Directors’ Declaration

For the year ended 30 June 2009

Savings & Loans Credit Union (S.A.) Limited

1. In the opinion of the Directors of Savings & Loans Credit Union (S.A.) Limited (the Credit Union):
a) the financial statements and notes are in accordance with the Corporations Act 2001, including:

• giving a true and fair view of the financial position of the Credit Union and the consolidated entity as at 30 June 2009 and of their performance, as represented by the results of their operations and their cash flows, for the year ended on that date; and
• complying with Accounting Standards in Australia and the Corporations Regulations 2001;
• the financial report also complies with International Financial Reporting Standards as disclosed in Note 1; and

b) there are reasonable grounds to believe that the Credit Union and the controlled entities identified in Note 32 will be able to pay their debts as and when they become due and payable.

Signed in accordance with a resolution of the Directors:

W. R. Cossey, Chairperson
Dated at Adelaide this 26th day of August 2009.