Notice of 2019 Annual General Meeting
Notice of our 2019 Annual General Meeting (AGM) is now available.
Click here for more information.
Tax Residency Self-Certification
Recently we contacted select customers in regards to a new legal requirement for banks to confirm if their customers have tax obligations with any foreign countries. This requirement is due to Governments around the world, including Australia, introducing a tax information sharing arrangement.
For customers who have foreign tax responsibilities, based on Common Reporting Standards (CRS) we are required to provide certain information about them to the Australian Taxation Office (ATO) each year. The ATO may exchange this information with foreign tax authorities.
For further information regarding CRS, information can be found on the Australian Tax Office’s website. https://www.ato.gov.au/General/International-tax-agreements/In-detail/International-arrangements/Automatic-exchange-of-information---CRS-and-FATCA/?page=1
Planned upgrade – 10 November 2019.
Due to a planned upgrade, some services will be unavailable this Sunday, 10 November.
Internet and mobile banking will be unavailable intermittently between 12am and 6am (ACDT).
Secure SMS, SMS Banking & Alerts will be unavailable between 9.30pm and 11.30pm (ACDT). Please note you may be unable to use services that require SMS verification, such as making internet and mobile payments to new payees.
Your card and ATM transactions won’t be impacted.
We apologise for any inconvenience and thank you for your patience.
Planned upgrade – 3 November.
Planned upgrade – 3 November.
Due to a planned upgrade, internet and mobile banking will be unavailable on Sunday, 3 November between 1am and 4am (ACDT). Your card and ATM transactions won’t be impacted during this time.
Thanks in advance for your patience.
Issue affecting Secure SMS - 25 October 2019.
We are aware of an issue currently affecting Secure SMS codes and our team are working urgently to resolve this.
We apologise for any inconvenience caused and thank you for your patience.
Beyond Bank cuts home loan interest rates again.
We are pleased to announce that we will be passing on an interest rate cut of 0.14% p.a. to our variable rate home loans.
The announcement follows the recent decision by the Reserve Bank of Australia to cut the official cash rate and will apply to both new and existing lending.
"As a customer owned bank, we are always striving to pass on as many savings as we can to our customers,” said Mr. Nick May, General Manager, Customer Experience, Beyond Bank.
The new variable rates apply to owner-occupiers, investors and business accounts.
Mr. May acknowledged that the current lending environment is unique with rates at historically low levels.
"Decisions around rates are never as simple as they may seem as we must take into account the market conditions, our business performance and the impact on all of our customers, not just those with loans.
“It’s a constant balancing act as we very carefully consider the needs and demands of all our customers.
“We have now passed on a reduction of 56 basis points to many of our borrowers since June, which is a great outcome.”
The new rates come into effect on Tuesday, 22 October 2019.
Merger Announcement: Nexus Mutual Credit Union
We would like to advise customers of our plans in relation to a proposed merger with Nexus Mutual Credit Union.
A Memorandum of Understanding between our two organisations was signed on 17 September 2019. The merger is subject to due diligence and regulatory approval.
Nexus Mutual is a Melbourne-based credit union and has been serving members for over 50 years. They have over 6,000 members, two branches and $360m in assets.
Nexus Mutual is a dedicated credit union for the ExxonMobil community of employees, contractors and their families.
As customer-owned organisations, we are both committed to being the best for our members and the communities in which we operate. Together, we will have an even greater capacity to develop financial solutions that offer real value to members. Our people will continue to play a key role in ensuring that the combined business will grow and prosper in the years ahead.
Through this proposed merger, Beyond Bank’s strong national position as a clear alternative in the financial services market will be enhanced in both Melbourne and regional Victoria.
Both organisations also have strong relationships with local communities and we look forward to expanding and developing community programs once the merger is finalised.
Disability sector profits from unique bank change.
We've unveiled a unique new branch that has been designed especially for people with disabilities.
The Canberra city branch has been built and furnished after extensive consultation with key disability groups including Dementia Australia, Down Syndrome ACT, Marymead Autism Centre and Getaboutable.
After collating the results, Beyond Bank’s interior design team has made significant changes to its standard branch fit-out that include new textures, colours, lighting, flooring and signage.
“Beyond Bank’s core value is to be the best bank for the local community and that means that we need to ensure that banking remains accessible to everyone regardless of whether you are able-bodied or living with a disability,” said Mr. Nick May, General Manager, Customer Experience, Beyond Bank.
“All of us deserve the right to have financial freedom which comes from managing our own money and completing day-to-day transactions, it is a key part of being independent.”
