In June, we saw the Federal Government confirm that Australia is in recession for the first time in 29 years. While we are seeing improvements in some of our Members’ situations, which has allowed them to return to making regular payments on loans and health insurance, I want to reassure you that if you are experiencing any difficulty due to the pandemic, we are here to help.
Earlier this year, in line with our South East Queensland Strategy, our Board decided to consolidate two branches in our Ipswich area. Our Brassall and Yamanto locations closed on 3 September making way for our new branch at Riverlink Shopping Centre. Thank you to Mayor Theresa Harding for taking the time out of her busy schedule to attend our opening on 8 September. I know it is important to you to continue to see the same smiling faces helping with your financial needs and I am pleased to say that all but one staff member, who chose to retire, has stayed on at either our Booval or the new Riverlink location. Our new Riverlink team are Shane Kunn (Local Manager), Karinne, Amanda, Amber and Anthea.
You may be aware that our subsidiary Health Fund brand commenced operations in the Northern Territory under the banner of ‘Territory Health Fund’ three years ago. It’s been great to see how well our Health Fund has been received in the Territory, with our membership growth enabling the Health Fund to move from a shared office space to its own Kiosk within the Gateway Shopping Centre in Darwin. Queensland Country Health Fund has experienced excellent growth in our policy sales over the past two months, with an increase in demand from younger people being a key driver of this increased demand.
The Government incentives for first home buyers have certainly stimulated an increase in property purchases and construction throughout the state over the past three months. We have seen record levels of home loans being provided as new borrowers take advantage of a number of Government grants and historically low home loan interest rates to purchase their first home. Details of the various grants and associated eligibility criteria are available on our website.
In the previous newsletter, I advised you that in March, Bruno Cullen stepped down as Chair of Queensland Country Bank, with Christine Flynn being appointed as Bruno’s successor. Over the past 43years, Bruno has been an iconic figure and a strong contributor to our organisation. Bruno will remain on the Board as a Director until our Annual General Meeting in November this year. Bruno has been instrumental in bringing Queensland Country Bank to the respected position it enjoys today, rising from the dream of a few people in Mount Isa to become one of Queensland’s leading member-owned banks. I, along with the Board and Staff, are proud to have someone of Bruno’s calibre and passion embedded in our history. His legacy will no doubt continue to inspire us to help all Queenslanders live better lives. Christine joined the Board in 2018 following the merger with Queenslanders Credit Union, where she was Chair of that Board since 2007 and a Director since 2001. As a passionate advocate for the member-owned banking industry she is well-positioned to follow on from Bruno’s legacy.
Our Annual Financial Report for the financial year 2019-2020 is in production and will soon be available to our Members on our website. Members who have elected to receive a copy of the Annual Report online will be notified by email when it is available. Should you wish to receive a printed copy of the Annual Report, you can advise us by completing the form on our website. This year will mark Queensland Country Bank’s 50thAnnual General Meeting, with our official50th birthday occurring in February 2021.We are aiming to host several events during 2021 to celebrate this milestone, with the first event to take place in Mount Isa in February.
On a final note, I wanted to take a moment to acknowledge our dedicated Member facing staff who have remained on the front line during the Coronavirus pandemic, bringing their best every day, delivering on our Service Promise, and ensuring continuity of service for our Members during this difficult time. I would also like to thank our Board of Directors for continuing to guide our organisation throughout the pandemic, offering empathy, strength and security to our Members and staff.
