Bankstown City Credit Union was one of the first to announce it is cutting its home loan rates by the full .25% following the decision by the RBA.

Clinton Blanks, Chief Executive Officer of Bankstown City Credit Union commented "Being part of the local community here in the Bankstown and Canterbury areas we are very much aware that a cut of .25% means a lot to home owners. Because we are a mutual society and do not have to pay dividends to shareholders it means that we can afford to be more generous to our customers than many other lending institutions, particularly the banks.  It is all part of being community focused and responding to the needs of our many clients in the area".  Bankstown City Credit Union, is focussed on member interests, and is a conservative and careful manager of its members' money.  

Credit unions have the highest levels of capital in the Australian system, providing exceptional stability. Bankstown City Credit Union holds over twice the required levels of capital and holds well in excess of minimum liquidity levels, besides meeting all other APRA requirements. 

The .25% cut in home loan rates brings the Credit Union's variable rate on their Basic Home Loan to a highly competitive 6.44% pa, (Comparison rate 6.50% pa).

The Bankstown City Credit Union's move to pass on the full .25% to borrowers illustrates why there has been a swing to the mutual societies around Australia at the expense of some of the larger banking institutions.

In line with the Reserve Bank, the interest rates on several of our loans have been reduced. All members will be informed in writing. For all members with existing loans, the reduced rates will apply from 1st December, 2011.

If you're thinking of a new home, car or just want to update your lifestyle, now's the time to move.

Premium Home Loan 					
7.23% to 6.98%  (0.25% reduction)

Basic Home Loan			
6.93% to 6.69% (0.24% reduction)

Personal Loans				
14.70% (No Change)

Car Loans LVR > 70%        
11.99% to 11.74% (0.25% reduction)

Car Loans LVR < 70%         
8.75% to 8.5% (0.25% reduction)

Want to know more...visit www.bccu.com.au,  call 02 9707 6000 or drop into our branch and speak to our loans manager today.

With the recent increase and popularity of Smartphone usage amongst our customer base we are pleased to announce the launch our new mobile friendly website.

When you try and access the Credit Union's website (www.bccu.com.au) from a mobile device such as the Apple iPhone you will now be presented with an easy to navigate mobile menu.

Some of the features/services that are currently available directly from the phone are:

	- Mobile Internet banking
	- Calling to the branch
	- Emailing the branch
	- Accessing the full functional website
	- Google Maps location of the branch
	- Google Maps, easy street by street directions to our Branch from wherever the customer is located, with the built in GPS receiver

The mobile friendly website will also assist customers in locating and getting directions to their nearest rediATM or downloading the rediATM Finder app via the Apple iTunes Store.

The Bankstown City Credit Union Annual Report is now available to view or download, please refer to the attached file.

All members are invited to the 46th Annual General Meeting of Bankstown City Credit Union to be held on Friday 4th of November 2011.

Venue details are:

The Garrison Room at Bankstown Sports Club 
Address: 8 Greenfield Parade Bankstown NSW 2200

Time: 6.00pm

If you would like to attend the AGM meeting please find attached the Agenda for the night; a Cocktail function will follow - details are included in the Attachment.

Prompt action by Bankstown City Credit Union has limited the fraud risk posed by the discovery of data compromises at several local merchants.The credit union identified the problem earlier today, and has acted quickly and decisively to limit the risk to members. Unfortunately this has meant that it has had to cancel the debit cards of members who have used the compromised merchants.

The credit union sincerely regrets any inconvenience the card cancellation may have caused to members. Terry Pittorino, Senior Manager, Risk and Compliance, said "Fortunately, the Credit Union's fraud monitoring system was able to detect the fraud early on.  Because the compromised merchants are popular local stores, the credit union was faced with a situation where it had to act quickly in order to protect the savings of members.  In some cases, the credit union was not able to contact members before cancelling their cards. We sincerely regret this, and the credit union will contact affected members as soon as possible. If members have any concerns, please contact the credit union on Monday on 9707 6000."

Mr Pittorino emphasised that, as always, the Credit Union stood behind its members, and would make good any losses they incurred.

