Dispatch. Buying a home? Read this first. Defence Bank Super is here Protect your wheels. autumn 14 ISSUE 36

Transcription

1 Dispatch autumn 14 ISSUE 36 Defence Bank Super is here Protect your wheels Buying a home? Read this first

2 Dispatch The briefing From the CEO s desk Welcome to the Autumn edition of Dispatch. I hope all our members enjoyed their break during the stand down period and have settled into the new year. At Defence Bank, the year has been off to a very busy start with the launch of Defence Bank Super. This product was specifically designed with our members needs in mind. We ve had many members tell us that they re looking for simple, low cost super they can easily change to suit their life stage. We ve listened to this feedback and ensured that Defence Bank Super has an option to suit all life stages, including an Account-based Pension. Best of all, Defence Bank members can join Defence Bank Super straight away by simply logging onto Online Banking. You can read more about Defence Bank Super on page 5. I m also pleased to inform Defence Bank members that we ve recently won the Money Magazine Best of the Best 2014 award for Cheapest Car Loan. In addition, to offering one of the cheapest car loans on the market, we now offer members peace of mind with CGU Auto Equity Insurance to help ensure our members aren t left out of pocket should their new car be written off due to theft, fire or an accident. I look forward to introducing even more new products to our members throughout the year. Jon Linehan CEO Defence Bank 2 It s time to get your PIN This change is part of an industry wide initiative to make card use at point of sale more secure. From 1 August 2014 you ll no longer be able to sign for purchases at point of sale in Australia. Instead, you must use your PIN. Getting a PIN is easy, just visit your local branch and you can select your own PIN using our secure PIN change machines. For more information go to defencebank.com.au/pin Online security At Defence Bank, your security is our highest priority, so that when you use Online Banking your money is as safe as possible. You too can take steps to ensure your funds are protected. First, make sure your anti-virus and anti-spyware software is up to date. Always log in to defencebank.com.au from your browser. If you ever have any doubt about authenticity when logging onto Defence Bank Online Banking, you can check the security certificate by clicking the padlock icon located near the address bar in most browsers. View the certificate from the option provided to ensure that the webpage is a Defence Bank page. This ensures you are on the secure Defence Bank Online Banking webpage and not a scam website that may look similar. If you feel your account may have been compromised, contact Defence Bank immediately on Chief of Defence Force opens Defence Bank Brindabella Jon Linehan, Chief Executive Officer Defence Bank, welcomed the Chief of the Defence Force, General David Hurley, AC, DSC, to open the new Brindabella branch. During the opening Jon Linehan said Brindabella branch was designed to integrate technology and service. The branch of tomorrow has to reflect how banking is changing. People are using branches less for cash withdrawals and more to speak to staff about home loans or superannuation. General Hurley added Defence Bank has listened to its members and designed a branch to meet the unique needs of our service personnel. If you want to check out our new branch, visit Ben Da Shin and his team at Unit 3, 23 Brindabella Circuit, Brindabella Business Park, ACT.

3 Dispatch Home Loan focus Save money on your Defence Home Loan It s easy to get caught up in the excitement of buying a new home, but before you start house hunting, talk to a Defence Home Loan Consultant so you can hit the ground running knowing you ve got a Home Loan that will save you money in the long run. Know your borrowing power You wouldn t go to the supermarket without your wallet. So why go to an open for inspection or auction without pre-approval? Defence Bank offers qualified Home Loan pre-approvals and provides a Letter of Offer to all successful applicants. We won t leave you hanging for an answer either, you ll hear straight back from your dedicated Defence Home Loan Consultant and know how much you can borrow. That means when you find your dream home, you can confidently make an offer and secure your future. Stack up the savings We ve been helping Australian Defence Force members achieve the dream of owning their own home for almost 40 years. We have Defence Home Loan Consultants that understand the needs of Defence Force members and how to help you save money on your home loan in the long run. We give members a clear comparison rate so you can easily see that you re getting a market leading deal with Defence Bank. Better yet, we don t charge any ongoing or annual package fees, which could cost you more in the long run. No hidden fees In addition to no ongoing fees, we don t charge any fees for extra repayments, so you can get ahead on your loan sooner. We also offer free loan redraw if you need to access extra funds for an unexpected expense. We can also help your savings work harder with 100% Mortgage Offset with Visa Debit Card access. Free advice So before you call the real estate agent, talk to Defence Bank. Our Defence Home Loan Consultants are trained to help. They offer free appointments to make sure you get the best deal on your Home Loan so you can save more in the long run. Talk to a Defence Home Loan Consultant today call or go to defencebank.com.au DHOAS Saver Home Loan Great features, great rate > 100% mortgage offset > Unlimited free redraw > No monthly fee 5.09 % pa Annual variable rate 5.14 %* pa Comparison rate For more information call or visit your local Defence Bank branch. * Comparison rate is based upon $150,000 secured loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different comparison rate. Terms, conditions, fees and charges apply and are available on request. Approval subject to the satisfaction of Defence Bank s lending criteria. DHOAS eligibility criteria also apply. 100% mortgage offset available on variable rate loans. Unlimited free redraw minimum amount $100, available on variable rate loans. Interest rates current as at 17 February 2014, and are subject to change. Please refer to defencebank.com.au for current rates.

