About Us
What is the 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 in 1998 and changed again to BayTrust in March 2006 to give the Trust a shorter more easily remembered name.
What area does the BayTrust cover?
There is a specific legal definition but broadly, our Area is from Katikati to Turangi to Cape Runaway including Rotorua, Taupo, Tauranga and Whakatane.
Where does the Trust 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 $145m (at 31 March 2012) 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 the Trust 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.
In the year to March 2012 the Trust paid out grants totalling over $2.12m to groups serving Bay of Plenty Communities.
Who's involved in the Trust?
The Trust comprises a Board of 12 Trustees chaired by Mr Gregg Brown of Rotorua. Trustees are appointed by the Minister of Finance, and are from the various communities the Trust serves.
Trust Office Staff comprise Bruce Cronin - Trust Manager, Terri Eggleton - Community Development Advisor, Norma Kelly - Trust Administrator, Yvonne Baldock - Trust Secretary.