January 2014



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January 2014

January 2014
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A message from our CEO

Welcome to the January edition of Pathways Magazine. I hope you and your family have enjoyed a wonderful Christmas holiday and are now settling into a brand new year.

Over the past year we have remained true to our values, placing customers at the centre of everything we do. Whether through our customer-first principles, our competitive banking, our community support or our financial advice services, we’re committed to providing another way to bank.


2013 was a great year for our organisation, here are just a few of our achievements:

  • The Beyond Bank Australia Group recorded a profit of $23.2m;
  • After more than 20 years, we relocated our Adelaide administration office and branch to larger, more energy efficient premises at 100 Waymouth Street;
  • We conducted a Fees and Charges review that is estimated to deliver $1.8m a year in savings to our members;
  • We announced our intention to pursue mutual bank status and consolidate our four brands into one single national brand;
  • We successfully merged with Alliance One Credit Union, welcoming an additional 5 new branches, 16,000 members, 53 staff and approximately $233m in assets to the Beyond Bank Australia Group;
  • Eastwoods Wealth Management (now called Beyond Bank Wealth Management) was awarded ‘Licensee Select SA Practice of the Year’ for the seventh time;
  • Our Community Reward Account, with the generous support of our members, supported 290 community groups, not-for-profits and local charities across Australia;
  • Our customer satisfaction rating increased from 92% to 95%; and
  • Key objectives for 2014 include:
  • Further refinement and modernising of our business;
  • Increased investment in products and services for members;
  • Continuing to raise the awareness of our new brand across all markets;
  • Continuing to diversify our business;
  • Increased investment in the skill development of our staff; and
  • Continuing the tradition of strong financial performance.

I hope the year ahead is a fantastic one for you. For now, let’s get it off to a great start with our new-look magazine, Pathways.


Robert Keogh

 

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Talk, listen, ask, learn

At Beyond Bank, we have a range of social media channels that enable you to stay in touch with everything we are doing, whether it’s special offers, competitions, advice or community support.
  • Visit us on Facebook, Twitter or our Blog where you can: Talk to us and ask for our advice;
  • Leave feedback for us;
  • Read our discussions about banking tips, product advice and community involvement;
  • Learn about our products and services; and
  • Find out about our Volunteering Program and our volunteering opportunities.


We look forward to hearing from you.

www.facebook.com/beyondbank
www.twitter.com/beyondbank
www.wearelistening.com.au

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Our West Lakes Branch: a concept for the future

Beyond Bank’s first concept branch was officially opened in South Australia in October 2013.

The branch incorporates a new design, new technology and a new approach to delivering an experience that puts customers first by offering a welcoming environment focused on advice based services. Features at the new branch include:

  • “The Deck” – a new way to assist our customers with their transaction needs without barriers between them and our staff;
  • Video conferencing – allows our customers to link with product specialists to obtain expert advice;
  • A new member lounge area – our customers can sit in comfort while waiting for our staff or while researching our products;
  • iPads – within the customer lounge these allow customers to research our products or utilise a range of apps aligned with housing and car purchasing;
  • Audio visual signage – by using digital signage rather than posters, we’re able to reduce the amount of paper we use and create a more environmentally friendly branch;
  • Guest Wi-Fi – our customers can relax in the lounge area and utilise our free Wi Fi;
  • Free coffee & filtered water – customers can enjoy a coffee from our machine or a glass of water from our Puratap; and
  • Laptops – our staff are equipped with laptops connected to our corporate Wi-Fi so they can move freely throughout the branch to serve our customers in any area of the West Lakes Branch.

If you’re in the West Lakes area, visit the branch and discover a new way of banking.
Elza and her expert team are ready to offer the best service and advice to you.
 

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The other way to drive: managing car finances

When it comes to better managing our everyday expenses, the cost of buying and maintaining a car is a major part of that challenge for most Australians.

Whether it’s the initial purchase, registration, petrol or servicing, many of us struggle to keep on top of the costs. But there is a smarter way. At Beyond Bank, we’ve introduced a
valuable tool to help you budget for car expenses, our Car Budget Account. Surveys show that our most popular medium to large sized cars can cost between $200 and
$250* per week to keep them on the road, so cars certainly form a major component of our living costs.

Since most of us need a mode of transport, these costs are unavoidable. So the best approach is to budget for these expenses, not necessarily think that we can significantly reduce them.

Our Car Budget Account is a new and specialised account that fills a previous gap in the market. It helps you to track expenses, budget and pay bills while also reducing interest charges on your car loan with us.

The Car Budget Account can be linked to your car loan, which you can use to build up savings to cover insurance, registration, fuel, servicing and repair costs.

A dedicated Visa Debit card linked to the account can be used to pay these expenses and there are generally no fees incurred if you pay through popular payment channels. On top of that, the balance of the account reduces the interest you pay on eligible loan products by working as an offset facility.

With an account that allows you to easily track and manage expenses, you won’t be caught out the next time all your bills hit at once.

