JULY2017
MyNews Official launch issue Welcome to Bankstown members Get a better deal on your home loan Banking on your mobile
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Welcome A message from our CEO, Mark Genovese I would like to start by thanking the members of Bankstown City Credit Union for placing their trust in us to continue to provide the excellent service and care they have received for over 50 years. We successfully completed the merger with Bankstown City Credit Union in early June and their rebranding to Bankstown City Unity Bank has been well received. As promised we have been wasting no time in rolling out new products and services and will be directing significantly more resources towards engaging with existing members and attracting new members to our member owned bank. I would also like to take this opportunity to thank members who participated in our member survey. We received an excellent response and the feedback and views expressed will certainly be incorporated into our future plans. A summary of the outcomes of this research will be shared with members once we have collated and reviewed the over 1000 responses received. Your bank has been performing strongly and we have had a memorable year with the launch of our tech hub, Gunthers Lane in Bathurst, the introduction of a new Banking App, Apple Pay, Samsung Pay and Android Pay, the launch of a new web page, our conversion to a mutual bank and our merger with Bankstown City Credit Union. So as you can see we certainly have not been resting on our laurels. We have also reached a significant milestone as our assets now exceed One Billion Dollars, we employ over 150 staff and have 26 service centres located all around the country including Collie and Fremantle, Gulargambone and Trundle, and Moranbah and Mackay. The year ahead will see the introduction of the New Payment Platform (NPP) that will allow payments to be made between bank accounts within seconds, 24x7, 365 days a year. We will be offering this service to our members from the day it is launched. As part of our preparation we will be contacting members to ensure we have your correct mobile and email addresses, as that will play an important role in the roll out of this service. During times where the trust in large banking institutions is at records lows, our member owned bank has a wonderful opportunity to highlight that our model is one that genuinely cares for the financial well-being of members, as we are not driven to maximise profits for shareholders which results in poor outcomes for customers. On behalf of all of the team I would like to thank you for your continuing loyalty, which we certainly do not take for granted.
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Branch celebration day Wednesday,10 May 2017 Our branches have now all been rebranded and they are looking good! To celebrate the change, members were invited to visit their branch and join us in celebrating our new name and look. Each branch planned their own special day of member raffles, morning teas and giveaways making sure this historical milestone was celebrated in style.
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Protect yourself online
Welcome to Bankstown members
Being aware of scams, as well as learning how to recognise scamming methods will help you stay one step ahead.
We would like to extend a warm welcome to Bankstown City Credit Union (BCCU) members to our mutual bank family.
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Secure your personal details Shred your bills and other important documents before throwing them out Keep your passwords in a safe place Limit the amount of personal information you share on social media sites Make sure you update your security software and back up content Choose strong passwords, ideally with a mix of upper and lower case letters, numbers and symbols and update them regularly If you lose your phone report it to your provider as soon as possible to get the phone blocked Protect your WiFi network password
Don’t get hooked by the bait Never send money or give VISA credit card details, online account details or copies of personal documents to anyone you don’t know or trust Delete any suspicious texts, pop-up windows or emails Do not open suspicious attachments in emails from unknown senders
Don’t bank or purchase online via public networks Switch your device to a cellular network to conduct banking and online purchasing Using a VISA Debit Card can be a good way to make online purchases as you don’t run as high a risk of going into debt if you do become the victim of fraud
On 2 June 2017, Bankstown City Credit Union officially merged with Unity Bank and changed its name to Bankstown City Unity Bank (BCUB). We are excited about continuing to provide a mutual alternative to the major banks for our new and existing Bankstown members and we are looking forward to growing even stronger in the local community of South West Sydney. If you have not done so already, we encourage BCUB members to visit our new website and catch up on all the latest news, experience new products or maybe drop in and say hello at our newly branded Bankstown branch.
CHANGED YOUR DETAILS? If you have recently changed address or any other contact details, please call us or log on to your internet banking to make the change online.
One billion dollars strong! We are proud to announce that we have reached a significant historical milestone and have exceeded One Billion Dollars in assets as of 2 June 2017.
