October 2013



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October 2013

October 2013
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Message from the CEO

I am pleased to report we have recorded strong financial results, completing what can only be described as a successful year for the Beyond Bank Australia Group.

Our recorded profit of $23.3m for 2012/13 will be reinvested back into our organisation to improve products and services for our members. Our results reaffirm our strong position in the financial sector and are testament to our strategic direction, the strong commitment of our staff and the support of our members.

Our continued growth is driven by our intense commitment to delivering excellent value back to our members and communities. Our assets under management have grown from $3.7bn to $3.8bn, which is a pleasing result for our organisation.

We continue to return value to our members with Canstar Cannex advising that our members were better off by a total of more than $26m by banking with us rather than with one of the major banks.

Over the past year we have contributed more than $1.6m to the community including $263,000 in grants from our Foundation to a range of non-profit groups. These grants deliver important funding and assistance, which in turn positively benefits the communities in which we operate.

We are proud of our achievements over the last twelve months, including:

  • Becoming Beyond Bank Australia, a 100% member owned bank committed to the prosperity of many.
  • Successfully merging with Alliance One Credit Union on 1 July 2013, bringing 16,000 members, 53 staff and $233m in total assets to our existing portfolio, and increasing our branch network to 49.
  • Moving our South Australian administration office and branch to a larger, more energy efficient location at 100 Waymouth Street.
  • Canstar Cannex advised that our members were on average $142 better off banking with us than with one of the major banks – that’s a total of more than $26m in value received by our members.
  • Our Fees & Charges review delivering $1.8m a year in savings to our members.
  • We were named Australia’s Best Credit Union 2012 at the Mozo People’s Choice Awards in October, only four months after receiving Money magazine’s Credit Union of the Year award.
  • Eastwoods Wealth Management received their 7th ‘Licensee Select SA Practice of the Year’ award.
  • Our member satisfaction rating increased from 92% to 95%.
  • We supported 290 community groups, not-for-profits and local charities across Australia, thanks to our Community Reward Account.
  • We were awarded Cannex Canstar 5 Stars for Outstanding Value for our Drive-On Car Loan, placing it in the top 5% of all car loan products surveyed.
  • Announcing a partnership with Boundless Canberra to create the first all-abilities playground in Australia.
  • We look forward to building on our financial and community successes this year and thank you for your continued support.

Robert Keogh

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It’s your 100% Customer Owned Bank

Make Your Vote Count in the 2013 Director’s Election.
Beyond Bank Australia is a 100% customer owned bank, which means that you as a member, are a shareholder and therefore a part owner of our company. 

The role of the Board is to be custodians on behalf of the members, to ensure Beyond Bank Australia’s capabilities and financial position continue to be developed and are available to create value for present and future members.

We urge all members entitled to vote in the Beyond Bank Australia 2013 Directors election to exercise their right to vote and elect their representatives of their customer owned bank. 

With the exception of minors, all members who were members on 25 July 2013 are entitled to vote in the 2013 Directors election.

Computershare has been appointed to conduct the ballot for the 2013 Directors election of Beyond Bank Australia. Members will have the option to either vote electronically or complete and return the ballot paper that we will provide to all members who are entitled to vote. Included with the October member statement mail-out is a postal ballot pack (ballot paper, ballot paper envelope and reply paid envelope addressed to Computershare investor services.
 
If you would like to vote electronically follow the following steps:
 
  1. Go to the Beyond Bank Australia website and follow the link to the voting site. Or you can go directly to the voting site using the URL: www.votingservices.com.au/beyondbank
  2. Enter your member number and postcode and then click on the ‘Login’ button.
  3. Follow the instructions on the voting site.
Members without internet access who would like to vote electronically can vote by visiting their local branch. 

If you have any queries in relation to the ballot process, please contact the Computershare Helpdesk on 1800 674 015.
 
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2013 Director Election

Candidates

Name: Geoffrey Knuckey

Occupation: Company Director and Audit Consultant

Year joined Credit Union: 2012

My career involved 32 years (including 15 years as Partner) at Ernst & Young – one of the international accounting firms. I specialised in financial statements auditing, internal auditing and risk management advice across both the private and public sectors. This experience covered a variety of industries including financial services, community service and member-based organisations. In January 2010, I commenced a new career as a professional independent director and member of audit and risk committees in a range of private sector companies and Commonwealth/state government agencies. I was appointed Chair of Eastwoods Group in 2010. Since July 2012, I have been privileged to serve as a director of Beyond Bank Australia and member of the Board Audit Committee. My commitment is to work for the benefit of members to ensure we deliver the services they expect and deserve.


