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WARNING: All members should be aware that the credit union will never ask for your passwords, PIN numbers or personal banking details in an email, an on-line message or in an unsolicited phone call.

Australian Government Deposit Guarantee. more ...

Credit unions and mutual building societies
Growing from strength to strength

Strict regulation and guarantees protect your deposits.
>	Credit unions and building societies meet the same strict, legally enforceable standards as banks, under the Banking Act and strict oversight by the Australian Prudential Regulation Authority (APRA).
>	The Australian Government has also recently guaranteed all deposits with credit unions, building societies and banks. This means that all Australian deposits have the full backing of the Government.
>	After 28 November, a fee will be payable by banks, building societies and credit unions for guarantees on deposits of more than $1 million.
>	APRA’s strict rules on safety and capital continue to apply to all banks, building societies and credit unions to the same high standards.

Healthy, strong balance sheets.
>	All credit unions and building societies (and banks) are Authorised Deposit-taking Institutions (ADIs), regulated under the Banking Act.
>	Credit unions and mutual building societies have combined assets of over $65 billion. More than 4.5 million Australians are members, demonstrating the scale and strength of credit unions and mutual ADIs.
>	Credit unions and building societies are well capitalised with robust capital adequacy ratios of 16.5% and 14.5% respectively (compared to around 10.6% for banks) – and have high levels of liquidity.
>	Credit unions and building societies are prudent and responsible lenders. We have no exposure to the toxic sub-prime loans in the US. Credit unions and mutual building societies have the lowest levels of arrears in the Australian lending market.
>	As mutuals, we are not under pressure to take risks to maximise record returns for shareholders. We put your interests first.

Conservatively managed and operated.
>	Credit unions and mutual building societies do not engage in sub prime loans and do not invest in complex securities based on sub prime loans.
>	Mortgages at credit unions and building societies continued to grow at a double-digit pace in the year to June 2008, despite the financial turmoil that has forced other lenders to scale back or cease lending.
>	Credit unions and mutual building societies fund more than 80% of their lending from retail deposits, not the volatile wholesale market.
>	Credit unions and mutual building societies meet the same high standards as the biggest banks, under Australia’s regulatory system.

A trusted haven for Australian savings.
>	Household deposits at credit unions and building societies exceed $50 billion and are growing at close to 10% annually. The household deposit base of Australia's mutual ADIs is second only to the CBA.
>	As financial market turbulence continues, consumers are looking for a safe haven for their savings. As strongly regulated mutuals, credit unions and mutual building societies are safe and competitive.
>	Credit unions and mutual building societies offer very competitive savings, term deposit and online savings products.

Abacus - Australian Mutuals is the industry body for Australian credit unions and mutual building societies.
For more information, visit our website at www.abacus.org.au.

Are you one of the 80 per cent of Australians who haven’t yet sought financial advice?¹

There are a number of reasons why people don’t seek financial advice. It could be because people think it’s too costly, they don’t trust financial advisers, many believe they can do it themselves or they may think advice is just about investing.

Do any of these reasons sound like you?

Financial advice can help you in a number of ways and, when you seek advice from a reputable planning group, you receive all the benefits financial advice can make to your life. Remember that good financial advice will save and potentially make you money, not cost you money.

That’s why we recommend Bridges financial planners to our members. Bridges has been providing financial advice to Australians throughout the country for over 23 years. A Bridges financial planner can help you set goals and put in place strategies to make sure you achieve those goals.

Here are just a few of the types of comments we hear from our members who have seen a Bridges financial planner:

“I’d thought seeing a financial planner was just going to cost me and they wouldn’t tell me anything I didn’t already know. How wrong I was. I am so happy I made the decision to meet with a planner, financial advice is so much more than just placing investments and the returns far outweigh the costs.”

“I’ve now got someone I can trust and rely on. My Bridges financial planner is like my doctor or lawyer, they are there when I need them. They review my situation whenever my circumstances change and regularly keep me informed of changes in the markets and to changes in superannuation etc. They then advise me on what I should do to take advantage of such changes.”

“I was worried I wouldn’t have enough money to retire comfortably, but after talking with my Bridges financial planner, they developed strategies to help me achieve a better retirement – something I could not have done on my own.”

Find out what a difference financial advice could make to your situation

Call us on 02 9891 3111 or visit your local office to arrange a complimentary, obligation-free initial meeting with a Bridges financial planner, who can show you how financial planning can make a difference to your situation.

1. Financial Planning Association of Australia 2007 National Conference, Nov 2007, opening address.

Bridges Financial Services Pty Limited (Bridges). ASX Participant. AFSL No 240837. This is general advice only and does not take into account your objectives, financial situation and needs. Before acting on this advice, you should consult a financial planner. In referring members to Bridges, The TAFE and Community Credit Union Ltd does not accept responsibility for any acts, omissions or advice of Bridges and its authorised representatives.

Internet Security - discounted offer

Previous newsletters have included member news pages on How healthy is your computer?, “Money Mules” & Money Laundering and we regularly remind you about card, access code and PIN security.
Enclosed with your December newsletter is a member news on Safety Online and now through your credit union you can purchase Trend Micro PC-cillin Internet Security Pro 2008 at a discounted price:-

                             12 month subscription - $104.95 (RRP $129.95)
                             24 month subscription - $174.95 (RRP $259.95)

Note: all subscriptions permit installation of the software on three individual home computers.
Designed for home computer users, the Trend Micro PC-cillin Internet Security Pro 2008 offers anti-virus protection, keystroke encryption and protection against Trojans, spyware and rootkits. The software also gives users a personal firewall and a range of home network monitoring and parental content controls. Click here to access offer

Bridges Money Talk
Lunchtime workshop available
at Bridges Parramatta office

Click here for more information

© 2004 The TAFE & Community Credit Union Ltd.
ABN 25 087 650 815 AFSL No. 238100

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Any advice contained on this site is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. Therefore you should consider the appropriateness of both the advice (if any) and the product before acting on our recommendation. The TAFE & Community Credit Union Ltd suggests you read and consider the Terms and Conditions and the Financial Services Guide in deciding wether to acquire the product. All products issued by The TAFE & Community Credit Union Ltd AFSL No. 238100.