Est . 0 197 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.
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