Bankstown City Credit Union will be closed on Monday, 1st August 2011 for the NSW Bank Holiday. 

While our branch will be closed, other member services will still be available, including our call centre, Phone Banking, Mobile Banking and Internet Banking. 

Please call us on (02) 9707 6000 9am to 5pm or use Internet Banking for any of your banking needs during the NSW Bank Holiday.

The Reserve Bank's recent decision to increase official rates forces financial institutions to review and increase loan and deposit rates. 

Bankstown City Credit Union will be lifting interest rates effective across the Board, moving loan rates by less than the banks, but also taking the opportunity to significantly lift rates on savings accounts and term deposits.

Clinton Blanks, Chief Executive Officer, says

"While no-one is happy at the prospect of raising loan interest rates, we've held our rate rises back, so that our mortgage rates are even more competitive compared to the 4 major bank's standard variable rates - Westpac 7.86%p.a, CBA 7.81%p.a, ANZ 7.80%p.a, NAB 7.67%p.a.  So confident are we in the competitiveness of our loan products, we've removed all early repayment/exit fees on all variable mortgage loans" explains Clinton. 

"Because we want to reward those members who keep their savings with us, we've lifted rates on savings accounts and on term deposits, so that Bankstown City Credit Union has some very compelling  products in the market, and for which response has been great."

Clinton Blanks
Chief Executive Officer
Bankstown City Credit Union		
Ph: 02 9707 6000
Email: cblanks@bccu.com.au

All members are invited to the 45th Annual General Meeting of Bankstown City Credit Union to be held on Friday 5th of November

Venue details are:

The Garrison Room at Bankstown Sports Club 
Address: 8 Greenfield Parade Bankstown NSW 2200

Time: 6.00pm

If you would like to attend the AGM meeting please find attached the Agenda for the night; a Cocktail function will follow - details are included in the Attachment.

Bankstown City Credit Union will be closed for the October long weekend on the following dates

Saturday October 2nd
Monday October 4th

We will reopen for business on Tuesday October 5th.

We apologise for any inconvenience caused.

Bankstown City Credit Union has unveiled its new look banking chamber.

Manager Marty Bear, who supervised the renovations, said "We set out to make the experience a pleasant one for members.  We've set up specialist lending, deposit, insurance and enquiries staff, who are happy to spend the time necessary to understand and meet member needs.  Feedback has been great -  members really appreciate the atmosphere and the warm approach of our helpful staff."

In conjunction with the new look premises, the credit union has released its new, market-beating, home loan product - ValueMAX.  Marty continues "ValueMAX is the No. 1 rated product in the market due to its low 6.44%pa interest rate 100% mortgage offset and incredible flexibility - but is only available for a limited time.  Again, feedback has been great." 

For further information on ValueMAX, contact Marty or one of the credit union's mobile lenders on 02 9707 6000, who are happy to visit you at your convenience.

Bankstown City Credit Union again exhibited at the recent Retirement and Lifestyle Expo held at Rosehill Racecourse.

The credit union took its range of great products, including the new eMiser account and the market leading 6.20% 7 month term deposit, to a wider audience, and met with a great response.

Clinton Blanks, Credit Union CEO, said "the response this year was fantastic - many Expo visitors were interested in our exciting eMiser account, which earns high interest on every dollar, every day, without any tricky conditions or misleading introductory rates".

In conjunction with our financial planning partner, Bridges, Bankstown City Credit Union is pleased to announce the winner of the recent Bridges survey competition is Nelson Carmona.

Nelson, a credit union member since 1988, was one of many credit union members who responded to a recent Bridges survey. Nelson was understandably delighted with his prize, a $250 Coles Myer voucher, which he intends to put to good use.

Bridges is a leading and highly respected wealth management business providing advice on wealth creation, pre and post retirement planning, risk insurance and much more. With over 65 offices and more than 180 planners, Bridges is one of Australia's largest financial planning and stockbroking groups and has been providing financial planning services to credit union and building society members since 1985

No matter how or where you go online, you need to take care and protect yourself.

