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Newsletter October 2020

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!

 

From the CEOs desk

 

As we continue to see the effects the pandemic is having on our lives and the economy, I can confidently say our organisation is well placed to continue providing Members with banking services and support. We are fortunate in Queensland that actions taken by the State Government to date have minimised the transmission of COVID-19.

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.

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Read on for the full quarter in review

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.

Further updates

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NOW OPEN! New Ipswich Branch

On Monday, 7 September we welcomed our new Ipswich branch to the
Queensland Country family. The branch is conveniently located in the
Riverlink Shopping Centre with modern technology and Saturday morning
trade available to our Members.

An opening celebration was held on Tuesday, 8 September with Mayor
Teresa Harding being joined by Branch Manager, Shane Kuun, Queensland
Country Bank Director, John Weier and Riverlink Centre Manager, Alexa
Arnott for the official ribbon cutting. Shane and the team at Riverlink look forward to welcoming our Members
to the branch.

To read more about our new branch visit here

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Good for Good Community Grants – what are they?

Queensland Country Good for Good Community Grants is one of the many ways that we give back to our communities and help provide meaningful projects and initiatives that benefit our Members.


In the spirit of paying it forward, our Queensland Country Good for Good Community Grant recipients partner with us to fundraise 10% of their approved grant amount on behalf of our official Charity Partner, Ronald McDonald House Charities North Australia.

Who can Apply?

Applications are open to community groups, clubs and not-for-profit organisations that are Members of Queensland Country Bank. To apply visit here

How much funding can my group apply for?

Grant applications can be submitted for funds needed between $5,000 and $30,000 out of a pool of $100,000.

What type of projects get funded?

Applicants with projects focused on sport and recreation, health, education, environment, arts and culture or heritage are encouraged to apply.

Our club isn’t a Queensland Country Member. Can we still apply?

Yes, you can still apply but before your application can be submitted your Community Group will need to be a Member of Queensland Country Bank.

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Changes to statements

From 1 January 2021 Queensland Country Bank Limited will be changing the frequency with which we issue statements on our savings accounts and fixed term deposit accounts from quarterly to six monthly. Savings accounts which have a credit facility attached will continue to receive monthly statements. Account holders who wish to receive statements more frequently than six monthly may elect to do so, however from 1 January 2021 this will incur a periodic statement fee of $2 (per statement issued). Should you wish to continue to receive statements on a quarterly basis or more frequently than the six monthly statement cycle, please contact your local branch or call 1800 075 078.

Supporting the Supporters

29 Jul 2020

As part of one of our core values – to put people first, it’s important that we pay it forward even further and support the people who support our local communities. Find out how we're doing just that with local charity, Cancer Council Queensland.

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