Research your apps before you download Before downloading games and other apps, research them first. Check ratings before purchasing or downloading and do a quick online search to check authenticity
Stay up to date and protect yourself online with scam news via the ACCC’s website scamwatch.com.au
From our humble beginnings we now serve 40,000 members, employ over 150 staff and provide a network of 26 branches across Australia capital cities and regional communities. We have merged with several exceptional credit unions and strengthened our community relationships. Coupled with this is our genuine care for the financial well-being of our members, whose loyalty and trust we do not take for granted. We would like to thank members for your support throughout this exciting journey and we look forward to continuing to be your trusted banking partner.
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Get a better deal on your home loan Are you on a good deal? If you’ve had your loan for more than 5 years chances are your circumstances and lifestyle may have changed. Take time to look at your current and future circumstances like a baby on the way, kids moving out, redundancy or retirement. These life changes will help you create a ‘wish list’ for your home loan like ‘more flexibility’ or ‘more certainty’ and help determine the features and benefits you’re looking for. Locate your current home loan contract or ask the bank for another copy. You’ll also need to grab your most current bank statement. Look at things such as: Interest rate you’re currently paying
as any upfront and ongoing fees and charges relating to the loan. Low fees can really make the difference for your home loan – take a look at our low comparison rate compared to the banks.
Is there a cost for switching? If you have a fixed rate loan, you may be required to pay an exit fee from the bank. To calculate how much you might be up for you will need to contact the bank where your current loan is. From here we can work out how long it will take for you to start receiving a benefit, i.e. when do the savings of the new interest rate outweigh the exit costs of your original home loan.
Type of loan – fixed or variable, interest only, split rate loan Fees such as annual fees, redraw fees, early repayment fees, etc. Do you have features such as an offset account; redraw facility, or any restrictions? From here, record the details of your loan and then list any changes you’d like for your new home loan.
Choosing the right home loan With so many loan types to choose from it’s no wonder people get confused. Our experienced team of home loan specialists are available to help you make the right decision for your situation and find one that meets your needs.
What’s a comparison rate? The comparison rate is a tool that you can use to help identify the true cost of the loan. It takes into account the interest rate, as well
Make the switch today Switching is easy. Simply apply online, visit a branch or call us. Once we receive your application you can relax – we do all the running around for you.
How we compare A recent comparison has shown that our members can save up to $66,536 in interest charges over the life of their loan when compared to other home loan providers*.
Our Bank offers one of the best value home loans in Australia. See how we compare for an owner occupied $250,000 home loan over 30 years:
Variable Rate p.a.*
Comparison Rate p.a.†
Loan Repayment p.m.
Total Interest Payment
Amount Saved
Your Bank
4.09%
4.15%
$1,207
$184,357
NAB
5.32%
5.45%
$1,391
$250,893
$66,536
Westpac
5.32%
5.46%
$1,391
$250,893
$66,536
CBA
5.25%
5.39%
$1,381
$246,983
$62,626
ANZ
5.20%
5.30%
$1,373
$244,200
$59,843
* Bank’s Standard Variable Home Loan Rates correct as at 19th June 2017, taken from the institution’s website. † Bank comparisons are based on $250,000 loan over 30 years secured with monthly repayments. (Taken from bank’s website 19th June 2017) WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
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Paying with your VISA Credit or Debit Card has never been easier
Banking on your mobile Banking with us has never been so easy and convenient with our mobile banking APP. It comes with an abundance of features to make banking on the go quick and easy. Fingerprint login (iPhone 5S and above and selected Android devices) Pay bills via BPAY® Transaction history Overseas notifications (tell us that you’re going overseas)
Android Pay The convenience of a mobile wallet is now in your hands. With Android Pay you can now tap and pay with your smartphone. Tap. Pay. Done. It’s that easy.
Place a temporary block on your Cards Quickly view your account balances without the need to login to the app PIN change (debit and credit cards) Transfer between accounts Report lost or stolen cards Available for download for Unity Bank, Reliance Bank and Bankstown City Unity Bank for iPhone and Android smartphones.