Bankstown City Credit Union will never send you an email asking you to change or confirm your password, or ask you to click on a link or attachment.

For more information please visit the government website "SCAM watch".

If you believe your account security has been breached or have any concerns, immediately contact the Credit Union on (02)9707 6000; press option 2 then option 3 to report an Internet Banking concern.

Bankstown City Credit Union will be closed for the ANZAC long weekend on Saturday April 24 and Monday April 26; we will reopen for business on Tuesday April 27.

Teller/Cashier Service 
9am to 4pm Monday to Friday
9am to 12noon Saturday

Loan Enquiries 
9am to 5pm Monday to Friday

Deposit & Investment Enquiries
9am to 5pm Monday to Friday

Member Services
9am to 5pm Monday to Friday
9am to 12noon Saturday

Including:
- General Account Enquiries
- Insurance Renewals and New Policies
- Credit Cards
- Foreign Currency
- Financial Planning

Saturday 27 March 2010 - Branch Closed 

Reason for Closure: Technical Upgrade

Monday 29 March 2010 - Branch to Close From 4pm

Reason for Closure: Staff Training

Friday 2 April 2010 - Branch Closed 
Saturday 3 April 2010	 - Branch Closed
Sunday - April 4th 2010 - Branch Closed
Monday - April 5th 2010 - Branch Closed

Reason for Closure: Easter Holiday


We Apologise For Any Inconvenience Caused

Despite the decision of the Reserve Bank and most other lenders to raise rates by 25 basis points, Bankstown City Credit Union is delighted to announce it will not be passing on the latest increase in mortgage rates.

"As a member-based organization which puts members before profits, the Credit Union has decided not to pass on the latest rate rise" says Clinton Blanks, CEO.  "We've listened to members, who said they're feeling the pressure of rising interest rates.  Through careful management, we're able to absorb this rate increase - while we may not always be able to do this, it's great to be able to share some good news with our members who generally are attempting the difficult task of balancing the demands of work, family and finances."

Bankstown City Credit Union has been serving the south west of Sydney for more than 44 years.


For more information:

Paul Steer
Marketing Manager
Ph:02 9707 6000
Email: psteer@bccu.com.au

"Online shopping is easy and saves lots of time," said Clinton Blanks CEO Bankstown City Credit Union "however, it's important to be aware of the risks so you can shop online safely and securely."

There are some easy tips you can follow to ensure your shopping experience is memorable for all the right reasons:

1. Always use web browser protection, install and run security software with real-time live updates and update your operating system to ensure you are protected from vulnerabilities;

2. Do not click on links in emails from online retailers or online greeting cards as they can be spam;

3. Never give a date of birth or other personal identifiers. Never give out too many details as the more details provided the greater the risk of identity fraud happening. Online retailers only ever require basic contact details (e.g. name, billing address and contact number) and card details in order to process a credit/debit card payment; and

4. Check your debit and credit card statements regularly and ensure you refer immediately any unauthorised activity to your financial institution.

Bankstown City Credit Union is delighted to announce increases of up to 1.0% per annum in the credit union's deposit rates, effective from Monday December 14th 2009

Our lead term deposit is the MoneyMAX T12 (12 month) Fixed Term Deposit which provides a great rate of up to 6.00%pa for 12 months.

With current uncertainty over the economic recovery, exchange rates and stock prices, these rates offer members a great opportunity to lock in a guaranteed income stream at a leading rate, all with the benefit of a Commonwealth Government Guarantee.

For more information:

Paul Steer
Marketing Manager
Ph:02 9707 6000
Email: psteer@bccu.com.au

The Reserve Bank's recent decision to increase official rates forces financial institutions to review and increase loan rates, keeping in line with the market and competition. 

Effective December 14th 2009 for existing mortgage holders and immediately for all new applications, Bankstown City Credit Union will be increasing its variable home loan rates by 0.35% per annum and personal and car loans by 0.36% per annum. 

