giving program and one of the most comprehensive corporate-giving programs in Australia. The bank matches the donations of employees, dollar for dollar, to any tax-deductible charity in Australia. Through donations from employees and Westpac Matching Gifts, around 810 charities have received $9.3 million since the program began in 1999 (see pages for details of charities in 2004/05). Volunteering Community groups throughout Australia rely on an army of volunteers to help them deliver vital services and support. That s why Westpac provides community leave and flexible working conditions for employees to do volunteer work with any not-for-profit organisation. Individuals and teams take up this opportunity in many different and innovative ways, from brightening up temporary accommodation for homeless people to restoring natural habitats in local parks. To help raise awareness of volunteering opportunities, a network of around 300 Community Champions across Australia provides information and support to employees in their local areas. The Community Champions are also supported through regular communication forums and newsletters. In the twelve months to June 2005, 2,985 community leave days were logged by Westpac employees. Countless other days were spent by employees using their professional skills on pro bono projects for community groups and through mentoring programs. Environmental projects Many employees choose to make a difference in their local environment by taking part in the Westpac Operation Backyard program. The program is administered by our environmental partner, Landcare Australia, and provides funding for the cost of environmental materials for projects involving Westpac volunteers. Since Westpac Operation Backyard began in 2001, $963,000 has been invested in 228 environmental projects. Recognition We recognise and reward outstanding contributions by employees to the community through the annual CEO s Community Volunteering Awards. Individuals and teams receive special awards and the community organisations they work with receive financial support. Through the awards alone, more than $600,000 has been distributed to the community organisations supported by our star volunteers over the past 12 years. 4 5

6 Westpac has community partners in the areas of education, the environment, Indigenous issues, medical research, social welfare and rescue services. These partnerships represent the diversity of our stakeholders interests and have developed through the increasing engagement of employees. Many of our partnerships are longstanding, for example, we ve worked hand in hand with The Salvation Army and Westpac Rescue Helicopter Services for more than three decades. We believe we can make a bigger difference over the long term by collaborating with these groups and our other community partners on a strategic basis. Mutual benefits Our contributions to community partners vary from financial support, in-kind donations and pro bono services, to capacity-building, knowledge transfer and corporate volunteering. We continually seek ways to add value to their organisations and we use our sphere of influence to make mutually beneficial connections with other businesses in our supply chain. Our community partners also provide Westpac with many benefits. They help us connect with local communities, give us insights into the issues facing Australian society and provide our employees with opportunities to broaden their experience and gain life skills. Raising awareness One of the ways we help our community partners is by raising public awareness of their appeals. Every Westpac branch has a community stand which displays posters and fliers for our community partners on a rotational basis during the year, and we accept over-the-counter donations from customers. We also promote our partners via the Westpac website and by distributing donation envelopes in credit card statements twice each year. 6 7

7 Optimising the business and financial skills of the not-for-profit sector is the aim of Westpac s capacity-building program. We provide community organisations with access to specialised training and tools, and share our knowledge and expertise in key business areas. Strategic development workshops An international expert leads onsite workshops for community groups to help them analyse their operations and identify opportunities for process improvements. These workshops have prompted many organisations to implement changes that have resulted in immediate and long term productivity improvements. Leadership forums Executives of not-for-profit groups are brought together at a financial management workshop held by the Macquarie Graduate School of Management. The workshop aims to maximise the performance of community organisations through effective business management. It also provides a forum for discussing the business challenges of the not-for-profit sector. Westpac s Beyond Survival course helps small businesses be more successful, and is available for community groups at a discounted rate. We also provide a number of free places to selected organisations throughout the year. The two-day workshop helps participants to better understand balance sheets and financial statements so they can make more informed business decisions and improve their bottom line. Banking solutions for community organisations Westpac has developed a range of discounts on financial products and services commonly used by non-profit organisations, to help them maximise their resources. We have also developed a Guide for Community Treasurers to improve the financial knowledge of people looking after a group s finances. The free publication has been developed in conjunction with Our Community, a company that provides products and services to the community sector. 8 9

