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The Trust was formed in 1988 to meet the demands of the deregulated banking industry. The Government of the day decided that ownership of the Trustee Savings Banks should be in the hands of the Public, with the Trustees to hold in Trust for the community the assets of the Bank. Initially, the Trustees received a dividend from the Bank to distribute to the not-for-profit organisations in the respective bank regions. From modest beginnings in the late 1980's the Bank's profits grew significantly with donations to the community rising to over $12 million in 1996.
History records that the Trust Bank was sold to Westpac during the 1996-97 year and it is the proceeds from the sale that has been invested on behalf of the Community.