Marty Bear					
Head of Lending				
Bankstown City Credit Union				
Ph: 02 9707 6000				 
Email: mbear@bccu.com.au

The Reserve Bank of Australia this week decided to raise the cash rate .25% to 3.75 per cent.

As a result of this Bankstown City Credit Union will be meeting over the next few days to determine our position before making a final decision on lifting the interest rates.

A media release will be available by the end of the week

For more information:

Paul Steer
Marketing Manager
Ph:02 9707 6000
Email: psteer@bccu.com.au

Bankstown City Credit Union is delighted to announce increases of up to 0.5% per annum in the credit union's deposit rates, effective from Monday November 16th 2009

Our lead term deposit is the MoneyMAX T24 Fixed Term Deposit which provides a great rate of up to 6.25%pa for 24 months.

With current uncertainty over the economic recovery, exchange rates and stock prices, these rates offer members a great opportunity to lock in a guaranteed income stream at a leading rate, all with the benefit of a Commonwealth Government Guarantee.

Interest rate details are available on the www.bccu.com.au website.

For more information:

Paul Steer
Marketing Manager
Ph:02 9707 6000
Email: psteer@bccu.com.au

The Reserve Bank's recent decision to increase official rates by 25 basis points, forces financial institutions to review and increase mortgage rates, keeping in line with the market and competition. 

Effective November 11th 2009 for existing mortgage holders and immediately for all new applications, Bankstown City Credit Union will be increasing its variable home loan rates by 0.25%, in line with the Reserve Bank's decision. 

Interest rate details are available on the www.bccu.com.au website.

For more information:
					
Marty Bear					
Head of Lending				
Bankstown City Credit Union				
Ph: 02 9707 6000				 
Email: mbear@bccu.com.au

Now there's more than 3,100 places to access rediATM fee-free.

National Australia Bank (NAB) has joined the rediATM network and doubled our ATM fleet to more than 3,100 locations Australia-wide.

With NAB ATMs joining the rediATM network, you now belong to one of Australia's largest ATM networks.

Over 1,700 additional ATMs, means more convenience and more savings for you.
To avoid paying any direct charge ATM fees, simply head for your nearest rediATM including any NAB ATM.

Please note that while it will take some time for NAB ATMs to carry the rediATM logo, all transactions made with your card from 1st September will attract no direct charge fees.

With rediATM, your money goes even further

Following the Reserve Bank's recent decision to reduce official rates, Bankstown City Credit Union has decided to drop its variable home loan rate by 10 basis points or 0.1%. The drop keeps the Credit Union at the competitive edge of loan offerings in the market place, and well below that of the major four banks. 

The new rates will be effective Friday May 1st 2009 for new mortgages and Friday May 8th 2009 for existing mortgages.

Interest rate details are available on the www.bccu.com.au website.

Bankstown City Credit Union has been serving the community of South Western Sydney since 1965.

For more information:

Paul Steer
Marketing Manager
Ph:02 9707 6000
Email: psteer@bccu.com.au

Reserve Bank of Australia drops cash rate by 0.25%

In response to the current economic pressures the Board of the Reserve Bank has decided to reduce the cash rate by a 0.25% to 3.00%. 

As a result of the official rate drop, Bankstown City Credit Union management is now meeting to discuss the most appropriate action taking into account the interests of all members - both depositors and borrowers.

As a member based organisation Bankstown City Credit Union continually strives to provide the best possible deposit and loan rates and service for its members. 

Bankstown City Credit Union has been proudly serving the South Western districts of Sydney for the past 43 years.

For more information:

Paul Steer
Marketing Manager
Ph:02 9707 6000
Email: psteer@bccu.com.au

As you would already be aware, logon security was improved in November 2008 when a second factor of identity authentication was introduced - members now have to select three "icons" in addition to their membership number and password.

To further secure Internet Banking, the Credit Union will be decreasing the daily External Transfer limit to $2,500. This change will take effect Tuesday, 21 April 2009.

The external transfer limit applies to transfers to external bank accounts. The limit amount has been set at $2500 so to reduce member's risk of loss, whilst trying to limit any inconvenience in meeting day-to-day banking needs. 

