Member News
April 2015
CEO’s Message
2. Our new smartphone app is still in the development
phase. We are working on building the content and
pages for the app.
3. payWave is now available on all new and renewal
Visa Debit cards issued from April onwards.
Welcome to our second edition of Member
News for 2015.
It has been a busy couple of months since our first edition
in 2015, we have a number of initiatives that we would
like to share with you.
1. Firstly, following the recent RBA announcement, we
reduced the interest rate on our variable rate home loan
by 0.25% effective 1 March 2015.
4. Interest rates on our Visa Credit card will be slashed
to 7.99% pa (from 10.99% pa.) effective 1 May 2015.
For more information, please see page 3.
We will continue to improve our website and launch
new products and services to help you manage your
banking better. If you would like more information
please contact us on 1300 426 728.
Kind Regards
Anthony Wamsteker
CEO, Quay Credit Union
All about Visa payWave
Visa payWave is considered “contactless,” which
means your card does not need to come into contact
with the merchant’s terminal in order to process the
transaction. With Visa payWave, you simply wave
(hold) your card in front of a secure reader instead of
swiping it.
Nothing else about the transaction process changes;
the purchase is authorised, processed and debited
from your banking account the same way “chipped”
transactions are today.
Visa payWave allows you to pay quickly and conveniently
in participating stores for purchases under $100.
Please note: $300 daily limit applies.
Is Visa payWave secure?
Visa payWave cards are just as secure as any other
Visa chip card and carry the same multiple layers of
security protection, including Visa’s Zero Liability*.
*Visa’s Zero Liability policy covers Australian and New Zealand-issued cards
and does not apply to ATM transactions, transactions not processed by Visa
or certain commercial card transactions.
What if I do not want Visa payWave?
That is fine. Please contact us to advise that you do not
want Visa payWave so we can deactivate the facility.
For further information on Visa payWave please
contact us on 1300 426 728
Contact Details
Member Service: 1300 426 728 | Fax: (02) 9237 6750 | Email: [email protected]
Web: quaycu.com.au | Mail: Reply Paid 313, Royal Exchange NSW 1224 (no stamp required)
Tips for Creating Good Savings Habits
Track Your Expenses
Tracking your expenses will provide you valuable
information on where you spend your money. Based
on that information, you will be able to analyse your
costs and make decisions on where you can make
further savings.
Prepare a Budget
Good savings habits are key to creating financial
stability and financial independence.
Here are our tips to developing good savings habits.
Set a Goal
Having a goal will give you a reason to save money.
Start with one goal and work towards achieving that.
Ask yourself:
ff
ff
ff
ff
What do you want?
Do you want to have your own place?
Do you want to be financially independent?
Do you want to get out of debt?
Set a Deadline
Set a date by which you want your goal achieved.
Having a deadline will motivate you to find ways to
save money as you are working towards your goal.
Planning and monitoring your budget will help you
identify wasteful expenditures and adapt quickly
as your financial situation changes. Creating and
sticking to a budget will decrease your stress levels
because, with a budget, there are no surprises. Pay Yourself First
Before you pay your bills, before you buy groceries,
before you do anything else, set aside a portion of your
income to save.
When you pay yourself first, you are establishing saving
as a priority which encourages sound financial habits.
By paying yourself first you are building a nest egg, a
buffer for emergencies and financial opportunities down
the track.
Think Saving
If you have money left at the end of the month, save
it. You don’t need to spend every cent earned. It’s
okay to buy things. But make sure you really need
them — don’t spend just for the sake of spending.
Saving money can be very rewarding especially when
you reach your savings goals and enjoy that holiday,
that new car or home that you were saving for.
We are slashing interest rates
on our Visa Credit card
From 1 May 2015, interest rates on our Visa Credit Card will be
slashed to 7.99% p.a for purchases and cash advances, and
0% for balance transfers for the first 6 months.
Our Visa Credit card provides you worldwide access,
secure online shopping and the ability to pay bills
over the phone.
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VOID
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VOID
With a great low rate and up to 55 days interest free
on purchases, $0 annual fee for the first year*, Visa
payWave and special offers from Visa Entertainment,
our Visa Credit card can take you anywhere.
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MONTH/Y
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VALID
FROM
Our Visa Credit
card can take
you anywhere..
To apply online, visit www.quaycu.com.au
or call us today on 1300 426 728.
*$36 annual fee year two onwards. Eligibility criteria, terms and
conditions, fees and charges apply.
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Quay CU
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Visa car
Beware of Scams
Scams are all over the internet and scammers know all kinds of tricks to
get you to hand over your money.
Our 10 Tips to
Protect Yourself
1. Watch out for scams – scammers target
you anytime and anywhere.
2. Don’t respond – ignore suspicious emails,
letters, phone calls or SMS messages –
just don’t get involved.
