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Commonwealth Bank awarded for its commitment to the community

Sydney, 25 June 2009: The Commonwealth Bank has been awarded an Australian Business Award, in the Community Contribution category, for its work on increasing financial literacy in Australia

The Australian Business Awards is a national, all-encompassing awards program honouring organisations that demonstrate the core values of business excellence, product excellence, sustainability and commercial success in their respective industries.

Commonwealth Bank Group Executive, Barbara Chapman, said the Commonwealth Bank was committed to improving the financial literacy skills of the Australian community.

“As one of Australia’s largest and most respected financial services organisations, we have a unique role to play in developing financial literacy skills in the Australian community,” she said.

“We are delighted to be recognised for our commitment in this way.”

A spokesperson for the Australian Business Awards said the awards program recognised organisations which implemented policies or projects that had a positive impact on the community and generated outcomes that had a long term benefit.

They stated that “the 2009 Awards attracted a very high standard of entries from the Australian business community in times of great change. This year’s winners displayed exceptional performance and leadership in their respective industries, and are role models for any organisation striving for business and product excellence.”

Ms Chapman said that through the Commonwealth Bank Foundation, the Bank runs a range of financial literacy initiatives, in particular its StartSmart program. StartSmart provides an innovative way of delivering money management education to high school students around Australia, free of charge.

“The StartSmart program is delivered by world class professional facilitators, and it’s about providing students with the foundations for informed decisions about earning, saving, investing and spending their money,” she said.

“This year alone, we will reach over 70,000 students in cities, regional centres and rural towns through our StartSmart program.”

Ms Chapman said the Foundation’s programs built upon the Commonwealth Bank’s proud tradition of helping young Australians learn about the importance of saving and smarter money management, since its student savings program began in the 1930s.

“We are committed to creating programs that make a real, meaningful and long term difference to young people and the Australian community,” she said.

 

About the Australian Business Awards:

The Australian Business Awards is a national awards program honouring organisations that demonstrate the core values of business excellence, product excellence, sustainability and commercial success in their respective industries. The judging panel is carefully selected and coordinated by the Australian Business Awards to ensure that the judging process is fair and objective. The 2009 Australian Business Awards were presented to 67 organisations selected from a field of 928 entrants across various industries. For further information, go to www.australianbusinessawards.com.au

 

For more information contact:

Holly Williams

Commonwealth Bank

Ph: (02) 9378 7130

 

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