Major changes include:
- Replacing dark purple carpet with lighter coloured flooring to improve depth of perception for people with dementia who can become fearful of dark spaces;
- Removing laminated countertops and installing stone and timber surfaces to make physical contact with the teller less confronting for those living with dementia;
- Installing soundproofing to meeting rooms to minimise external noise that can cause confusion and stress;
- Installing dimmable lighting technology and curtains to make the banking environment less likely to cause over-stimulation of senses;
- Providing a hearing loop for deaf customers who can tune their hearing aid to an internal banking channel;
- New, clearly worded signage in simple font to direct customers to key zones within the branch;
- Lowering teller counters to allow easier access for customers in wheelchairs or mobility scooters; and
- Staff training programs to upskill on ways to best assist customers with dementia and autism.
“We have considered every aspect of the banking experience and heavily invested in providing the right environment for all of our customers,” said Mr. May.
“If we have made life a little easier for those living with a disability in our community, then we have achieved our goal.”
Dementia Australia CEO Maree McCabe believes the changes initiated by Beyond Bank will have a positive impact for local people living with dementia.
“There are an estimated 447,000 Australians living with dementia today and of those, around 70 per cent live in the community,” said Ms McCabe.
"Banking is a routine task we can easily take for granted but for someone living with dementia, banking online or going into a branch can be stressful and overwhelming.
"By creating a dementia-friendly physical environment, with trained and aware staff, banks can support people living with dementia to remain financially safe."
Beyond Bank will monitor and review the branch over a three-month timeframe and is already considering rolling out the changes across its national network.
Community giving in 2019 reaches $650,000!
More than three hundred grassroots groups and charities across Australia have shared in a $650,000 cash windfall thanks to Beyond Bank’s unique annual giving program.
The money was made available through the Community Reward Account, a savings account which allows you to nominate your favourite charity, then once a year, we donate a percentage of your annual average balance to that charity.
It’s a very innovative way of fundraising that allows you to financially support your local community group or club.
Giving, as you know, is a very important part of our business and so we are thrilled at the way this account continues to resonate with our customers.
Year on year the amount we have been donating to our charities big and small has been rising.
Over the past 12 years, Beyond Bank has now distributed more than $2.5 million nationally.
And as we all know, seeing the impact even a small amount of money can make to local community organisations is a pretty special feeling.
So, thank you for helping us build better, stronger and more inclusive communities. We simply couldn’t do it without you!
Find out more the Community Reward Account www.beyondbank.com.au/reward
Funds unlocked for Griffith's Freebeez Lockers.
Griffith’s “Freebeez Locker” service is set for a major boost after Beyond Bank agreed to fund a significant expansion of the unique facility.
The customer-owned bank has donated $20,000 to supply twenty new lockers to address a critical need in the community to support young people living rough on local streets or couch-surfing with friends.
Founded and managed in a partnership between Linking Communities Network (LCN) and the Police Citizens Youth Club, the lockers are stocked with a sleeping bag, self-heating meals, first aid, personal hygiene needs, counselling contacts and a map to essential services like local toilets and showers.
The contents of the locker are adjusted seasonally so that in winter they contain beanies and hoodies and in summer they have caps sunscreen and insect repellent.
“The homeless population has dramatically increased in Griffith and there are a number of people sleeping rough due to the high demand on services and the 0.07% vacancy rate for rental accommodation,” said Ms Deb Longhurst, Manager Crisis Accommodation, LCN YouthLinks.
“This partnership is so grateful to Beyond Bank for the commitment to social issues and in particular homelessness, and the opportunity to continue to provide this valuable service.”
“It has been a real privilege to partner with LCN and the Police Citizens Youth Club in Griffith which is doing some outstanding work in reaching out and connecting with young people in the community who are finding life a little bit tough,” said Ms Karen Garrod, Riverina Community Development Manager, Beyond Bank.
“As a customer-owned bank, we are always keen to support local frontline projects that deliver real results and in turn, build better and stronger communities.
“Freebeez Lockers is making a positive difference and so for us, helping out was an easy decision.”
Beyond Bank has also announced a new partnership with local disability support group Ningana Enterprises, providing $10,000 towards its Community Access and Centre Based programs.
Established in 1965, Ningana assists some 100 people with a disability and their families across the Riverina with a range of services that include short term accommodation, supported independent living, community access programs and supported employment.
“Ningana Enterprises is very excited to partner with Beyond Bank and look forward to a long and mutually beneficial relationship. We intend to use this grant to introduce new IT opportunities for our participants, including new hardware, purchasing applications and a Smart Board,” said Fiona Durham CEO, Ningana Enterprises.
The donations will be made at a special ceremony to be held in Griffith on 21 August.