4 Dispatch In the community Defence Bank Foundation Providing help where it counts Defence Bank Foundation is proud to provide financial assistance to The Young Diggers Dog Squad. The Dog Squad provides Assistance Dogs to help serving and ex-serving ADF personnel and their families to better cope with the stresses and difficulties when recovering from a wound, illness or injury (including combat stress). The dogs also help individuals with a disability reduce the apprehension and fear of facing social interactions. Additionally, the dogs provide a network for participants to exchange training tips, share resources, and support one another through tough times. With funding provided by The Defence Bank Foundation, The Dog Squad will be able to train more dogs for people in need and allow them to deliver a professional Mental Health Care Education program (provided by Toowong Private Hospital) to their 9,000 members nationally. For more information or to donate visit defencebankfoundation.com.au How to Donate The Defence Bank Foundation was launched in early 2014 and is already providing support for practical projects where funding will make a real impact and achieve a meaningful result for individuals, their families and the Defence Community. To make a Donation, go to the defencebankfoundation.com.au or visit a branch today. Donations over $2.00 are Tax Deductible.

5 Introducing Defence Bank Super Now that Defence Bank has launched Defence Bank Super, sorting out your super has never been easier. Whether you re still working, nearing retirement or fully retired and receiving a pension, Defence Bank Super is the simple, low cost solution. Why Defence Bank Super? One of the most important aspects to consider when opening a superannuation fund is fees. Defence Bank Super is a low-fee option, meaning the money you invest is working harder to fund your retirement. Once you ve got your fund up and running, you can easily manage it online, 24 hours a day, seven days a week via Defence Bank Online Banking. Each time you log onto Online Banking you will see your super balance along with your other accounts. We also offer the added protection of Life Insurance and the availability of total permanent disability and income protection insurance. Changing with you Depending on whether you need to be conservative with your super, fix your returns for income needs or can afford to invest in higher return, high risk investments, Defence Bank Super has a number of options to suit your life stage. Choose from Cash Plus, Conservative, Balanced, Growth or a range of Term Deposits to get you the return that suits you. But remember: if your circumstances change, you can go online and switch your investment options around at anytime. Pensions If you re thinking about retirement or have already retired, Defence Bank Super has specially designed pension options: Transition to Retirement, as well as Account-based Pensions. Both are tax-free for members over 60 years, simple to understand and a low-cost way to manage the level of your income. Easy to join You can take control of your superannuation and pension by clicking a button. Because you re already a Defence Bank member, you can simply go to Online Banking to join Defence Bank Super right away. Find out more It s easy to open your Defence Bank Super account. Just log onto Online Banking (you ll also need your tax file number) and join today. Of course, if you ve got any questions or want to discuss your options with one of our qualified financial experts, call Super that s not super expensive Introducing Defence Bank Super. Simple, low cost super for all stages of your life. > Manage and change investment options anywhere, anytime through Online Banking > Choose from a range of investment options suitable for all life stages > Maximise your retirement savings with low fees. Ask us how defencebank.com.au/super This information does not take into account your personal objectives, financial situation or needs. You should read the Product Disclosure Statement (PDS) available at defencebank.com.au/super before making a decision to acquire this product. Fees and charges apply, refer to Fees and Costs Fact Sheet available at defencebank.com.au/super for more information.

6 Dispatch Car Loans Loan Shortfall $5,000 Insurance Payout $20,000 Mind the car loan gap It might be your pride and joy, but if something happens to your car before you ve finished paying it off you might be in for a nasty surprise. If your car is a write-off due to fire, accident or theft you could find your insurance payout is less than what you owe on your car loan. This is called a shortfall or gap. Value for members Building on the foundation of being awarded Money Magazine s 2014 gold award for Cheapest New Car Loans, Defence Bank is now pleased to offer members CGU Auto Equity Insurance. This new product will be available to all members who take out a Defence Bank New or Used Car Loan and gives you the peace of mind of knowing that in the event of a write off, you won t be left with a shortfall should the insurance payout be less than the amount owing on your car. Protecting your investment Say, for instance, you ve borrowed $25,000 to buy a car or ute. If it gets written off in an accident and the current market value is $20,000 you could find yourself $5,000 out of pocket once your insurance company has paid up. With Auto Equity Insurance, CGU will cover that $5,000 shortfall. Extra cash when needed In most cases, Auto Equity Insurance offers an outof-pocket cash benefit of either $3,500 or $5,000 depending on the level of cover you choose, to cover things like car hire, medical expenses, onroad costs or government charges. What are my options? CGU s Auto Equity Insurance is a once off, low cost premium which is simply added to your car loan. There are two options: the first is a one-off premium of $395 that has a benefit of up to a $10,000 loan shortfall on the loss of the vehicle and $3,500 for out-of-pocket costs. The second option is a one-off premium of $495 that increases the loan shortfall to $15,000 and $5,000 for out-of-pocket costs. Simply take out Auto Equity Insurance at the commencement of your loan, along with Comprehensive Car Insurance, Defence Bank can also arrange competitive Car Insurance for you. Applying is easy Now is the time to talk to someone at Defence Bank and we ll have you behind the wheel in no time at all, with a low rate Car Loan and the insurance cover you need. For more information call or visit your local branch. Money Magazine s 2014 gold award for Cheapest New Car Loans

