Bendigo Bank has pulled out of fundraising partnerships with community groups that have been drumming up business for corporate branches since 2004. According to Bendigo Bank, the program returned more than $18 million to community groups since inception. The bank told community groups however, that it had reviewed this part of its business and determined the contributions were “not sustainable”. Bendigo Bank recently announced a $514.6 million profit. Since now-chief executive Richard Fennell took over the consumer banking division that controls corporate and community banking in 2018, Bendigo Bank has closed 95 branches and 70 agencies.