July 2010

Don’t let your holiday end in disaster

Going on an overseas holiday is a fantastic way to relax and recharge your batteries while seeing a new and exciting part of the world. And with airfares coming down in price, more Australians are leaving our shores than ever before.

One thing that can often get forgotten in the excitement of planning a holiday is how you’ll access your money while travelling to keep security high and costs low.

Savings & Loans offers members a variety of ways to access their funds overseas, including Travelex Cash Passports, which are available in five currencies and help keep your money safe.

Travelex Cash Passports offer the convenience of accessing your funds at thousands of ATMs or stores displaying the Visa symbol around the world, with the security of having your funds separate from your day-to-day transaction account.

The cards can be pre-loaded with funds and then topped up using BPAY and Internet Banking while you’re travelling, so you can limit your spending if you choose to. Travelex Cash Passport cards are available in a range of currencies, including Euros and US dollars, to help you avoid currency conversion fees and lock in your exchange rate.

Your card is also protected by a personal identification number (PIN) and all cardholders have access to a 24 hour free global emergency assistance line to help if you lose your card, have a medical emergency or need to get a message home.

Each Travelex Cash Passport comes with a free back-up card, which can be kept in a separate and secure place so you’re never left without access to your cash.

Your Savings & Loans Visa Debit Card can also be used around the globe at any ATM or merchant displaying the Visa symbol. Savings & Loans Visa Care Cards can also be used overseas, but no interest-free periods apply to cash withdrawals.

Before you leave, contact Savings & Loans to order a new EMV ‘chip and pin’ card, which is more convenient and has increased security protection, as some European merchants may not accept a card without a chip.

Other tips to keep safe when travelling include:

• Make sure you have adequate travel insurance, which can be arranged by dropping into a Savings & Loans branch, calling 13 11 82 or using our website.
• Have more than one way to access your money while you’re away – consider taking a Travelex Cash Passport, Visa Debit Card or Credit Card, foreign cash and travellers’ cheques – and store your cash and cards securely.
• Keep personal identification numbers and passports separate from your cards or travellers’ cheques.
• Order a Cash Passport card in the currency of the country you are visiting or spending the most time in. This way you can ‘lock-in’ an exchange rate rather than having it fluctuate while you’re on holiday.
• Photocopy your passport, driver’s licences, etc. and give a copy to someone not travelling with you, as well as stashing another copy in the bottom of your suitcase (do not make copies of your cards!).
• Visit smartraveller.gov.au to check on the recommended immunisations and any required visas for the countries you are visiting, and for other handy hints.
• Visa cards and Travelex Cash Passports can be cancelled 24 hours a day, no matter where you are in the world, so keep the contact numbers with you at all times.

For more information on how to keep safe and secure when travelling and to get a list of emergency contact numbers, drop into your nearest branch, call 13 11 82 or visit savingsloans.com.au

It all comes back to you

Credit unions band together to fight big banks

Australia’s credit unions and building societies have launched an $8 million advertising campaign to encourage consumers to move away from banks.

Peter Evers, Savings & Loans’ Managing Director, said the campaign shows bank customers that there is an alternative to companies that put the interests of their shareholders ahead of their customers.

“More than 4.5 million Australians have already seen there’s a better option and bank with a credit union or building society,” said Mr Evers.

“While the banks focus on making ever-larger profits for their shareholders, any profits we make are directed back into creating better products for our members.

“We’re involved in our local communities and know that there’s more to business than the bottom line.”

More than 80 credit unions and building societies have joined forces for the campaign.

“Credit unions generally offer the same products as banks, are easy to access, and are just as safe as banks – particularly as we don’t take large risks, and like to support everyday Australians,” said Mr Evers.

“Our credit union has been around for more than 60 years and our members have access to more than 60 branches and 3,100 ATMs across the country. We’re governed by the Banking Act and APRA, the same prudential regulator as the banks, and we’re covered by the same Deposit Guarantee.

“We offer the same products as the banks, but with a focus on reducing costs for members rather than making money for shareholders.”

Here for you in tough times

Support available in good times and bad

Savings & Loans has always believed in doing the right thing by our members, particularly when times are tough.

If you're struggling with your commitments and need help to get back on your feet, then now is the time to call us.

We can work with you to negotiate repayment plans, set up a savings plan, consolidate your banking or provide introductions to community organisations that can assist you.

Getting in touch with us at the first sign of potential difficulty means you might be able to avoid extra fees and charges, and keep your loan in check.

If you think your financial problems might be more than temporary, we might be able to help you restructure your loan to give you some breathing space.