7 Call for nominations In accordance with Defence Bank s Constitution, some Directors automatically retire each year and have the option to offer themselves for re-election. Suitably qualified and experienced members who wish to take an active interest in the governance of Defence Bank may nominate to stand for election as a Director. Nominations are welcomed from members with professional experience and qualifications in retail or wholesale financial services. This year two Directors retire: Craig Madden and Fran Raymond. They are eligible for re-election without nomination. Any other member wishing to nominate as a candidate must complete the Nomination Form and submit it by Friday 16 May A candidate must be nominated by five members of Defence Bank. Following the receipt of a valid Nomination Form, the Defence Bank Nominations Committee will require nominees to: 1. Confirm their eligibility to be appointed as a Director in accordance with the Corporations Act and Defence Bank s Constitution and Policies 2. Undergo a Police check (requires your formal consent) 3. Undergo an Insolvency check (Insolvency and Trustee Service Australia) 4. Undergo a Disqualified Officers check (Australian Securities and Investments Commission and Australian Prudential Regulation Authority) 5. Complete an Eligibility Questionnaire 6. Submit a 300 word candidate statement explaining your reasons for nominating and outlining your credentials, and 7. Provide any additional information as reasonably required by the Nominations Committee. Should any of the above not be completed and/or any unsatisfactory findings revealed, the nomination may be deemed void and the candidate disqualified from standing. The Board s Nominations Committee will interview each candidate and assess their fitness and propriety to be a Director of Defence Bank, in accordance with the Board s Fit and Proper Policy. At the interview, each candidate will be required to present documentary evidence of any relevant formal qualifications and professional memberships they declare, either at the meeting or have mentioned in their 300 word statement or other supporting documentation. Nomination Forms Nomination Forms will be available from commencement of business on 24 April 2014 until close of business 16 May To obtain a Nomination Form contact Defence Bank s Executive Assistant to the CEO on or nominationscommittee@defencebank.com.au Lodgement date Nominations are to be lodged and received by the Company Secretary not later than 4.30pm (AEST) on Friday 16 May All nominations must be addressed to: The Company Secretary Defence Bank Limited PO Box MELBOURNE VIC 8001 Facsimile Number: BY ORDER OF THE BOARD J LINEHAN, Secretary New car time? Talk to us first. And last. To find out more, visit your local branch or apply online. Terms, conditions, fees and charges are available upon request. Lending and eligibility criteria apply. For current interest rates, go to defencebank.com.au. 7

8 Dispatch From the Board Paul Mulraney, CSC Chairman We are now well into 2014: how time does fly. While I hope you all had an enjoyable time off over the break, I m pleased to report that Defence Bank had a very busy and productive festive season. At Defence Bank, we continue to provide our members with the highest levels of personal service. To that end, the Chief of the Defence Force, General David Hurley, AC, DSC, opened our newest branch at Brindabella Business Park in December. Along with other Directors and the CEO and staff, I was also there on the day and was especially pleased to see so many Brindabella Business Park employees join us to officially open the new branch. Combining the latest technology with the best in customer service, this new branch is positioned to meet the unique needs of our service personnel. Whether you want to discuss a new loan or your superannuation needs, make sure you visit the branch in Canberra. We are also incredibly proud to launch the Defence Bank Foundation. This independent charity provides funding to help servicemen and women who have been wounded, injured or are ill or disadvantaged as a result of serving their country. To date the Defence Bank Foundation Trustees have approved funding to help the Soldier Recovery Centre and the Young Diggers Dog Squad. In this issue, we learn more about Young Diggers Dog Squad and their companion and assistance dog program. If you d like to help out, you can make a fully tax-deductible donation in any of Defence Bank s branches or at defencebankfoundation.com.au Best Wishes, Paul Mulraney We re here to help If you have any questions about anything covered in Dispatch please contact us and we ll be happy to help , 8am to 8pm AEST weekdays defencebank.com.au Visit your local Defence Bank branch info@defencebank.com.au Defence Bank Limited ABN AFSL/Australian Credit Licence PO Box Melbourne VIC 8001 Image: Chief of Defence Force, General David Hurley with Defence Bank Board members at the Brindabella branch opening. (L-R) David Payne, Group Captain Callum Brown, Paul Mulraney, CSC, General Hurley AC, DSC, Fran Raymond and Jon Linehan. The information provided in Dispatch is of a general nature only. It does not take your specific needs or circumstances into consideration. Before acting on this information, please consider its appropriateness to your circumstances. Defence Bank recommends that you read the Products and Services Conditions of Use brochure, other relevant PDS, Fees and Charges Schedule and Financial Services Guide before acquiring any product. These documents are available from any branch or on Defence Bank s website at defencebank.com.au