Est
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ABN 71 004 860 057 AFSL/ACL 241373
Edition
16
SUMMER
2013
Hello Investors,
Welcome to GSI’s 2013 Summer edition
of ‘The Investor Newsletter’.
In this edition of ‘The Investor’, we
promote the sporting clubs and
community events who were successful
in securing our financial support in 2012, we note some important
dates to mark down in your diary and we promote the modern
technology behind a Quick Reference (QR) Code.
I also provide a business update, we discuss what’s happening in
and around our industry, and we introduce you to the faces behind
GSI, our skilled and experienced GSI Board of Directors.
Finally, from everyone at GSI, we thank you for your ongoing
support and we look forward to another year of assisting you with
your financial needs.
Glenn A. Sanford
Managing Director
Staff of head office, Bairnsdale
QR Code…what is it?
A ‘Quick Reference’
(commonly called QR)
Code is the next big thing
in marketing.
With as many as half of
the population now owning
smartphones, and that number growing on a
daily basis, QR Codes have the potential to
have a major impact in advertising,
marketing and customer service with a
wealth of product information just one scan
away.
A QR Code is a two-dimensional barcode
that can be read by using smartphones or a
dedicated QR reading device, that link
directly to text, emails, websites, phone
numbers, just about anything!
If you have a smartphone like an iPhone,
Android or Blackberry, then there are a
number of different barcode scanner
applications that can read and decode data
from a QR code. The majority of these are
completely FREE, and all you have to do
once you install one is to use your phone’s
camera to scan the barcode, which will then
automatically and instantly (as long as you
have network coverage) load the data.
The GSI QR Code will take you to our
website where you can access our current
investment interest rates, Prospectus, forms
and all information about GSI instantly. It’s
that simple!
In an effort to provide the most up-to-date
services to our customers and potential
customers, we are adding the QR Code to all
our marketing material and advertisements
so that information about GSI is readily
available to enquirers and interested
persons.
There are many companies now using QR
codes on product packaging, shop displays,
printed and billboard advertisements as well
E-services .... are coming!
At GSI we are constantly looking at ways to grow and develop our products and services.
The benefits of keeping up with technology are many, but most importantly it allows us to
offer you a more efficient and effective service with more accessibility, flexibility and value
when dealing with us day-to-day.
In 2011, we started investigations into on-line products and services. With the homework
now completed, we have commenced implementation of the processes and procedures
required to provide the service to you in a safe, secure and reliable environment. We
anticipate launching an on-line service in addition to our normal products and services by
year end.
What we are about to embark on is very exciting…so stay tuned for further updates!
as in emails and on websites.
An example: A staff member whilst on
holidays scanned the 2013 Victorian
Fisheries Guide QR Code and was able
to access the new fishing limits on
flathead (which now have a minimum of
30cm and not over 55cm, plus you can
only catch 5 per person). It also assisted
in identifying some of the unknown fish
they were catching all instantly on their
iPhone.
So as you can see there are many uses
for a QR Code…and it’s FREE.
Why not give it a try!
FIXED TERM INVESTMENTS
24 months
5.6 %p.a.
12 months
5.4 %p.a.
6 months
5.3 %p.a.
3 months
5.2 %p.a.
AT CALL INVESTMENTS
GSI Super (For SMSFs only) 5.2 %p.a.
GSI Savings
from
(Tiered rate depending on balance) to
Warragul
Bairnsdale
2.0 %p.a.
2.7 %p.a.
Sale
Lakes Entrance
FREECALL: 1800 619 559
www.gsi.com.au
Rates current at 22/10/2012
Maffra
Orbost
Business Update
Despite tougher trader
conditions in the latter
part of the year, GSI
recorded solid growth
over 2012. Total deposits
grew by $7.3M (5.0%) to
$154,389,472, and the
number of accounts grew
by 37 to 5,051.
On the lending front, we funded around $33M in new loans and the
total loan portfolio increased by $6.9M (5.8%) to $125,527,565.
In addition, we were able to provide over $40,000 in financial
support via sponsorships and donations to a host of Gippsland
community organisations, something we’re quite proud of and have
a long history of being involved in (refer to the article below for more
details).