Remember, we're here for you in the good times and the bad. We only exist to serve you, our members, and help you take control of your financial situation.

So call 13 11 82 now to speak to us about how we can make things easier for you.

Merger proceeding on schedule

The merger between Australian Central and Savings & Loans continues to proceed on schedule, with integration of the two credit unions to take place by the end of the year.

Managing Director Peter Evers said an enormous amount of behind the scenes work was taking place to bring the two credit unions together.

“This is by far the biggest project undertaken by either of our credit unions, and staff from right across the organisation are involved in making the merger a success,” said Mr Evers.

“At this stage much of the work taking place isn’t visible to members but that will change over the next six months as the new credit union really begins to take shape.

“We’ve already seen the first major change as a result of the merger, with Australian Central and Savings & Loans now operating out of one branch in Darwin’s central business district.

“The move was a great success, with very little impact on our members.”

A new name and visual identity are also being developed, which members will be asked to approve at the merged credit union’s first Annual General Meeting in October.

“Our staff are also working to develop the products that will be offered by the new credit union, which will take the strongest elements of both Savings & Loans and Australian Central,” said Mr Evers.

“We’re committed to bringing together the products currently offered by the two credit unions, with the aim of offering an improved range of products and services to members.”

Members’ June statements include details on the first changes to fees and charges as a result of the merger, with Australian Central and Savings & Loans aligning lending and service fees.

“16 fees have been abolished or reduced for members in our Savings & Loans division, while 10 are being removed or abolished from our Australian Central division,” said Mr Evers.

“These are the first changes that most of our members will experience as a result of the merger, and sets the tone for what they can expect in the future.”

Mr Evers is excited about announcing more changes to members, including the improved range of products that members can experience, in the coming months.

“These most recent changes come on top of rate and fee improvements to Savings & Loans’ Retirement & Pension account on 1 December to bring it in to line with Australian Central’s Club 55 account,” he said.

“Australian Central also reduced the electronic declined fee and BPAY transaction fee for members in December.

“One of the main reasons for the merger was to improve the range of products available to all our members, and I think they’ll really appreciate the value their new credit union will offer.

“The changes will be progressively introduced, and we’ll be in touch with members well before the products we offer are varied in any way.”

Members with any queries about the merger should read the merger information section of the website, or email merger@savingsloans.com.au

Darwin parties with Savings & Loans

The Top End partied in May, with 7,500 people enjoying Savings & Loans BASSINTHEGRASS, Darwin’s biggest music festival.

Some of Australia’s biggest and best acts performed for the crowd, including Silverchair, Hilltop Hoods, Empire of the Sun and Jessica Mauboy.

Savings & Loans staff were on-hand for the festival, keeping the crowd stocked up with drink coolers and beach balls throughout the day. To relive the fun, look at the photos on the Savings & Loans BASSINTHEGRASS website.

Community groups sharing in grants

Thousands of dollars up for grabs

A range of community groups from around Australia have received a share of $50,000 through Savings & Loans’ Positive Impact Grants program.

The program rewards community groups or sporting clubs for volunteering their time to a worthwhile cause, such as helping disadvantaged people or doing conservation work.

Senior Manager of Corporate Social Responsibility Brent Hill said that the Positive Impact Grants have been used to fund a range of projects, including the purchase of new uniforms, trips to interstate competitions and sports equipment.

“As well as giving support to local clubs, Positive Impact Grants encourage people to give back to the community in ways they might not usually think of,” said Mr Hill.

Community groups interested in getting a Savings & Loans Positive Impact Grant should visit the Community section of the Savings & Loans website for more information.

Credit unions record strong growth

Figures released in June by the Australian Prudential Regulation Authority show that total assets of credit unions and building societies increased by nearly $5 billion in the year to March 2010.

Total assets for the mutual banking sector increased from $67 billion to $71.8 billion. The sector also recorded double-digit loan growth, growing housing loans by an outstanding 10.4 per cent.

“A bigger, stronger sector is good for our members,” said Louise Petschler, CEO of credit union and building society industry group Abacus – Australian Mutuals.

“Because credit unions and building societies are mutuals, it all comes back to our members. And the way we do that is through putting our profits back into better products, competitive rates, and outstanding customer service for our members.

“Unlike banks, mutual financial institutions don’t pay dividends to external shareholders. They put their members first.”

APRA’s Quarterly Credit Union and Building Society Performance Statistics also noted that “total housing loans increased by 10.9 per cent to $32.8 billion over the year” and for building societies, total housing loans “increased 9.4 per cent to $15.5 billion.”

Housing loans accounted for 84 per cent of total gross loans and advances for credit unions, and 87.7 per cent for building societies.

