1. Wagga Mutual Junior Sports Scholarship Program

    Wagga Mutual in partnership with Xceler8 Fitness Centre, are proud to announce the winners of the 2011/2012 Wagga Mutual Credit Union Junior Sports Scholarship.

    The program is designed to help local junior athletes aged 12 to 17 years take the next step in their chosen field of sport. Following the success of the inaugural program in 2010/2011, this year more than 100 scholarship applications were received.

    First prize, a sponsorship package valued at $2,700 including an account at Wagga Mutual Credit Union with $1000, was awarded to Kaitlin Jeffries. The 17-year-old taekwondo specialist is a rising star who was recently selected to compete at the Taekwondo World Titles in Czechoslovakia.

    The following scholarship winners also received sponsorship funds from Wagga Mutual to be used for their future sporting development:-

    James Hay – athletics national champion, Jake Brooker – junior cyclist, Caleb Noble –local Ganmain triathlete and Andrew Emery – talented junior AFL footballer.

    The program was an outstanding initiative that supports the development of local junior sporting talent. We are very proud to be associated with Xceler8 and to put our support behind the scholarship program. We are committed to helping the Wagga Wagga community grow and this program is one way we can do this, by offering some of our community’s most talented junior sportspeople a helping hand to pursue their sporting careers.

    Congratulations to everyone and we wish you all every success in your future sporting endeavours.

    Andrew – Wagga Mutual Regional Manager

    Posted on January 30, 2012 Community Riverina Region - NSW Leave a Comment

  2. Land Rent Scheme eases Canberra’s housing affordability

    home loan affordabilityIn partnership with the ACT Government, we developed and implemented the Australian Capital Territory’s Land Rent Scheme two years ago now. The aim of the scheme is to offer the local community home loans  for houses built on land rented from the ACT Government.

    The Scheme is becoming increasingly popular, particularly with first homebuyers and young families. Because buyers only need to borrow the money for the house and not the land, it reduces the deposit required substantially. Without the Scheme the dream of owning a home would remain elusive for many.

    As a mutually owned organisation housing affordability is an issue very close to our hearts, and we are pleased that, together with the ACT Government, we can help more people to break out of the rent-cycle and get into their own home sooner.

    So far we have approved land rent loans to the value of $40 million, with loans advanced approaching $10million.

    Wayne – Chief Financial Officer

    Posted on January 27, 2012 Financial News & Updates Home Loans Money Expert 2 Comments

  3. CUFA Fijian Leadership Challenge 2012

    Angelique Joy My employer Community CPS Australia has sponsored me to attend the CUFA (Credit Union Foundation of Australia) Fijian Leadership Challenge 2012.

    To participate in the Leadership Challenge I need to fundraise $3,300.

    The Leadership Challenge entails participating in over 100 volunteering hours with local Fijian communities, teaching sound economic practices to ensure these villages are self sustainable. Concepts such saving & budgeting are not widely understood in some communities, and my involvement will assist these locals with a positive economic future and ‘make them smile’.

    As part of my fundraising I will be raffling off a BBQ, you can purchase a ticket at our Salisbury Branch.

    All profits will be donated to CUFA & the Fijian Leadership Challenge.

    Want to help online?

    Please share, retweet or post this story to your facebook and spread the word. You can also donate securely online, donations of $2.00 or more are tax deductible.

    Donate here!

    Thankyou in advance for your generosity and assistance.

    Angelique Joy

    Posted on January 25, 2012 Community South Australia Leave a Comment

  4. Day Care Assistant (Newcastle NSW)

    Volunteers Needed

    elderly carerOverview:

    Are you someone who has heaps of energy, loves people and lives to be in a social environment? Tick all the boxes and be a day care assistant for aged care residents!

    Part of your day includes organising and taking part in social outings, art & craft sessions, body & mind aerobics and general entertainment gathering! Read more…

    Posted on January 24, 2012 Health and Wellbeing Opportunities Volunteer Volunteer in the Hunter Region - NSW 2 Comments

  5. Listener & Communicator for Court House (Muswellbrook NSW)

    Volunteers Needed

    Listener & Communicator for Court HouseOverview:

    We are looking for someone who has great listening and communication skills to be used in a legal setting.

    You will assist people with intellectual disabilities and become a communication point between them and their lawyers and any other people involved in their case. Your communication and people skills will assist people with intellectual disabilities understand what is happening and what is required of them.