Although achieving growth over the year, our final results were
hindered slightly by the adverse fallout from the demise of Banksia
Finance (based in Kyabram) and the purchase of Southern Finance
(based in Warrnambool) by Bendigo Bank. Although having no
direct connection with either company, we do operate in the same
industry and so it’s no real surprise that the negative sentiment
impacted on us to at least some degree. GSI continues to actively
manage its key financial drivers such as liquidity and capital on an
ongoing basis and we are comfortable with the current settings.
GSI is an independent business, operating a straight forward
business model that has stood the test of time.
During 2012 we were also proud to have been acknowledged and
involved at several local business awards. We were a finalist in the
Gippsland Business Awards, the major sponsor of the East
Gippsland Business Awards and our Warragul branch was crowned
Business of the Year in the Baw Baw Shire’s Business Excellence
Awards. These awards recognised our strive for excellence and
among the best managed businesses within the region, so it’s with
some disappointment that after 43 years of prudent management
through all sorts of financial cycles (eg. the global financial crisis;
the recession we ‘had to have’, share market crashes, property
market downturns, etc.), that the spotlight on these unrelated
businesses hindered our results, however we accept that’s
business!
Industry Review
As a result of recent events within the non-bank industry, the
Australian Securities and Investment Commission (ASIC) has
undertaken a review of the industry and the business models in
which non-bank finance companies operate.
Through GSI’s membership of
Provic Group Inc. (an industry
body
representing
9
debenture/note issuing companies
based in regional centres across
Victoria and southern New South
Wales) we have been able to
provide some input into ASIC’s
review via their commissioner John Price. GSI Director John
Stephenson is in fact the current Provic President and Glenn
Sanford is the Treasurer, allowing GSI to have a say in the future
shape of the industry. GSI welcomes the industry review and
eagerly awaits the final outcomes that will hopefully lead to industry
participants being more resilient and the return of investor
confidence in the non-bank sector in Australia.
The regulatory environment in which GSI operates has changed
several times over its history and we are confident the company
will continue to adapt and operate successfully, maintaining its
reputation for excellent service, for valuing its customers and for
being an enthusiastic supporter and participant within our regional
communities.
Glenn A. Sanford
Managing Director
Proudly supporting local communities
GSI is an enthusiastic
and financial supporter
of a host of sporting,
educational, community
cultural associations,
festivities and events throughout Gippsland.
It’s something we’re very proud of – that by
investing in GSI, our investors ultimately help
their own communities to prosper, whilst still
achieving a good return.
Advance TAFE
Lindenow Football Netball Club
Bairnsdale Bowls Club
Lucknow Football Netball Club
Bairnsdale Cricket Club
Maffra Bowls Club
Bairnsdale Football Netball Club
Make a wish foundation
Bairnsdale Production Line Theatre Co
Metung Bowls Club
Bairnsdale & District Junior Football Assoc.
Morwell Bowls Club
Bairnsdale Running Festival
Nowyung Garden Show Bairnsdale
Bruthen Bowls Club
Orbost Bowling Club
Drouin Bowls Club
Paynesville Bowls Club
We base our involvement on a number of
criteria. Whilst we wish to give something
back to local communities that support us,
we have many competing requests and a
finite amount of funds. When it comes to
what we support and participate in, it’s a
business decision and assessed accordingly.
East Gippsland Bowls Association
Police and Publicans Golf Charity Day Bairnsdale
GSI Gippsland Lakes Golf Classic
St. Thomas Aquinas College- Tynong
Gippsland Umpires Association
Sale Bowls Club
During 2012, GSI supported and sponsored
many sporting clubs, activities and events
throughout the region. The following is a list
of some of the clubs and events we
supported and sponsored in 2012:
Lakes View Country Golf Club
South Pines Golf Club – Lindenow Sth
East Gippsland Marketing Inc.
East Gippsland Sports Foundation
Rotary Club of Bairnsdale
GSI East Gippsland Business Awards
Rotary Club of Lakes Entrance
Lakes Entrance Football Netball Club
Warragul Bowls Club
Landcare Group – Lifestyle Village Warragul
Warragul Country Golf Club
Leongatha Bowls Club
Lindenow Bowls Club
Wy Yung Football Netball Club
West Gippsland Choral
Prudent lending a key ingredient
Although there are always many businesses operating in any one industry, it’s important to note that just because they may
sell a similar product and/or services, they are not all the same, nor do they operate under the same business model.