Please be aware that there has been no change to the limits on BPAY transactions.

Many members have asked the credit union for even greater reductions in their external transfer limit. If you would like a lower limit, or require a transfer of funds greater than $2,500 please contact our office on (02) 9707 6000, Monday to Friday, 9am to 5pm, to discuss the options available to you.

Over the past few weeks there has been much talk about the Reserve Bank's new "direct charging" policy, to be effective nation-wide from March 3rd, 2009.  Unfortunately some groups have been going public with much misinformation, leading to institutions being inundated with calls from concerned customers. 

The Reserve Bank has tried to force all ATM owners to apply a "direct charge" on every ATM transaction. Details of this "direct charge" will be displayed on the ATM screen when you commence your transaction. The direct charge is determined by the ATM owner, and can vary dramatically according to the ATM owner and ATM location.

Fortunately, Bankstown City Credit Union is part of the credit union industry-run rediATM network.  The rediATM network is already one of Australia's largest, with over 1300 ATMs and an additional 1100 ATMs to join the network over the next few years.  The rediATM network allows any participating member to avoid the direct charge the major banks and others intend to charge on their ATMs.

Bankstown City Credit Union members will not notice any change to current arrangements.  Instead of a direct charge, Bankstown City Credit Union will ensure that its members will pay no more than the fee they currently pay for using the rediATM network

Bankstown City Credit Union Marketing Manager, Paul Steer suggests that if you are not a Bankstown City Credit Union member, and wish to avoid the direct charges being imposed by the large banks, simply visit our local office and set up a MoneyMAX Access account with ATM/debit card access.  Members can save even more in fees by using the EFTPOS "cash out" option. "Our MoneyMAX Access account is the best way to manage everyday cash and save on fees that you would normally be charged by your bank", explains Paul.


For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

BCCU and MoneyMAX support the Victorian Fire victims

Bankstown City Credit Union and MoneyMAX via the Credit Union Relief Fund are supporting the victims for the Victorian Bush Fire Crisis. To donate you can click on the link below or call into our branch 64 Kitchener Parade, Bankstown. 

Australian Credit Unions have set up the Bushfire Appeal in response to the devastation of communities brought on by the Victorian Bushfires. All money collected will be used to provide emergency relief to those communities affected through the Red Cross Victorian Bushfire Appeal.

Your support is greatly appreciated during this emergency. 

Contributions of $2 or more are tax deductible.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Effective February 5th 2009

Rates become a balancing act for 2009

Today Bankstown City Credit Union dropped rates across the range of its savings, investment and loan products. In revising rates, BCCU has met the competitive expectations of the market place, whilst maintaining a balance between the interests of both depositor and borrower members. 

The Credit Union has dropped its standard variable home loan rate to 5.74% which remains very competitive. Deposit rates, and car and personal loan rates have also fallen.

BCCU CEO Clinton Blanks explains "The credit union is doing its best to pass on as much as possible of the Reserve Bank's reductions in interest rates to borrowing members. Mortgage rates are now lower than they have been for over 40 years, which is good news for many household budgets. The credit union team is determined to continue to offer great products at great rates, together with the high level of service, for which we pride ourselves".

For more information the rate changes refer to the rate schedule by clicking here or contacting BCCU on 02 9707 6000.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Reserve Bank of Australia drops cash rate by 1.00%

In response to the current economic pressures the Board of the Reserve Bank has decided to reduce the cash rate by a full 1% to 3.25%. 

As a result of the official rate drop, Bankstown City Credit Union management is now meeting to discuss the most appropriate action taking into account the interests of all members - both depositors and borrowers. It is intended that an announcement will be made next week.

As a member based organisation Bankstown City Credit Union continually strives to provide the best possible deposit and loan rates and service for its members. 

Bankstown City Credit Union has been proudly serving the South Western districts of Sydney for the past 43 years.

For more information:

Paul Steer
Marketing Manager
Ph:02 9707 6000
Email: psteer@bccu.com.au

Unfortunately, a number of credit union members overlook ensuring their accounts hold sufficient funds to cover direct debit arrangements.