    You will play a key role in the legal process and are of your dealings will require a degree of confidentiality. Read more…

    Posted on January 23, 2012 Health and Wellbeing Opportunities Volunteer Volunteer in the Hunter Region - NSW Leave a Comment

  6. Volunteers for CLIPSAL 500! (Adelaide SA)

    Position Filled

    Clipsal

    Overview:

    The Juvenile Diabetes Research Foundation are looking for enthusiastic volunteers for a variety of roles including donation collection, merchandise sales, golf cart taxi drivers or you could even get to be the MASCOT at this years CLIPSAL 500! Read more…

    Posted on January 23, 2012 Health and Wellbeing Opportunities Volunteer Volunteer in South Australia 2 Comments

  7. Managing the Christmas credit card hangover

    Credit Card

    It’s that moment in the New Year that so many Australians dread – the credit card statement that clearly spells out how much you’ve spent at Christmas.

    Many consumers get caught up in the Christmas spirit and arrive in the New Year with credit card balances they simply can’t pay off.

    If you’ve woken up to the holiday debt hangover, you should focus on avoiding high interest charges, which are often much higher on credit cards, by clearing the debt as quickly as possible. If you can, clear the balance completely when due, but if you don’t have savings or the cash flow to do this, then investigate alternatives such as refinancing the debt at a lower interest rate.

    Some might have the capacity to redraw on their home loan, where the interest rate is much lower than a credit card, or consider taking out a personal loan. For this strategy to succeed it is vital for consumers to increase loan repayments so the credit card portion of the owed amount is cleared as quickly as possible. Make a mini budget that allows you to repay the holiday debt over a few months, otherwise you wind up stretching a $2000 debt over a 20-year home loan, which will cost more in interest and extend the life of the debt.

    While you’re clearing the balance, be careful about how you use your credit card and only spend what you can afford to repay at the end of the month.

    If you’re facing back-to-school expenses, then take advantage of any interest-free period on your credit card, provided you can pay the outstanding amount at the end of that period. If you don’t think you can do this, consider cheaper sources of credit, such as the home loan, but like the Christmas debt, you need to increase your repayments.

    While clearing the 2011 debt, consumers should also focus on preparing for the 2012 festive season. If you have landed in January with a nasty credit card debt, the important thing is to avoid the same thing happening next year.

    So if you know that you usually spend, say, $1500 at Christmas, then set up a Christmas savings account where you make a $30 weekly deposit and are discouraged from withdrawing funds early.

    By preparing a plan and sticking to it and spreading the cost over the year you can avoid the pain of a large lump sum cost at Christmas.

    Wayne – Chief Financial Officer

    Things you should know>

    Posted on January 20, 2012 Financial News & Updates Money Expert Saving Leave a Comment

  8. Find the best home loan product – with key fact sheets

    Home Loan FactsAs of 1 January 2012, the Australian Government requires all lenders (banks, credit unions and building societies) selling standard home loans to provide consumers with a Home Loan Key Facts Sheet (HLKFS) about their standard variable and fixed rate home loans, if they ask for one.

    The HLKFS have to be presented in the same format and layout regardless of the lender, and are designed to enable consumers to easily compare home loans provided by different lenders.

    The HLKFS are prepared based on consumers’ individual requirements for their loan amount, loan term and interest type (fixed or variable) and summarises information about the loan, including:

    • The interest rate (nominal and comparison rate i.e. including fees)
    • Total amount to be repaid (including loan amount and fees)
    • Amount repaid for every $1 borrowed
    • Establishment and ongoing fees
    • Repayments per month and per year

    They also include information about how your monthly repayments will change if interest rates increased by one per cent and how much sooner you could repay the loan if you increased your repayments by $200 per month.

    I’m pleased to see initiatives like this implemented that help people find the best product for their personal circumstances. Every lender uses a different language to describe its products and features it can be quite difficult for people to compare them directly to one another.

    Buying a home is a big decision for most Australians, and they will spend a good time of their adult life paying it off – so it is very important to pick the right product. We feel the HLKFS are a great tool, empowering consumers in their choice of product without the bells and whistles distracting from the actual basic features of the loan.

    If you’re thinking about taking out a home loan, make sure you ask for a HLKFS from several lenders to enable you to shop around for the best deal. Financial institutions are also required to make the HLKFS available on their website if they provide information about home loans or enable home loan applications online. You’ll find ours here:-

    http://www.communitycps.com.au/calculators/homeloankeyfactsheet.aspx

     Wayne – Chief Financial Officer

    Posted on January 18, 2012 Financial News & Updates Home Loans Money Expert 2 Comments

  9. Registered to volunteer, but what’s next?

    What next?Our aim is to make to make the volunteering experience enjoyable even before you start volunteering!