It’s a smarter way to manage car-related expenses and can help free-up income in the
weekly budget.
*RAA’s 2013 Cost of Vehicle Ownership survey:
http://www.raa.com.au/pageaspx?TerID=651

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A starter’s guide to property investment

Australians have always had a love affair with property. For many of us, there’s nothing like bricks and mortar to invest in.

In the current economic climate, with interest rates low, many people are taking advantage and joining the ranks as homeowners, either directly or through their Self Managed Super Fund.

With that in mind, we have provided a starter’s guide to property investing. This list of do’s and don’ts is designed to highlight the various things to consider when buying property. Of course, if you are thinking of purchasing, it’s worth discussing the strategy with a qualified adviser, especially if you are considering acquiring property through a Self Managed Super Fund.

Do – Define your goals
A successful property investment depends on your goals, be they in the form of a high level of rental income or long-term capital gains.

Do – Diversify
If you already own a home, putting all your resources into property in the same area could leave you more exposed to a downturn in the property market.

Do – Reassess your insurances
One of the main goals of income protection and life insurance is to extinguish debt if you can no longer service it.

Don’t – Over-borrow
Property is generally a long-term investment, and it’s likely you will experience a range of interest rate scenarios over time – so don’t over-borrow in the current low interest rate environment.

Don’t
– Invest for tax reasons alone
The lure of tax deductions can be strong, but deductions alone shouldn’t drive your decision.

Do – Talk to your advisers
Be cautious about property investing and utilise our expert accountants, financial planners, and mortgage advisers to help you ensure your property investment meets your long term goals.

Australians have always had a love affair with property.
For many of us, there’s nothing like bricks and mortar to invest in.

Free consultation
30-minute consultation with a tax specialist
To make an appointment for your free consultation, give us a call at Beyond Advice on 08 8132 9222.
Tax advice is available either in person or by phone in selected areas.
If you’re thinking of purchasing property, talk to Beyond Business & Accounting Services about your circumstances; we’ll give you a free 30-minute consultation with a tax specialist to get you started.
 

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Community Creating more good together

At Beyond Bank Australia, a partnership with a community organisation can be made up of many elements that when combined, make for a truly rewarding experience for all involved.

Guide Dogs SA/NT Partnership

At Beyond Bank Australia, a partnership with a community organisation can be made up of many elements that when combined, make for a truly rewarding experience for all involved.

The partnership we have with Guide Dogs SA/NT is one such example of this. The relationship began in 2012 when the Beyond Bank Foundation approved a grant to be used to train a Guide dog.

Affectionately known as ‘Eastwood’, this dog recently ‘graduated’ from training and is now working in the community making a positive difference for Malcolm who is living with a disability.

Following the original grant, the partnership between Beyond Bank Australia and Guide Dogs continues to grow and has recently allowed our staff, members and applicants to volunteer at Guide Dogs via our Community Volunteers Program and attend key events in the Guide Dogs calendar, raising awareness of Guide Dogs and enhancing the quality of life for people living with a disability.

Brent Frewen, Guide Dogs SA/NT Fundraising Manager, speaks supportively when asked to comment on the partnership to date. “From our perspective, the partnership has been a positive experience and contributed to the success of our organisation in so many different and diverse ways.”

Guide Dogs SA/NT is a recipient organisation within our Community Reward Account Program, and currently has 218 Community Reward Accounts linked to their organisation. This means Guide Dogs SA/NT can expect to receive a substantial reward at the end of the current financial year.

When community organisations supporters open a Community Reward Account and link that account to their nominated local charity, not-for-profit or community group a percentage of the account holders average annual balance will be donated to their chosen organisation.

For more information on the Community Reward Account and how it can help your community organisation raise funds, please visit our website.

Volunteer Today

Want to volunteer but not sure how to get involved?
We have a volunteer program to put you in contact with some of the most rewarding volunteer roles available!

Check out our blog: wearelistening.com.au
If you don’t find a volunteering position that suits you straight away, you can always register to receive our volunteering updates. We send out a monthly email to our volunteers and can keep you updated on the roles that become available in your area.

We also regularly list our volunteering positions on our Facebook page. You can easily check what’s available there, and share opportunities with your friends.
If you have any questions regarding our Volunteer Program, please contact us at volunteering@beyondbank.com.au.
 

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Disclaimer

Beyond Bank Australia is a trading name of Community CPS Australia Ltd ABN 15 087 651 143 AFSL/Australian Credit Licence 237 856.

The information contained in this newsletter has been drawn from sources believed to be reliable. Every care has been taken to ensure the accuracy of the information contained in this newsletter. However we take no responsibility for any errors or omissions. Investment stories are intended for guidance only and do not take into account your financial objectives, situation or needs. We recommend that you seek appropriate advice before making any investment decision. Copyright is reserved throughout this publication and may not be reproduced or printed without the express consent of the publisher.
 

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