This situation exposes the credit union to loss as some members default on their obligations, and also places a significant cost burden on the credit union.

In order for the credit union to continue to offer great loans and savings rates and high levels of service to the broader membership, we can no longer honour members' direct debits when there are insufficient funds available.

From 31 March 2009, the Credit Union will no longer offer this free service - please review your financial arrangements to ensure your accounts hold sufficient funds to cover anticipated payments.

Effective December 4th 2008

Bankstown City Credit Union Drops Home Loan Rate

Following the Reserve Bank's recent decision to reduce official rates, Bankstown City Credit Union has decided to drop its variable home loan rate by 90 basis points or 0.90%. The drop keeps the Credit Union at the competitive edge with great variable mortgage rates at 6.49% well below that of the major four banks. 

The new rates will be effective December 4th for new mortgages and existing mortgages will be effective from 24th December 2008.

BCCU Chief Executive, Clinton Blanks explains "The current climate is very challenging.  However, the Credit Union feels that our product range and rate structure offers a great deal to all members, whether they be borrowers or depositors.  Our home loan rates are well below those of the major banks and other institutions, while we offer market leading call and term deposits, all the time while continuing to offer great personal service and low fees."

Interest rate details are available on the www.bccu.com.au website.

Bankstown City Credit Union has been serving the community of South Western Sydney since 1965.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Effective Wednesday 12th November 2008

Bankstown City Credit Union Drops Home Loan Rate

Following the Reserve Bank's recent decision to reduce official rates, Bankstown City Credit Union has decided to drop its variable home loan rate by 60 basis points or 0.6%. The drop keeps the Credit Union at the competitive edge of loan offerings in the market place, and well below that of the major four banks. 

The new rates will be effective Friday 14th November 2008 for new borrows and Tuesday 25th November 2008 for existing.

BCCU Chief Executive, Clinton Blanks explains "The current climate is very challenging.  However, the Credit Union feels that our product range and rate structure offers a great deal to all members, whether they be borrowers or depositors. Our home loan rates are well below those of the major banks and other institutions, while we offer market leading call and term deposits all the time, while continuing to offer great personal service and low fees."

Mr Blanks mentions "If you have some cash around or are looking to move your deposit, the next two weeks are a great time to invest with the Credit Union.  Rates are likely to continue to fall over the next few months, and now is a great time to lock in an attractive rate."

Interest rate details are available on the www.bccu.com.au website.

Bankstown City Credit Union has been serving the community of South Western Sydney since 1965.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Effective Wednesday 5th November 2008

Reserve Bank of Australia drops cash rate by 0.75%

In response to the current economic pressures the Governor and the Board of the Reserve Bank have decided to reduce the cash rate by 0.75% to 5.25%. This rate has not been seen since December 2003. 

As a result of the official rate drop, Bankstown City Credit Union management is now meeting to discuss the most appropriate action taking into account the interests of all members - both depositors and borrowers. It is intended that an announcement will be made next week.

As a member based organisation Bankstown City Credit Union continually strives to provide the best possible deposit and loan rates and service for its members. 

Bankstown City Credit Union has been proudly serving the South Western districts of Sydney for the past 43 years.

For more information:

Paul Steer
Marketing Manager
Ph:02 9707 6000
Email: psteer@bccu.com.au

Effective Thursday 16th October 2008

BCCU Welcomes Government Deposit Guarantee 

Bankstown City Credit Union has welcomed new laws to implement the Australian Government's 100% guarantee for all deposits in credit unions, building societies and banks.

BCCU Chief Executive, Clinton Blanks said "the Government's guarantee, while very unlikely ever to be called on, will reassure Australians concerned by international financial instability."

"Our members already know that the Credit Union is a safe and member-focused banking institution," said Mr Blanks.  

"This extra step by the Prime Minister builds on the already strong safeguards in place for Australian banking institutions.  It means that every deposit with a credit union, bank or building society now has the full backing of the Australian Government - no matter the amount."