Apple Pay Pay with your VISA Credit or Debit Card using Apple Pay. Using Apple Pay is simple and it works with the devices you use every day. Your card information is secure because it isn’t stored on your device or shared when you pay. Paying in stores, apps and on the web has never been easier, safer, or more private.
Follow us on social media Like our pages to keep up to date with us.
facebook.com/UnityBankAU @UnityBankAU #UnityBankAU
facebook.com/RelianceBankAU @RelianceBankAU #RelianceBank_AU
Samsung Pay Go walletless, Samsung Pay is here. Use you Samsung phone to make a payment anytime with Samsung Pay.
facebook.com/BankstownCityUnityBank @BCUB_AU #BCUB_AU
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Sponsorships, events and community Upcoming events War on the Wharves 4 MUA Charity Fight Event 2nd August
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Bathurst Cool Climate Wine Show 17-20th October Reliance Bank Panthers Football Clinic
Reliance Bank Royal Bathurst Show
Bankstown Bites Food Festival 29th July
MUA & CFMEU WA Conference
Reliance Bank scholarship winner Ruth Moore
Vale Malcolm Samuels One of our longest serving members and a credit union pioneer recently passed away. Malcolm Samuels a founding director of Gilbarco Credit Union and a long serving director of Reliance Credit Union remained a passionate believer in the important role a member owned institution plays in assisting people achieve financial well-being and was a regular attendee at our Annual General Meetings. Malcolm was responsible for the formation of several credit unions in the 1970’s as he assisted community groups and workers establish their own credit unions at a time when credit was difficult to secure. We will miss his passion and friendship and will always appreciate the legacy he leaves behind.
Left to right around table: Eric Flew, Harry Propsting, Ted Mitchell, Ron Shapiro, Malcom Samuels, Quentin Jones, Joan Bull and Frank Baker.
Western Union Online International Telegraphic Transfer Send money overseas anytime, from anywhere. All you need to do is log into your internet banking and register for SMS One Time Passwords. Once registered, log on and select payments and then click on international transfer. You will then be prompted to input the details of where you wish the money to be sent and from what account. It is that easy!
to more than 200 countries and territories, in over 40 different currencies from the comfort of your home computer. If you would prefer for us to perform these international transfers on your behalf then we are still more than happy to do so. We are still able to do this at any of our branches.
International payments via internet banking gives you the capability of reliably and conveniently sending money overseas MyNEWS July 2017 / 7
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Our Visa Credit rated best low rate credit card by Mozo
MOZO, one of Australia’s biggest comparison websites, compared 203 credit cards on its database to find the best low rate credit card for cardholders with an ongoing revolving balance. So just don’t take our word for it, the experts agree that our VISA Credit Card gives you exceptional value. Up to 55 days interest FREE on all purchases
Low rate 10.12% p.a.
Most credit cards that offer an interest free period only allow you the benefit of an interest free period if the balance is paid off in full each month. With our card, all NEW purchases receive up to 55 days interest free, saving you money.
Same low rate for all purchases and cash advances.
Keep more money in your pocket, make the switch today
No annual fee for the 1st year The fee is waived for the first year. In addition any member with an All in One Home Loan will be exempt from the annual fee, saving $60 p.a.
Low introductory rate An introductory rate of 7.99% p.a. for the first six months on all transactions – including balances transferred from another credit card or store card.
Interest Rate subject to change without notice. Eligibility criteria, terms & conditions, fees and charges apply.
1300 36 2000
13 24 40
1300 65 4477
02 8263 3277
02 6334 8887
02 8263 3277
mail@unitybank.com.au
mail@reliancebank.com.au
mail@bcub.com.au
unitybank.com.au
reliancebank.com.au
bcub.com.au
Level 7, 217 Clarence St Sydney NSW 2000
203-209 Russell Street Bathurst NSW 2795
64 Kitchener Parade Bankstown NSW 2200
PO Box K237 Haymarket NSW 1240
PO Box K237 Haymarket NSW 1240
PO Box K237 Haymarket NSW 1240
Unity Bank Limited ABN 11 087 650 315 AFSL/Australian Credit Licence 240399. Reliance Bank and Bankstown City Unity Bank are divisions of Unity Bank Limited.
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