Newsletter July 2021

As a member-owned bank, it’s important that we keep you up-to-date with the latest information, ranging from what’s critical for you to know, to what we’ve been up to in the community. Below is your latest newsletter for the most recent quarter. Grab a cuppa, and enjoy the read!




The buoyant property market has underpinned your Bank’s strong performance over the past twelve months. This has translated into record lending volumes for Queensland Country, meaning we have helped more people into home ownership than previous years. This has come about during the midst of a global pandemic and has certainly been driven by record low interest rates for borrowers which are expected to continue for the foreseeable future. Despite property values increasing across Queensland, purchasing a home has become quite affordable thanks to low interest rates in conjunction with numerous Government incentives for first home buyers and home builders. 

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Read on for the full quarter in review

We have welcomed the further Government incentive announced as part of the May budget which extends to single parents with the Family Home Guarantee. Family Home Guarantee allows people in this circumstance to buy a home with as little as a two per cent deposit. Single parents who qualify can access home ownership earlier without having to save a large deposit or pay for mortgage insurance, which will be a substantial saving.  Only limited details have been provided by the Government at this point. Further information will be shared with Members via our website as it becomes available.

The announcement of Queensland Country Bank Stadium hosting State of Origin Game One presented an enormous opportunity for our business to leverage our naming rights sponsorship of the Stadium, casting the ‘Queensland Country Bank’ brand into millions of viewers homes. This was also an amazing opportunity for North Queensland and saw millions of dollars flow into the economy and gave thousands of regional Queenslanders the opportunity to see a State of Origin game live.

I’m pleased to acknowledge the appointment of Glenn “Minty” Mintern as the Brand Ambassador for Queensland Country Bank. Glenn has been a long time Member and local North Queensland identity and is the perfect fit to help promote our organisation. I am sure you will see Glenn feature in many of our marketing promotions in the future.

An area of expansion for the organisation is the provision of banking products and services to small and medium businesses. We have been developing our products and capability to meet the banking needs of businesspeople and have seen this segment of our business growing rapidly due to our commitment to providing face to face services, particularly in regional areas. We provide very competitive business banking services and a high level of expertise and look forward to assisting more Queensland Country Members find better business banking services in the new financial year.

Over the past six months Queensland Country has been involved in completing a transfer of banking business with a small credit union based in Maleny on the Sunshine Coast. This transfer is now complete and has resulted in Queensland Country welcoming almost 4,000 new Members to the organisation who were previously members of Maleny Credit Union. We have recently completed the refurbishment of the local branch and now add a branch in Maleny to the branch services we offer across Queensland. We will continue to look for opportunities to offer banking services in South East Queensland areas as we continue to expand our operations in line with our Membership growth.

Finally, I would like to acknowledge the support you, our Members have provided to the organisation over the past year. We have seen the organisation grow strongly over this financial year and appreciate the faith and confidence our Members have in us to provide their banking services. Feedback via our website is always welcome regarding areas we are doing well or where we could improve. We know that there are many banking options available to people and appreciate you choosing us.

Further updates

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First Home Loan Assistance

The First Home Loan Deposit Scheme and New Home Guarantee have been designed to support first home buyers by providing a guarantee that allows people to purchase their first home sooner with a deposit of as little as 5% without having to pay Lenders Mortgage Insurance.

From 1 July 2021, the First Home Loan Deposit Scheme (FHLDS) reset for the financial year (2021-22) with 10,000 new places becoming available under the scheme. Additionally, on 8 May 2021 the Australian Government also announced an extension to the New Home Guarantee (formerly FHLDS (New Homes)), seeing 10,000 extra places become available from 1 July 2021 to 30 June 2022.

What is the difference?

The main difference is that the First Home Loan Deposit Scheme eligible properties include existing homes, whereas the New Home Guarantee is for new dwellings only. The maximum purchase price also differs between the Scheme and the New Home Guarantee for Australian capital cities, large regional centres and regional areas.

10585_QC July Newsletter Eligible Properties Chart - web banner 1200x_FA.jpg

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Family Home Guarantee

The Australian Government has announced a new program called the Family Home Guarantee, which provides eligible single parents with dependants the opportunity to build a new home or purchase an existing home with a deposit of two per cent, subject to the individual’s ability to service a home loan.

From 1 July 2021, 10,000 Family Home Guarantees will be made available over four financial years.

Learn more about the Family Home Guarantee and eligibility criteria.

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On Thursday, 20 May we gifted 2,500 North Queensland Cowboys fans an exclusive FlipJersey to raise high when the Cowboys scored a try against the Knights.

The FlipJerseys feature a front panel to unzip and flip the ‘TRY’ sign each time the Cowboys score.

The mighty Cowboys went over the try line seven times on the night which allowed the fans in the Northern stand to erupt and proudly display the ‘TRY’ on their FlipJersey’s. As a bonus for the lucky fans the Cowboys secured a 36-20 win over the Knights!

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Tips for immediate access to your tax refund

Providing your account details when you lodge your tax return enables you to receive any refunds without delay. Simply quote your BSB and account number on your tax return. If you’re entitled to a refund, the funds will be deposited directly into your account. The funds are cleared and you can access them straight away.

Tip – Give your savings a boost by transferring your refund into a Christmas Club, Online Saver account, or putting it toward the first payment of a SmartBudget agreement to set you up for the year ahead.

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Forgotten your password?

Our Contact Centre team can help you via phone on 1800 075 078 during business hours. Alternatively, you can visit your local branch. A strict identification process will be followed.

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Reminder of BSB

When making payments into a Queensland Country Bank account, remember to use our BSB, your account number, and the correct account name. Our BSB is 704 640.

Alternatively you can set up a PayID via Internet Banking.

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Right of set-off

The Bank may set-off against a Member’s membership share or the credit balance of the Member’s deposit account any debt owed by the Member to the Bank. For further information please refer to clause 26 of our Constitution.


At a glance figures

  May 2021 May 2020
Assets $3.00b $2.70b
Loans $2.03b $1.86b
Deposits $2.33b $2.12b

Changing rates

Keep up to date with our current interest rates.