The Prime Minister announced on 12 October that the Government will guarantee all deposits in Australian credit unions, building societies and banks for the next three years.  

"Credit unions/mutual building societies are safe and secure," expresses Mr Blanks. 

"We have no exposure to the toxic loans seen in the USA, and have very high levels of capital.  Because we're member-owned, we don't chase risky business to drive high profits for shareholders. Our focus is on great services for members."

Bankstown City Credit Union has been serving the communities of south west Sydney for the past 44 years and prides itself of safe, secure and responsible lending practices.

Credit unions and mutual building societies are trusted with more of Australia's household deposits than any bank other than the Commonwealth Bank.  With more than 4.5 million members around the country, credit unions and mutual building societies offer a different kind of banking: one that puts members' first.  


For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Effective Tuesday 14th October 2008

RATE REDUCTION PROVIDES COMFORT TO MEMBERS

Following the Reserve Bank of Australia's announcement to lower the cash rate, Bankstown City Credit Union (BCCU) has provided comfort to its members by dropping its mortgage rates.

From October 24 current BCCU mortgage holders benefit from a significant interest rate reduction, the healthiest rate drop for sometime. The new competitive rate for secured mortgages is 7.99% - around 0.6% lower than the banks.

"With all the news in the media about financial markets it is nice to know that we can still provide good news to our members" explains Bankstown City Credit Union CEO, Clinton Blanks.

BCCU is not exposed to the effects of the global credit crisis; funds are only lent to members with  good credit histories and all its assets are in Australia.

Bankstown City Credit Union has been serving the community of South Western Sydney since 1966.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Effective Tuesday 14th October 2008

BANKSTOWN CITY CREDIT UNION FIRMS MARKET POSITION

With the current situation and uncertainty in the banking market place, Bankstown City Credit Union (BCCU) has continued to provide secure and confident banking to its members by ensuring that the Credit Union is a unique position and is safe from the global concerns of the credit crisis. For the past 43 years Bankstown City Credit Union has continued proven to be a secure place for its members to bank, borrow and save. 

Bankstown City Credit Union CEO, Clinton Blanks assured members that BCCU has no exposure to the US  sub-prime market and does not entertain offshore investments or securitization as a method of raising funds.

"As community based organization it is of no interest to us to seek out high risk investments to provide returns to our members, we have been strong in the Bankstown and South Western Sydney regions for over 43 years and have always kept our business local." explains Mr Blanks. 

Since the Rudd Governments recent announcement to guarantee funds up to $100 000, the Credit Union is an even more secure place to bank, borrow and save. 

"Fortunately for us, the Rudd Government guarantee is not a necessity for BCCU, but it will provide an extra level of comfort to our members for the future", says Mr Blanks.

Bankstown City Credit Union has been serving the community of South Western Sydney since 1966.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

Effective Monday 8 September 2008

Bankstown City Credit Union helps members breath easy.

Inline with the Reserve Bank of Australia dropping the interest rate by 0.25%, the first decrease in rates for over seven years, Bankstown City Credit Union has joined the move with the big banks and decreased home loan interest rates in line with the RBA decrease. 

"Whilst our home loan rates continue to be significantly less than those of the big banks, we are always looking out for our members and ensuring that we provide the best possible service at all times. One of those areas of service is ensuring that our members can comfortably manage their loans" explains CEO Clinton Blanks.  "If they can afford to do so, members should think about maintaining their payments - you will save thousand in interest, and months on your loan term,. Bankstown City Credit Union, along with its new market brand MoneyMAX, can provide many flexible lending and saving options." 

Along with the decrease in rates on loans, Bankstown City Credit Union is offering a range of great term deposit rates with its MoneyMAX T series products. Clinton suggests, "Now is the time to lock in cash in term deposits and secure a great rate as the market will see a shift in rates over the coming year. Our T6, T12 and T24 programs are designed with all investors in mind".

MoneyMAX has mobile relationship managers that can assist with a host of banking and financial needs, and are available to visit at a location suitable to you anytime.