The same applies to the non-bank industry. For over 40 years we have maintained a prudent, conservative and resilient
business model, totally independent to any other non-bank financial institution. Through our over 40 years of knowledge,
expertise and experience in the industry and region, we remain a ‘rock solid’ local finance alternative.
GSI’s Board of Directors
GSI is managed by a Board of Directors who meet regularly
to oversee business and shape the strategic direction of the
company.
All Directors have a long association with the Gippsland
region and all currently reside in the area, apart from Tony
Stewart who now lives in Melbourne. The Directors’ local
knowledge of the people and places of Gippsland has
allowed the Company to keep in tune with the local finance
and property markets and identify new opportunities for GSI
growth. All Directors have a significant shareholder stake in
the Company and a united vision to ensure GSI continues to
be a successful financial institution with a reputation for
assisting regional development whilst valuing individual
customer service.
IAN ROBERT CAMPBELL LL.B., aged 79 years
ANTHONY FRANCIS STEWART LL.B., aged 69 years
Ian Campbell was a founding Director of the
Company when it commenced in 1970 and
has been Chairman of the Board since 1987.
Ian is a former senior Partner in the legal Firm
of Warren Graham & Murphy. Ian has
considerable experience in all areas of the law
including local government conveyancing. Ian
is a past President and Life Member of the
Provic Group Inc. Ian is an active member of
Rotary, a Life Member of Apex and past President of Bairnsdale
and District Hospital.
Tony Stewart was a founding Director of GSI
when it commenced in 1970 and joined the
Board again in 2002. Tony is a former Partner
in the legal Firms of McGrath Colman Stewart
and Warren, Graham & Murphy. Tony has
been involved in the running of solicitors’
investments and mortgage management
companies for more than 25 years and is a
former Chairman of the Chiropractors and
Osteopaths Registration Board of Victoria and former director of
M.C.S. Properties Ltd.
GSI presently has six (6) directors, all of whom have a long
history with the company and a wealth of experience in the
financial, legal and property sectors.
PETER MILTON MURPHY BA, LL.B., aged 56 years
GLENN ANDREW SANFORD CPA, FCIS, B.Bus.,
F.Inst.L.Ex., aged 52 years
Glenn is the Managing Director of GSI and
was first appointed to the Board of Directors
in 2003. Glenn has also been the Company
Secretary since 1999. Glenn is a qualified
accountant and former General Manager of
the legal firm Warren, Graham & Murphy.
Glenn has a wide range of commercial and
finance experience and has enjoyed a long
history of involvement in local sporting, service
and community organisations in East Gippsland.
Peter Murphy was first appointed a Director of
GSI in 1986 and is a practising Solicitor in
Warren, Graham & Murphy Pty. Ltd. and holds
specialist accreditation in Family Law and
Criminal Law. Peter is a past-President of the
Ski Club of East Gippsland (1991- 1993), pastSecretary of the Bairnsdale BTA and pastPresident of the Gippsland Law Association.
Peter is currently President of Pelicans Inc., a network of East
Gippsland business leaders formed to raise funds for Bairnsdale
Regional Health Services (BRHS).
GEOFFREY DAVID ELLIS LL.B., aged 53 years
JOHN TREVOR STEPHENSON OAM, aged 71 years
John Stephenson was first appointed a
Director of GSI in 1975 and was the
Company’s first Manager. John is current
President of The Provic Group Inc. and a
former Mayor of the Town of Bairnsdale (197576), a past President of the Victorian Eastern
Development Association (VEDA) (1985-87),
a past- President of the Victorian TAFE
Association and past-President of the East
Gippsland Institute of TAFE.
Geoff Ellis was first appointed a Director of
GSI in 1986 and is currently CEO of Eastern
Zone,
Abalone
Industry
Association,
Chairman of the The Lakes Entrance
Fishermen's Co-operative Society Limited and
a member of the Racing Appeals and
Disciplinary Board. Geoff is a former Partner
of the legal Firm of Warren, Graham & Murphy,
past President and Life Member of the Lakes
Entrance Community Health Centre. Geoff has enjoyed a long
history of involvement in local sporting, service and community
organisations in East Gippsland.
The GSI traveller is in ....
GSI congratulates .......
On 21st November,
2012 Rosanna
DiGrazia GSI
Investment Officer in
Warragul, celebrated
her 40th Birthday.