3. Don’t agree to an offer straight away – do
your research and seek advice if it involves
money, time and commitment and get the
offer in writing.
In this edition we feature two scams and some practical
things you can do to protect yourself.
Money Transfer
With the rise of internet and mobile banking it is now
easy to transfer money online. Unfortunately this has
also meant an increase in the number and types of
scams that try to trick you into sending your money
to scammers. Usually you will be asked to transfer
money for somebody using your own bank account
or a bank account that you set up for this purpose.
Once you send money to someone it can be hard to
get back – especially if they are overseas. In most
cases, you may find yourself being recruited as a
money mule. Also don’t be fooled by an email saying
you have inherited a large sum of money from a long
lost relative – and that you need to pay some fees to
claim the inheritance.
Job & Employment Scams
These scams involve offers to work from home or set
up and invest in a ‘business opportunity’. Scammers
promise a job, high salary or large investment return
following initial upfront payments. These payments
may be for a ‘business plan’, training course or
software. Some offers may be a cover for money
laundering where you are asked to alternatively receive
payments and pass them onto a foreign company
for a commission. These are all scams and are often
promoted through spam email or online advertisements.
4. Ask yourself who you’re really dealing
with – scammers pose as people or
oganisations that you know and trust.
5. Don’t let scammers push your buttons
- do not let anyone pressure you into
making decisions about money or
investments: always get independent
financial advice.
6. Keep your computer secure – update your
firewall, anti-virus and anti-spyware software.
7. Only pay online using a secure payment
service – look for a URL starting with
‘https’ and a closed padlock symbol.
8. Never send money to someone you don’t
know and trust – it’s almost impossible to
recover money from a scammer.
9. Protect your identity – keep your personal
details private, never send your personal,
credit card or online account details by email.
10.Spread the word – if you have spotted a
scam, tell your family, friends and report it
to SCAMwatch – www.scamwatchgov.au.
Membership Education Series
The minimum monthly balance is the lowest balance
held in each account anytime throughout the month.
When members move money between accounts, we
take the lowest balance of each account not the overall
balance.
Example:
John has 3 savings accounts with us
Account
What is a Membership Fee and How
Does it Work?
Our focus is on providing value to our members
through competitive interest rates, personalised service
and a fee structure that is based on mutual support.
When members use our services soley for
transacting, it comes at a high cost and reduces
our ability to provide benefits that our ‘supporting
members’ deserve.
To ensure a fair system is in place, a monthly
membership fee is levied on those that do not meet
our ‘supporting member’ criteria.
What is a supporting member?
A supporting member is a member that holds at least
one of the following relationships with us:ff Loan account
ff Term deposit
ff Savings balance over $1,000*
Minimum balance
Date of minimum
balance
RediAccess
$45.80
20 March
Special Saver
$362.20
28 March
Bonus Saver
$115.45
11 March
Combined
minimum monthly
balance
$523.45
John will be required to pay the $5 Membership Fee
for March.
Membership Fee
Member Classification
Fee per Month
Supporting Member
Nil
Members – under 21 years
Nil
Members – less than 3 months
Nil
Other members
$5
The Membership Fee will be automatically deducted
from your savings account for the month.
*Based on the combined minimum monthly balance of each savings
account held in a member’s name (joint accounts included).
Further information can be found in our “Fees & Charges”
Brochure available on our website or for a copy please
call us on 1300 426 728.
Nelune at the Races
The day included a luncheon, beverages and all the
excitement of racing.
The Nelune Foundation held a fundraising event at Royal
Randwick in February 2015.
The Nelune Foundation is a not-for-profit charity that
supports children, adults and their families to cope
with the impact of cancer by providing emotional
support, care and post-operative medical aids that
are not covered by government or private funding.
The Nelune Foundation was co-founded 14 years
ago by two friends, Nelune Rajapakse OAM and Anna
Guillan. Nelune is a cancer survivor who knows and
understands the difficulties diagnosed with this illness.
The Apollo Cup Race Day was attended by Nelune staff,
Quay Credit Union staff and directors with all proceeds
supporting the establishment of the Nelune Comprehensive
Cancer Centre (an integrated centre of cancer care) to be
located at the Prince of Wales Campus, Randwick.
For more information on the foundation
please go to their website
www.thenelunefoundation.org
Important Notices
All products are issued by Quay Credit Union Ltd ACN 087 649 723 AFSL 236856 Australian credit licence 236856 unless otherwise noted. All deposits
held with Quay Credit Union are backed by the Australian Federal Government Deposit Guarantee up to $250,000 per depositor. This information has been
prepared without taking into account your objectives, financial situation or needs. You should consider the Conditions of Use in deciding whether to take up
a product or service. All information contained in this newsletter is correct at the time of printing and subject to change without notice. Fees and charges
may apply. Standard credit assessment criteria apply and all loans are subject to approval. Terms and conditions available on request.