Name: Margaret Patrick (Carmody)

Occupation: Senior Executive

Year joined Credit Union: 1980

Margaret has been a member of Beyond Bank Australia for over twenty years and lives in Canberra. She is an AICD qualified and experienced company director for a company involved in a broad range of commercial activities. Margaret would bring to the Board role extensive senior executive management experience, including having successfully led a large geographically dispersed service organisation. Her knowledge and experience in policy development and service delivery in competitive markets would be especially relevant as a director. Margaret’s experience in high quality service delivery and corporate governance – including as Chair of several management committees, and as a member of finance, risk and audit committees – would suitably underpin her contribution to the Board of Beyond Bank if elected. She seeks the support of all Beyond Bank members. Margaret has also previously worked as a volunteer raising funds for medical research and in other community projects.


Name:
Heather Webster

Occupation: Company Director

Year joined Credit Union: 2003

In asking for your support in the Beyond Bank Australia Board election, I commit to using my experience and passion to improve services to members. My service with Beyond Bank Australia includes Chair of the Risk Committee and Beyond Bank Australia Foundation. I live in a regional area where I operate a small family business. This helps me understand communities and their financial challenges, as well as the need to listen, discuss, represent and lobby. My experience includes CEO (public transport), community worker and Board member of not-for-profit organisations (wine industry and disability). I am a Fellow of the Australian Institute of Company Directors and serve as a Councillor in SA and have degrees in science, librarianship and a Masters of Business Administration. I am committed to honesty and openness and ask for your support to serve all members to maintain and build a strong, member-centred and ethical organisation.


Name: Steve Nolis

Occupation: General Manager

Year joined Credit Union: 1992

As a current Director and Chairman of the Board Governance and Remuneration Committee, I ask for your support at the upcoming election as we strive to retain consistency and stability to a Board that has established a strong track record of success in conjunction with the outstanding staff and management of our organisation. Professionally, I bring significant banking and finance industry experience, having worked for the Reserve Bank of Australia and CPS Credit Union (SA) Limited (now Beyond Bank Australia). I am currently the General Manager at law firm Duncan Basheer Hannon. My tertiary qualifications include a Master of Business Administration (MBA) attained through the University of SA. I have also completed studies through the Business in China Intensive School, Shanghai, China. Through establishing and maintaining a viable business model of success – the welfare of our members and staff across Australia is my upmost priority.


Name: Christina Ryan

Occupation: General Manager

Year joined Credit Union: 1994

Christina Ryan is a non-profit governance specialist advising numerous member based organisations on business practice, planning, strategy, management, change management, governance, and organisational structure. She has significant expertise in management with senior positions in a range of organisations including national peak bodies and state based service providers. Christina has been on the boards of many national and state based organisations including some of Canberra’s oldest and most respected non-government organisations. She has been Chair, Deputy Chair, and board member and has been the Deputy Chair of the national peak Disability Advocacy Network of Australia (DANA) for three years. Ms Ryan has advised government through various panels and committees. She has represented Australia at the United Nations in both an official and NGO capacity. Her strong ethical contributions and inclusive style are highly regarded. Christina Ryan has the right skills for Beyond Bank Australia as it embarks on its new future.


Name: Geoff Parnell

Occupation: Management Consultant

Year joined Credit Union: 2004

Geoff is the Managing Director of Aqumen Pty Ltd and lives in Western Australia. Geoff has a Bachelor of Business, a graduate of the Australian Institute of Company Directors and a fellow of the Australian Institute of Management. Self-employed since 2006, after successfully selling his business to PMS Australia, Geoff consults to a wide range of clients across the private and public sectors. Geoff has had extensive senior executive experience with major national and international organisations including Hames Sharley, Commonwealth Bank, Arthur Andersen, KPMG and GHD. Current Board activity includes Chairman of Mosaic Community Care, Director of Juniper, President of the Subiaco Business Association and Corporate Advisor to Badge Constructions. Geoff has been responsible for significant key improvement initiatives in the organisations that he has been involved with. He is also an active contributor to the community.

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What is the other way to bank?

The launch of Beyond Bank Australia marks a new chapter in our history, one that will be beneficial to all our members.

As we have said since our launch, we offer another way to bank.

What does that mean? Quite simply, it is the best of both worlds – the flexibility and security of a bank together with our member and community-centred values.

Just as we were as a credit union, we remain 100% member owned. This means we will always put our members and our communities first, and that will never change.

We’re a values based organisation that puts people before profits and believe in prosperity for all. We will go beyond in everything we do.

We will continue to offer a safe and secure banking alternative with innovative personal and business banking solutions for our members.

We have established a community division to implement our community banking and support programs to not-for-profit and community organisations throughout Australia.

Our professional advice and planning services, as Beyond Advice, will continue to help our members get even more out of their finances.

Of course, some things have changed. Most obviously, our branches, uniforms, website, brochures, banking cards and other products all have a great new look.

However, becoming a bank means more than just changing our appearance.

In simple terms, this will allow us to access funds from sources previously not available to us while continuing to be as competitive as ever on our interest rates, product offerings and fees and charges.

We know that our change to Beyond Bank is the best approach for our members and to grow our organisation into the future.

Having successfully launched our new brand, we look forward to sharing the benefits with everyone who banks with us.

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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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