Become an investment expert

Free investment seminars help build your portfolio

Are you thinking about becoming a property investor or interested in finding out where in Australia has the lowest vacancy rates and highest returns?

A series of seminars being held over the next few months can help you start building your investment property portfolio, and give you tips on how to make it grow safely.

The sessions are hosted by our seminar team and advisers and feature special guests with an insight into specific areas of investing.

Property investment seminars inform members about important aspects of portfolio management and tips to find the right locations, including:

• How to use equity to start your portfolio and help it grow
• Market updates and perspectives
• Tax strategies to help maximise returns
• Ownership structures
• Buying or building for growth

The next series of property investment seminars in the Adelaide metropolitan area feature advice from property investment service Seed Property and BMT Quantity Surveyors, who specialise in tax-effective development and management.

Property investment seminars are also planned for regional South Australia and Perth with special guests to be confirmed.

Hold a seminar in your office

If you’re a manager or business owner then speak to us about organising a seminar tailored to your staff, held at the location of your choice. Our qualified Financial Advisers will develop a seminar that meets the needs of your staff and their circumstances.

The seminars are an excellent and inexpensive tool for recognising the needs of your staff and helping them reach financial security.

Email our seminar team at seminars@accu.com.au to find out how a personalised financial seminar can benefit your staff.

Upcoming Property Investment Seminars

Adelaide North

Tuesday 13 July
Northern Connections, Unit 2/7 Philip Highway, Elizabeth
6:00pm for a 6:15pm start

Adelaide West

Wednesday 14 July
West Adelaide Football Club, 57 Milner Road, Richmond
6:00pm for a 6:15pm start

Adelaide North-East

Tuesday 20 July
Australian Central Modbury Advice Centre, 106 Reservoir Road
6:00pm for a 6:15pm start

Adelaide South

Tuesday 27 July
Tonsley Hotel, 1274 South Rd, Clovelly Park
6:00pm for a 6:15pm start

Adelaide West

Wednesday 28 July
The Lakes Resort, 141 Brebner Drive West Lakes
6:00pm for a 6:15pm start

Mount Barker

Tuesday 3 August
Mt Barker Golf Club, Bald Hills Road
6pm for 6:15pm start

Nuriootpa

Wednesday 11 August
Vine Inn, Murray Street
6pm for 6: 15pm start

Perth

Tuesday 17 August
Mt Lawley Golf Club, Walter Road, Inglewood
6pm for 6:15pm start

Mount Gambier

Tuesday 24 August
International Motor Inn, Jubilee Highway West
6pm for 6:15pm start

Murray Bridge

Wednesday 1 September
Ramblers Football Club, Ramsay Street
6pm for 6:15pm start

Sign up to save!

Savings & Loans’ regular e-News provides you with the latest information from your credit union, as well as exclusive discounts and special offers from a range of outlets.

You can choose the type of information you receive from Savings & Loans, whether it’s special offers, product changes or the latest news, so you’re always in control.

To sign up for e-News, visit the Savings & Loans website.

Travel Europe’s waterways in style

The Savings & Loans Travel Centre has two special offers for anyone considering a fantastic holiday cruising through Europe.

Tours ranging from 15 days to three weeks are available in this special offer, which includes airfares, accommodation, most meals and airport transfers.

Both tours feature the luxurious MS Sound of Music, one of Europe’s leading river cruise ships, and take in historic cities, romantic villages and dramatic scenery between Amsterdam and Budapest.

Classical Europe

15 Days from $4,695* per person, twin share including $380 port charges.
Departing 26 March 2011
Includes:

• Return airfare (not including taxes*) if booked by 30 September 2010
• 14 nights cruising aboard the stylish MS Sound of Music
• 41 delicious meals
• Complimentary wines with dinner
• Visit 18 cities, towns and villages
• Cruise along the canals of Amsterdam
• Melk’s Benedictine Abbey
• Vienna city tour
• Nuremberg’s World War II sights
• Historic Budapest
• Home to airport transfers*

Classical Europe with Prague and Paris

21 Days from $7,095* per person, twin share including $380 port charges.
Departing 23 March 2011
Includes:

• Return airfare including taxes* if booked by 30 September 2010

• 14 nights cruising aboard the stylish MS Sound of Music
• 49 delicious meals
• Complimentary wines with dinner
• Visit 20 cities, towns and villages
• Cruise along the canals of Amsterdam
• Melk’s Benedictine Abbey
• Vienna city tour
• Nuremberg’s World War II sights
• Historic Budapest
• Paris’ famous sights over three nights
• Guided tour of historic Prague
• Home to airport transfers*