BayTrust Information

5 Quick Facts About BayTrust The Trust was formed in 1988 as the Trust Bank Bay of Plenty Community Trust to hold shares in the Trust Bank Group for the benefit of Bay of Plenty Communities In 1996 this share, along with all the other shares in the Trust Bank Group, was sold to the Westpac Bank and the sale proceeds of approximately $90m invested by the Trust Our name changed by dropping the “Trust Bank” part in 1998 and changed again to BayTrust in March 2006 to give the Trust a shorter more easily remembered name Our Area is from Katikati to Turangi to Cape Runaway including Rotorua, Taupo, Tauranga and Whakatane. Link here for Area Map We are known as BayTrust, but our official name is the Bay of Plenty Community Trust Incorporated Where does BayTrust get its money? The original fund resulted from the sale of the Trustbank shares to Wetspac Bank in 1996. The Trust now has a fund of approximately $210m (at 31 March 2019) invested in a carefully planned, diversified way, both locally and globally. Returns from these investments form the Trust’s income and are distributed to Bay of Plenty community groups by way of grants (and sometimes loans). The Trustees aim to re-invest enough income each year to cover inflation and some population growth in the Bay of Plenty, plus in good income years to put some funds aside to cover grants in poorer income years. What does BayTrust use its income for? Primarily to make grants to community groups serving the Bay of Plenty, in order to help build, strengthen and enhance present and future BOP communities.