Community Impact & Foundations
History
We’ve been helping people in need for over 140 years. Doing good is in our DNA.
In 1879, Westpac became the first company in Australia to establish a charitable organisation. Launched by then CEO Thomas Buckland, the Buckland Fund (now part of the Westpac Foundation) originally helped widows and orphans of bank employees.
Since then, we’ve invested heavily to establish four other philanthropic foundations, including St.George, Bank of Melbourne, BankSA Foundations and Westpac Scholars Trust. The last of which was formed in 2014 with a $100 million gift to fund 100 scholarships a year, forever. At the time this was the largest philanthropic endeavour by an Australian corporate.
Vision
In continuing our support of the foundations, along with our employee programs, we are determined to make a difference by backing the people and organisations who are building better futures for all Australians.
Strategic approach
The foundations focus on the areas that matter to our customers, communities and people – job creation, investing in next generation leaders and supporting young people facing challenges.
In alignment with the foundations, Westpac Group employees are also able to contribute to driving purposeful and sustainable progress through their participation in our employee programs.
Together with the foundations, we are seeking to:
- Create 10,000 jobs for people facing disadvantage by 2030 (target exceeded in FY24)
- Award 100 scholarships a year forever, to individuals transforming the future of Australia
- Improve educational and well-being outcomes for children and young people in local areas where we operate
- Empower Westpac Group employees to give back through skilled volunteering
- Match employee donations through our Matched Giving Program.
Impact
In 2024, we invested $57 million in the community through charitable gifts, matched giving and community partnerships.
The foundations also awarded an additional $11 million.
$90M+
Collective investment by the Foundations in the last decade.
$28M
Invested by Westpac Foundation to create more than 10,000 jobs for disadvantaged Aussies in the last decade.
$40M
Invested by Westpac Scholars Trust into 830+ scholarships for next generation leaders since 2015.
$28M
Invested by St.George, BankSA & Bank of Melbourne Foundations to local charities creating brighter futures for children and young people since 2014.
We measure impact using grant partner provided statistics alongside our own financials and internal surveys, including the Westpac Scholars Trust Long-Term Impact Evaluation and annual Scholar Survey.
2024 Foundations Impact Report
In 2024, the foundations delivered significant impact in the local community by creating jobs, empowering future leaders and helping children and young people thrive. Find out more about their collective achievements.
Westpac Group Foundations win award for best grants program
Four foundations established by Westpac Group have together been awarded Best Grants Program at the 2024 Australian Workplace Giving Awards.
Our foundations
Westpac Foundation
Investing in job creation by providing funding and programs to help create jobs and opportunities for those facing barriers to work.
Westpac Scholars
Investing in the next generation to transform the future of Australia by awarding 100 scholarships a year, forever.
St.George Foundation
Investing in small, local charities helping to create brighter futures for children and young people in our communities.
Bank of Melbourne Foundation
Investing in small, local charities helping children and young people in Victoria thrive.
BankSA Foundation
Investing in small, local charities helping children and young people realise their potential in South Australia and Northern Territory.
Employee programs & other community initiatives
Through our Workplace Giving Program #DoubleTheGood, we focus our impact on five key areas important to both our people and our purpose of creating better futures together. Westpac matches employee donations to more than 150 charities aligned to the following areas:
- Support in good times and bad
- Action on climate and nature
- Equitable and inclusive societies
- Health and wellbeing
- Westpac Group Foundations.
Related articles
Making inclusive employment fashionable
Launching on the scene in 2014, The Social Outfit started with a bold vision to kick-start the careers of refugee and new migrant women through beautiful and ethical fashion. With support from Westpac Foundation, it has triumphed to carve a name for itself in an extremely competitive industry while delivering on its social purpose.
Westpac Scholar determined to improve health outcomes in Australia
Early career researcher, Monica Phimmachanh is on a mission to advance cancer treatment in Australia. With the backing of Westpac Scholars Trust, she just completed a PhD at the Garvan Institute of Medical Research – work that could transform health outcomes for cancer patients.
Bringing joy to children with disabilities
Families of children with disabilities face numerous challenges and expenses to support their child’s everyday needs, but it’s the priceliess smiles that Morris Children’s Fund is delivering via its music therapy program that’s leaving the biggest imprint on parents and children alike.
Helping marginalised students reach their full potential
The Australian Business Community Network Scholarship Foundation (ABCN) is making a world of difference supporting marginalised students across Australia with their three-year Accelerate mentoring and scholarship program, supported by St.George Foundation.
Things you should know
In addition to establishing the foundations, Westpac Group continues to provide administrative support, skilled volunteering, and funding for operational costs for the Foundations, although they are not part of the Westpac Group.