The banks, which announced their merger in March, are focused on making a "real and meaningful difference" in the community and said the fund played an important role in supporting local groups and organisations.

Almost 93 per cent of the credit union's members voted for the merger which took place on April 1, with all its existing team members offered roles at the branch. Its systems are expected to integrate in early September and all data will be transferred without disruption to customers. The facility will be rebranded and the new look will be rolled out over the next few months.

Beyond Bank chief executive officer Robert Keogh launched the new community fund on Thursday and encouraged south-west charities and not-for-profit groups to apply for financial assistance.

"We see ourselves as being part of the community and the community's part of us," Mr Keogh said. "Strong communities mean a strong bank. The community actually owns this bank. We're a mutually-run purpose-driven business.

"Values are absolutely critical to us and one of those values is building a sustainable community," Mr Keogh said.

"That's why we've got the foundation that sits underneath this. That's why we're making a contribution of $100,000 as a starting point into this community."

Mr Keogh said he hoped the community support fund would attract interest from across the region.

"We know that the not-for-profit sector has had an incredibly challenging time through the pandemic but if anyone knows how to get the most value out of a dollar, it's always a grassroots organisation and that's why we are delighted to announce this initiative", Mr Keogh said.

"Together with our fantastic team in Warrnambool, we are looking forward to forming some wonderful partnerships with the many groups, clubs, and charities who, I'm sure, are the lifeblood of this vibrant and thriving community," he said.

Since it was established in 2007, the Beyond Bank Foundation has contributed more than $27 million to Australian communities - a sum that equates to a nine per cent of Beyond Bank's annual profit.

"In the 15 years since we started the foundation, Beyond Bank, which was founded more than 60 years ago, has grown to become one of the largest customer-owned banks in Australia," Mr Keogh said.

"That growth has undoubtedly come from our genuine commitment to local communities no matter where they are and we are proud to support some 5000 suburban and regional not-for-profits across our national network."

Beyond Bank has more than 290,000 customers, $8 billion in assets under management and more than 40 branches in New South Wales, South Australia, Western Australia, ACT and Victoria.

Applications for the community support fund are now open. There is no minimum grant size but individual requests will be capped at $15,000. Applications close June 30.

To apply go to beyondbank.com.au/grants

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