8 Overview Community contributions by $AU $m Area of involvement Charitable gifts Community investment Eco projects In-kind Management costs Commercial sponsorships Total Breakdown of community investment Rescue services Indigenous issues Education and life skills Numeracy and money skills Financial inclusion % % % 5.2% 1.1% 6.2% 7.1% 1.8% % 6.3% 1.6% 8.7% Our key community partners Australian Mathematics Trust Westpac has sponsored the Australian Mathematics Competition since it began in The competition encourages the study of mathematics and recognises the mathematics skills of primary and secondary school students. Indigenous Enterprise Partnerships (IEP) Westpac is a founding corporate partner of IEP and is working on programs to help build the financial independence of communities in Cape York. Juvenile Diabetes Research Foundation (JDRF) The bank has been a major national sponsor of JDRF s Walk to Cure Diabetes since 1998 and we help raise funds throughout the year for medical research. Landcare Australia Landcare Australia administers Westpac Operation Backyard, an environmental funding program for projects involving our employees. Westpac sponsors the National Landcare Education Award and helps raise awareness of responsible landcare practices. Mission Australia Since 2000, Westpac has forged a strategic partnership with Mission Australia to support their work with marginalised and disadvantaged people. Our banking relationship spans 140 years. The Salvation Army Westpac has provided hands-on support for the Red Shield Appeal for more than three decades and our banking relationship dates back to the late 1800s. The Smith Family Westpac has actively supported The Smith Family since Our employees are involved with fundraising and volunteering activities and actively promote The Smith Family s Learning for Life program. Life Saving Victoria Our partnership with Life Saving Victoria began in We sponsor the Westpac Life Saver Rescue Service and help raise awareness and funds via our branches for the Life Saving Victoria Rescue Appeal. Surf Life Saving Queensland Westpac has been involved with Surf Life Saving Queensland since We sponsor the Westpac Life Saver Helicopter and four jet rescue boats, and also promote the Surf Life Saving Rescue Appeal each year. Westpac Life Saver Rescue Helicopter Services in New South Wales For over 30 years, the Westpac Life Saver Rescue Helicopters have been saving lives. Westpac works with the rescue helicopter services to raise awareness and funds so they can continue serving the community. Westpac Rescue Helicopter Service in Tasmania In 2005, Westpac entered into a partnership with the Tasmanian Air Rescue Trust to boost rescue services in Tasmania. The Westpac Rescue Helicopter Service provides a vital air rescue service for people living in or visiting Tasmania. Other community investment Westpac Matching Gifts $2.6 million was donated to 382 charities in 2004/2005 (employee and Westpac contributions see pages for details). Disadvantaged Millers Point Youth and Employment Partnership Wesley Mission Western Chances WorkVentures Youth off the Streets Disaster Bushfire, drought and flood relief packages Oxfam Australia Asian Tsunami Appeal Financial literacy Beyond Survival for community organisations Financial First Steps MGSM Financial Training Program Onsite Analysis Training Young Achievement Australia Indigenous issues Balkanu Cape York Development Corporation Bama Ngappi Ngappi Corporation Cape York Institute Cape York Partnerships First Australians Business Indigenous Business Australia Indigenous Capital Assistance Scheme Indigenous Community Volunteers NT Government Indigenous Advisory Group Tangentyere Council, Alice Springs, NT Yothu Yindi Foundation Garma Festival Westpac Foundation Activate Australia Barnardos Australia Cape York Corporation Future Dreaming Glendyne for Girls Indigenous Program Good Beginnings Infants Home Mission Australia Njernda Aboriginal Corp St Luke s Anglicare Whitelion Tasmania WorkVentures YWCA Appeal support Activ Foundation, WA Hat Frenzy Friday Cancer Councils Daffodil Day Children s Hospital at Westmead, NSW Bandaged Bear Day Children s Medical Research Institute Jeans for Genes Day Epilepsy Association, Qld Little Poss Financial Markets Foundation for Children Bow Tie Day Humpty Dumpty Foundation, NSW Balmoral Burn National Breast Cancer Foundation Pink Ribbon Day SIDS & Kids, WA Red Nose Day Commercial sponsorships Australian String Quartet Business networking events Entrepreneur of the Year Exporter of the Year Awards (NSW) Field days Global Entrepreneur Monitor Industry-specific events Jewish Communal Appeal Our Community Champion of Champions (Small Business Awards NSW) Sponsored athletes Telstra Business Women s Awards Trade shows Women s networking events 10 11