Rosanna tried to keep
it quiet without telling anyone at the
office. So for this, we give an extra big
birthday ‘shout out’.
Happy Birthday!
From all at GSI, congratulations Rosanna on
your notable milestone – we wish you
all the best for the future.
GSI welcomes ... Vicki Semmens
We are pleased to welcome Vicki
Semmens as our new GSI
Investment Officer in Sale. We are
sure you will find Vicki friendly,
attentive and happy to assist you
with your GSI matters.
The Gold Coast, Queensland
shopping
sophisticated
and dining, pumped up
nightlife – and apparently,
the list goes on.
Warragul’s GSI Investment
officer Rosanna DiGrazia,
husband Mario and family
recently spent two weeks
on a road trip driving
from Warragul to the Gold
Coast.
The city is 94 km south of the state
capital Brisbane. It is the second
most populous city in the state, the
sixth most populous city in the
country, and the most populous
non-capital city in Australia.
The Gold Coast boasts that even
before your toes touch the sand of
the sun-kissed beaches, you’re
already pulled into the energetic
vibe that the Gold Coast is famous
for.
Although the weather did not
provide the typical sunshine the
region is famous for, (packing the
GSI umbrella was a good idea),
Movie World was still a feast of
various movie-themed rides and
attractions ranging from motion
simulators to roller coasters and
slow river rides.
It’s a playground of all things fun
in the sun – beach swimming,
a surfing paradise, thrilling theme
parks, mesmerising national parks,
Our GSI agency in Sale is located at
238 Raymond Street within the real
estate offices of LJ Hooker.
Public holidays 2013
Monday 11th March
Friday 29th March
Monday 1st April
Thursday 25th April
Monday 10th June
Tuesday 5th November
Wednesday 25th December
Thursday 26th December
*Please note the following are
Gazetted public holidays for 2013:
*Dates supplied by respective government departments and correct
at the time of printing however may be subject to change.
DATES TO
REMEMBER
While enjoying all there is
to see between the two
destinations, one of the family’s
favourite locations was their visit to
Warner Bros. Movie World.
Labour Day
Good Friday
Easter Monday
Anzac Day
Queen’s Birthday
Melbourne Cup Day
Christmas Day
Boxing Day
Rosanna with daughter Claudia and
sons Sebastian and Fabian taking
shelter from the rain.
TIPS: Do Not Call Register
Once your numbers are listed on the
register, telemarketers and fax marketers
must not contact you however, some groups
can still contact you after you register.
To reduce telemarketing calls you can
register your home phone, mobile phone
and your fax number on the Australian ‘Do
Not Call Register’ and registration is FREE.
GIPPSLAND SECURED
INVESTMENTS
These
include
charities,
research
companies, political parties and educational
institutions.
IMPORTANT NOTE: Registrations are valid
for six (6) years so you need to re-register
to avoid being contacted again after this
time.
The Do Not Call Register is managed by the
Australian Communications and Media
Authority on behalf of the Australian
Government.
Registration is easy, you can do it over the
phone on 1300 792 958, or on-line at
www.donotcall.gov.au.
www.gsi.com.au
Head Office – Bairnsdale
119 Main Street, Bairnsdale 3875
Phone: (03) 5150 1405
Facsimile: (03) 5152 5444
Email: [email protected]
Warragul
64 Smith Street, Warragul 3820
Phone: (03) 5622 3346
Sale
238 Raymond Street, Sale 3850
Phone: (03) 5144 7200
Maffra
120 Johnson Street, Maffra 3860
Phone: (03) 5147 2200
Orbost
14 Ruskin Street, Orbost 3888
Phone: (03) 5154 2010
Lakes Entrance
383 Esplanade, Lakes Entrance 3909
Phone: (03) 5155 1286
GSI offers investments in non-bank, unsecured notes. All investments involve risk and investors could risk losing some or all of their investment. Investments may only be made on an application form
accompanying our current Prospectus which should be considered before investing and is available at any GSI location or on the website. NOTE: GSI does not provide financial product advice and only
gives factual information about its own Note products and services. Before acting on any such information you should consider the appropriateness of the information to your situation. Financial advice
that takes into account your personal situation, needs or objectives may be obtained from a licensed financial adviser. We recommend that you obtain financial, legal and taxation advice before making
any financial investment decision.