BDCU Quarterly eNews
How Much Are Rate Rises Costing You?
ISSUE 5 Autumn 2008
AUTUMN 08
Tips, Specials and Community News from BDCU Issue 5
How much are rate rises costing you?
On a $200,000 mortgage, every quarter percent rate rise is costing the rough equivalent
of an extra dollar and ten cents a day. Doesn’t sound like much, does it. But consider this.
Multiply $1.10 by 365. Then multiply that by 25 years. Don’t forget, this is the twelfth
successive increase. BDCU has a range of fixed loan options for 1, 2, 3, and 5 years. Our
2 Year fixed loan special is currently at basement level. But it won’t stay there long.
Advice Centres?
You may have noticed that BDCU is changing terminology from ‘branch’ to ‘Advice
Centre’. But why? We think a ‘branch’ is somewhere you just deposit and withdraw.
An Advice Centre is a place where you can get good advice to help you make good
decisions. As we are owned by you—our members—our sole mission is to help you
get to wherever you want to go. And that is NOT like a bank. Talk to us about general
financial health, aspirations to buy property, travel, or look after your children’s future.
Standard Variable Rates - Anything But Standard
You may have noticed that when the Reserve Bank lifts official cash rates, many banks
have been raising interest rates even higher still. Sure. No problem with that. Whatever.
If it’s time to walk away, compare our standard variable rate.
BDCU is Carbon Neutral
For the sake of our environment and the communities in which we operate, BDCU has
become carbon neutral. This means purchasing Solar Renewable Energy Credits and
reducing our emissions at the same time.
Term Deposits – New Rates
If you have some money in an account somewhere else, just $20,000 for 4 months will
get you 8.10%p.a. in our Term Deposit Special.
More Staff, New Centre
Seems people like a different kind of banking.The good news is spreading and BDCU is
expanding. We have another seven stellar staff members who we have posted through
our Advice Centres. Maybe it’s the more central location. Maybe it’s the longer hours
and the Saturday mornings. Maybe it’s the internet banking pods.You know what. It may
just be the free hot drinks. Whatever it is, members are LOVING their new centre at
211 Auburn Street. Come and visit us soon.
Vault Cracker
To celebrate our new Goulburn Centre, we created a special Personal Loan called
Goulburn Gold. But we like a bit of ‘brand theatre’ as you may know. So we added a
bonus extra. All Goulburn Gold borrowers will get their chance to publicly crack open
a vault and scoop out $1,000 cash. See the exercise on 3rd May at 12pm at 211 Auburn
Street. Radio 2GN will be there doing an outdoor broadcast.
No Interest Loans
To help less fortunate families in the Goulburn-Mulwaree buy essential household
things, such as a fridge or washing machine, BDCU has provided $20,000 to help
fund No Interest Loan Scheme (NILS). NILS finances items up to $800. All interviews
are conducted in Goulburn. The ‘Get Ahead’ Loan Scheme has been launched in the
Highlands for graduates of NILS. This provides for larger loans of up to $3,000 but at a
heavily discounted rate. Both schemes are administered by Maree Crosbie of Highlands
Community Centre. She can be contacted on 4862 1122.
BDCU eNews The HighTable
HOW MUCH ARE RATE
RISES COSTING YOU?
2 Year Fixed Loan SPECIAL
On a $200,000 mortgage, every quarter percent rate rise is costing
the rough equivalent of an extra dollar and ten cents a day. Doesn’t
sound like much, does it. But consider this. Multiply $1.10 by 365.
Then multiply that by 25 years. Don’t forget, this is the twelfth
successive increase. BDCU has a range of fixed loan options for
1, 2, 3, and 5 years. Our 2 Year fixed loan special is currently at
basement level. But it won’t stay there long.
Taking a calculator to the supermarket is okay, but your home loan is probably
still your biggest expense.
So instead of stocking up on sardines and white bread, why not organise your
home loan so you have more in your pocket in the first place.
At BDCU, our special 2 Year Fixed Loan is not new. We’ve just succeeded in
keeping it low despite the rate rises. So far!
