Managing director Marnie Baker this week said the investment has supported important local sporting, infrastructure, education, arts and cultural initiatives and other unmet community needs.

"Ensuring healthy and vibrant communities has never been more critical than it is today. This investment goes directly to the heart of local communities - supporting critical social networks and infrastructure.

"It's pleasing we've seen a healthy increase of more than $2 million on last year's community contributions from our unique and internationally-recognised Community Bank network."

Since its establishment 21 years ago, the model has returned more than $229 million to Australian communities, and a further $57 million in dividends to local shareholders.

In many cases, these investments have unlocked further government and local business funding, realising community projects that have exceeded many multiple millions of dollars nationally - as well as supporting local job generation and economic growth.

Across central and northern Victoria, the past 12 months has seen the Avoca and Maldon branches celebrate their 20th anniversary, while the Heathcote branch expanded to Nagambie.