Community Bank Freshwater is celebrating its 21st year in business, and Michael Sims is on the cusp of reaching his 40th year as a banker. What better way to celebrate than to pop into the branch, open an account, and see your banking pursuits benefit the community.
In 1984, at 19 years of age, Collaroy Plateau’s Michael Sims entered the banking profession with the State Bank of New South Wales. Almost four decades on, and in his business development role at Community Bank Freshwater, Michael’s State Bank foundations to put the customer first at every stage are proving more valuable than ever.
“When I started out, bank managers were often one of the highest respected members of the community,” Michael explains. “Over time, that’s changed, with the more profit-driven business models often neglecting the crucial, fundamental importance of always working in the best interests of the customer.”
As the State Bank of NSW went through various takeovers and restructures in the 1990s, becoming ever more corporatised, profit-driven, and shareholder-focused, Michael found himself drawn to the Bendigo Bank operating model.
“The Bendigo Bank ethos, which long-serving managing director Rob Hunt was instrumental in weaving into the bank’s DNA, was a simple three step decision-making hierarchy,” says Michael. “Every action you take should be firstly in the best interests of the customer, secondly in the best interests of the community, thirdly in the best interests of the bank.”
Customer. Community. Bank. In that order. Simple.
In 2003, Michael moved to Bendigo Bank, taking up the role of Northern Beaches’ Business Banking Manager, before more recently becoming Community Bank Freshwater’s Business Development Manager.
“The community bank model aligns with what I see as the most effective and productive way for a bank to serve its customers and community,” says Michael. “Within the framework of Community Bank Freshwater is the stipulation that 80% of the profits generated from banking operations are put back into the community via grants, scholarships, working capital for local projects, things designed to enhance the community.”
In essence, this means that when you bank with Community Bank Freshwater, whether it’s paying off your home loan or running your small business, profits generated then go directly into sporting equipment for the local sports clubs, life-saving equipment for the surf club, scholarships for promising students to further their studies, all manner of avenues and funding channels to create opportunities all designed to enhance the community.
“Obviously banking has evolved, and digital banking plays a big role,” explains Michael. “But even within that context, where there is less demand for people doing face-to-face banking in the branch, we still pride ourselves on the fact that our customers can call us and never deal with 1300 numbers, always with local staff, always with the express dedication to solve whatever problem a customer has.”
The only time Michael’s phone is off is when he’s dealing with a customer but, “That degree of availability holds massive appeal and value to our customers in the community,” explains Michael. “And that’s where Bendigo Bank has created a brand that’s so widely respected, and where Community Bank Freshwater separates itself from other banks.”
Head to 9-15 Lawrence Street, Freshwater to say G’day to Michael, Kasey, and the Community Bank Freshwater team. Follow @communitybankfreshwater on socials and call 9939 6744 for more info.