Two big advantages:
A lower rate (means more money for you)
No heart stopping uncertainties (your payments won’t increase for that time)
All the usual benefits of a BDCU loan:
• No account keeping fees
• Monthly transaction rebate
• Free redraw (min. $1,000)
• You can pay an extra $5,000 in advance without penalty
• Easy to operate (‘set and forget’ with internet banking, automatic pay deducations and more)
• Superior, local service
INSTITUTION
BDCU
ANZ
BANK OF QUEENSLAND
COMMONWEALTH BANK
IMB
nab
ST GEORGE
INTEREST RATE % p.a.
8.30
8.89
8.99
9.25
8.94
8.96
9.05
COMPARISON RATE % p.a.
8.69
9.41
9.46
9.52
9.30
9.46
9.53
Sooner or later we will have to increase this rate. So don’t hang about.
BDCU’s 2 Year Fixed special rate reverts to standard variable after two years, currently 9.07%p.a. Source www.ratecity.com.au, an independent provider of
financial services information. Correct as at 30th April 2008. Comparison rates are based on $150,000 over 25 years with monthly repayments. Warning:
Different amounts and terms will result in different comparison rates. Costs such as redraw fees and early repayment fees, and cost savings such as fee
waivers, are not included in the comparison rate but may influence the cost of the loan. BDCU 2 Year Fixed Special available for new and secured loans
only. Terms and conditions, fees and charges and lending criteria apply. Available for new loans only.
Berrima District Credit Union Ltd (BDCU) ABN 44 087 649 787 AFSL 240766
BDCU eNews The HighTable
BDCU is Carbon Neutral
BDCU is an organisation comprised of individuals
who carry a shared responsibility for the organisation’s
impact on the environment.
In mid 2007, BDCU made a commitment to become
carbon neutral.
As at 1st February 2008, we achieved this.
Green Force
The name may sound silly, but this team of dedicated
representatives take their green enforcement
responsibilities very seriously.
Made up of staff from each of BDCU’s centres and
administrative areas, the mission of Green Force is to
identify opportunities for BDCU to become smarter with energy use to reduce greenhouse gases and waste.
Green Force is led by consultants, the Todae Group, who have measured BDCU’s carbon footprint, recommended changes
and purchased Solar Renewable Energy Credits (carbon offsets) on our behalf.
Carbon Footprint
BDCU has a “moderate” carbon footprint for an organisation of its size. This is approximately 240 tonnes per year, the
equivalent of 40 cars on the road doing an average of 15,000 km each.
By purchasing carbon offsets whilst BDCU reduces its energy emissions, BDCU is carbon neutral. The more changes we
implement to reduce our emissions, the fewer offsets we will need to purchase.
Here are a number of changes we have already made or are in the process of making:
Lighting
removing unnecessary lights
rewiring lighting networks so that they do not all
need to be on at once
installing pop switches
installing energy efficient globes and tubes
eliminating outdoor lighting during daylight
increasing natural light
Heating & Cooling
introducing a thermostat range policy
timers on devices
sealing leaky vents
repositioning of vents for better solar passive qualities
Computers
phasing out all CRT monitors
removing screen savers and replacing with power saver settings
full computer shutdown policy
Paper & Recycling
recycling for all paper and card, glass, aluminimum and plastic
old ‘hard plastic’ such as computer parts sent to Resource
Recovery Centre for recycling
all ink toners and cartridges are refilled and reused
paper products purchased are recyled
promotional products are biodegradable or functional as an
everyday item.
We will update our carbon footprint status and new initiatives
on a quarterly basis
Berrima District Credit Union Ltd (BDCU) ABN 44 087 649 787 AFSL 240766
BDCU eNews The HighTable
TERM DEPOSIT SPECIAL
LIMITED TIME
• 8.10% p.a.
• minimum $20,000
• 4 months
• Effective 11 April 2008.
This special offer may be discontinued at any time.
.
Call 02 4860 4000 for personal enquiries
Issued by BDCU. Available for new funds to the credit union only. Effective 11 April 2008. This special offer may be
discontinued at any time. Interest is paid on maturity. Terms and conditions, fees and charges apply and are available on
application or request. A Product Disclosure Statement (PDS) exists for Term Deposits. We recommend you consider
the PDS before deciding whether to acquire a Term Deposits.
Berrima District Credit Union Ltd (BDCU) ABN 44 087 649 787 AFSL 240766