For more information:

Paul Steer
Marketing Manager
Bankstown City Credit Union
Ph: 02 9707 6000
Email: psteer@bccu.com.au

BCCU and MoneyMAX proudly exhibited at the recent Lifestyle and Retirement Expo, held on Friday 25 to Sunday 27 at Rosehill Racecourse. With over 15000 people in attendance the response to the new MoneyMAX special Term Deposits was very well received and three lucky winners were chosen from the expo competition to win, a weekend for two in the Hunter Valley, Financial planning session with Lyle from Bridges Financial and the final prize was to be guests of the Wests Tigers at the upcoming game against the Bulldogs at ANZ Stadium. Congratulations to those winners and thank you or attending the stand at the show.

The annual Australian Financial Review Smart Investor Awards were held last evening in the Grand Ballroom of the Westin hotel in Sydney. This grand occasion saw many organisations from the banking and finance industry attend this gala evening, and Bankstown City Credit Union was represented by CEO, Clinton Blanks and Marketing Manager, Paul Steer. BCCU was nominated for three awards; Variable Rate Loan, Line of Credit and Cash Management Account. The competition was tough being nominated up against some big industry names, but it was good to see that BCCU can still come up with Gold, winning the best Line of Credit product for 2008.

BCCU CEO Clinton Blanks explains, "It was a great evening and to be recognized for three of our products and to take gold for the LOC, this tops off a great year for us, indeed". The award will be displayed in the branch from July 30.

Bankstown City Credit Unions', MoneyMAX have signed a sponsorship partnership with NSW Rugby League team, Wests Tigers for the remainder of the 2008 season. This new arrangement takes the BCCU and MoneyMAX brands into an arena it has not been before, with the opportunity of providing the Wests Tigers and its strong broad member base a solid range of banking and financial products. MoneyMAX will be active in working with players and members alike to provide specific product such as lending, term deposits and financial planning.

BCCU Marketing Manager, Paul Steer says "this deal is the start of a great relationship that assists us in cost effectively targeting the areas around the Bankstown LGA, from Balmain and Drummoyne in the north down to Campbelltown in the south. It also provides us with great mix of professional sportsmen, corporate organisations and a very strong broad public base to promote our range of banking and financial products."

MoneyMAX will be the core brand being promoted via this partnership. Look out for more news on the Wests Tigers in coming newsletters

The internet is an integral part of our lives and there is literally nothing we can't find, buy, research or view online. We rely on the internet for our day to day living whether we switch a computer on or not. After three months of research and six months of development Bankstown City Credit Union's IT Team headed by Enis Huseyin have produced one of the most impressive and simplified user friendly banking websites around. 

Now you will be able to surf the new site with ease and explore and learn more about the credit union and its products and services. Many new features have been added and these include; more improved calculators, product brochures and disclosure information, online applications and all the contact information you need to ensure your banking requests can be answered. 

Over the next month, a new revised and improved online banking system will be introduced. We will be communicating how to use the new system in the coming weeks to all BCCU members.

Over the past 43 years Bankstown City Credit Union has been providing high quality banking products and services to the local Bankstown area. In today's competitive environment, Bankstown City Credit Union is now offering these competitive services and products to the greater area of Sydney, from the Central coast in the north to Wollongong in the south and from the coast, west to the Blue Mountains. This is a very exciting initiative from the Credit Union, and the members will be able to benefit from the strong growth that is anticipated over the next few years.

To develop this new strategy and manage the expansion a new masthead brand, "MoneyMAX" has been created to assist with market penetration. In addition to the new brand, three highly experienced and credentialed Business Development Managers have been engaged to take the business on the road. Operating across the Greater Sydney basin, they will focus on key regions at a time to develop the areas and tap into the market potential of these areas.

Under the guidance of Bankstown City Credit Union Executive Manager of Sales -  Greg Fuller, the BDM's will be targeting markets with both lending products and term deposits, whilst communicating all the great features of Bankstown City Credit Union. A proactive marketing campaign will commence in July and you will see the new MoneyMAX brand in the market place in the coming months.