    Once you submit your interest in a volunteering role, you will be contacted by the volunteering organisation who will inform you of the next steps to be taken. Some positions require an interview process before selection to ensure this position will not only benefit the organisation but you too!

    If a police check is required the organisation will assist you in sourcing the correct application. Usually Police checks are required for regular volunteering roles with children or the disabled, one off volunteering roles do not normally require a police check.

    During or after your volunteering experience we will contact you for feedback on your volunteering experience so we can share on our blog and social media how rewarding volunteering really is.

    Remember anyone can volunteer, and if you cannot find a role that suits please contact us and we will help find one specific to you.

    View current Volunteer Vacancies.

    ^MM

     

    Posted on January 12, 2012 Volunteer Leave a Comment

  10. Give your accounts a health check!

    Account health checkThe start of the year is an ideal time to give your bank accounts a quick health check. 

    You may have made a certain New Year resolution such as getting out of debt or buying a house, or you simply may want to ensure you are receiving the maximum benefits out of your current situation.  Either way, regular reviews of your bank accounts can provide you with valuable extra savings.

    If the New Year has also coincided with a change to your personal and lifestyle circumstances, reviewing your bank accounts is even more important. You may have started a new job, bought or are buying a house, started or plan on starting a family or be retiring from work.  

    These, and similar changes, may alter your day to day banking behaviour and needs.  For example, they  may alter the way you transact on your account, the amount and frequency of deposits and direct credits which you receive, or if withdrawals and direct debits coming from your account.  This could change the amount of fees you are charged and the interest you may earn.

    Reviewing your accounts will ensure that you:

    • have the right account for your banking needs;
    • are not paying any unnecessary bank fees; and
    • have the best savings options to maximise the interest which you can earn.

    To get started, review your bank statements for the past few months.  This can be easily done by reviewing your transaction history or e-statements within Internet Banking.  Check to see what fees you have been charged at the end of each month.  If you have been charged excess fees and/or don’t understand the fees you have been charged, contact us so we can explain how you can minimise your fees each month and check to ensure the account(s) you have best suits your current needs.

    Interested in maximising the interest you earn?  Many people hold large, excess balances in everyday access accounts.  The nature of these accounts means they pay very little, if any, interest.  There are many at call deposit products offering a higher rate of interest and better return for your money.

    Speak to us today to see if you can get more out of your everyday banking and maximise the interest you can earn.

    Luke -  Product & Segment Analyst

    Things you should know>

    Posted on January 10, 2012 Financial News & Updates Money Expert Saving Leave a Comment

  11. New Year’s investment resolutions

    Over the holiday season many of our members will be thinking about their finances and making New Year’s resolutions to improve them.

    We have highlighted the top 10 investment tips to help meet your longer term goals.

    Top 10 investment tips

     

    1. Clarify your investment goals – having a clear understanding of your goals will help you select the most appropriate investments to achieve them.
    2. Pay yourself first – Set aside some of your pay packet for your longer term goals.  List all your expenses then work out how much you can afford to save each month.  With the surplus put this money aside first so that you don’t spend it on other miscellaneous items.  That way you will be able to meet your longer term goals.
    3. Set up an automatic payment – to help you organise your contributions to your investment(s) so you save automatically!
    4. Invest your savings to grow – make the most of your savings by investing them.  The type of assets you invest in will depend on your financial needs and objectives.
    5. Harness the power of compound interest – each dollar you invest earns a return.  If you reinvest that return, it can earn more dollars, allowing your investment the potential to grow much faster.
    6. Diversify your wealth – spread your risk across each of the main investment types (for example shares, property, fixed interest and cash) with an aim to achieve more consistent returns.  In other words, ‘don’t put all your eggs into one basket’.
    7. Choose tax advantaged investments (not tax driven investments) – consider sound investments that can also offer you tax benefits.
    8. Time in, not timing the market – it’s not timing the market that’s key, but rather the amount of time you’re in the market.
    9. Get some advice – speak to an expert who can help assess your needs and goals.
    10. Do something now – the sooner you get your investment started the sooner you’ll achieve your goals.

    Happy Investing!

    Michael – Practice Development Manager

    Investment Performance:  Past performance is not a reliable guide to future returns as returns may differ from and be more or less volatile than past returns. The ten tips were sourced from Colonial First State www.colonialfirststate.com.au  Eastwoods Wealth Management Pty Ltd,  ABN  17 008 167 002, AFSL  237853. Things you should know>

    Posted on January 6, 2012 Financial News & Updates Investing Money Expert Saving Leave a Comment