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NEWSAPRIL06VOLUME13..2 Home loans at QSCU Helping you find a home loan that suits you Also inside: Life membership Our new Chairman Save the Bilby Win big! Online Lending Staff recipe Leonie Canavan Q&A My role? Saucy Baked Chicken Business Development Officer (BDO) My branch? Melbourne Member Service Centre Always a favourite with the How long have I been with QSCU? kids, and a perfect dish in I’ve been with QSCU for 11 years. I started when we our house for those cooler opened our first Melbourne office in 1995. autumn nights. Who belongs to my family? My family consists of my husband, my parents, two sisters and Ingredients one brother, their spouses and five nieces and nephews. Then, on the in-law side, it gets big. I have my parents-in-law, 16 4 chicken breasts (cut into 3 or 4 brothers and sisters-in-law, and 15 more nieces and nephews. pieces, depending on size) Needless to say, family gatherings are always large and noisy! 4 rashers of bacon What is the best part of my job? 1 med white onion, sliced into wedges I enjoy being able to tell people how great the Credit 2 celery sticks, diced Union is and being able to assist our Members with their 3 tomatoes, cut into large wedges finances. It's always great to be able to tell a Member that their home loan is approved, especially first homebuyers. 1 green capsicum, chopped into squares Apart from our Members, there are also the great people I 1 pkt chicken noodle soup work with that make going to work a pleasure. 2 tablespoons of cornflour What makes life interesting for me? A splash of white wine What I've learned and the people I've met along the way, have made life interesting. There’s never a dull moment at our house, Method with people popping in to visit or having friends and family over Chop the bacon in about 2.5 cm strips. for dinner. I have a lot of friends who visit from overseas who Cook with onion and oil in a pan. tend to turn my life upside down, but always add lots of fun. When cooked, remove from pan and put aside. Add a little more oil to the pan and brown the chicken. Place the chicken, onion and bacon in a casserole dish with celery, capsicum and tomatoes. In a separate bowl, mix chicken noodle soup with one-and-a-half cups of boiling water. Pour over the chicken mixture and place in a moderate oven. After about half an hour, add mixture of cornflour and white wine to thicken. Cook until vegies are soft and the sauce is thick. Serving suggestion: serve on mashed potatoes with steamed vegetables. Special dietary needs Recipe is gluten-free if you substitute chicken noodle soup for Massel chicken stock. All dairy- free, however you'll need to substitute lactose-free butter and milk in the mashed potatoes. life membership Once you’re a Member of Qantas Staff Credit Union, you’re welcome to be a Member for life even if you end your employment at Qantas or your family circumstances change. And, as long as you’re a Member, your family are entitled to join too! To find out more on who can join, call us on 1300 747 747 or visit www.qantascu.com.au. email scams what to look out for Some people refer to these emails as 'phishing' and you'll first notice these scams when you get an email out of the blue with a story about why you have to reply. The email claims to be from your financial institution or another service you use, and usually asks you to send your account details, and sometimes your PIN, either by return email or through a website. Safety checks to protect yourself: 1. Stay calm. It's natural to be alarmed 4. Delete suspicious emails without 8. For Australian sites, look for the '.au' by an email claiming your account has opening them. Avoid opening domain such as 'com.au' or 'net.au'. To been frozen or your credit card dubious attachments, even if the date, the Australian Securities and Investments information has been stolen. Resist email seems to come from a person Commission (ASIC) has not come across a your first impulse to reply. Never or a company you trust. phony .au site, although that doesn't follow the instructions in the email. guarantee it will never happen. 5. Only go to the official website for 2. Keep your computer secure. Some your financial institution using your 9. Take a few privacy precautions. Some frauds can lure you into opening 'favourites' or by typing its URL in the authorities suggest avoiding personal an email or attachment that secretly address bar of your web browser. transactions at Internet cafes, installs a 'trojan' that allows Never click any hyperlink in an email. community centres and libraries. In scammers to monitor your computer some places, criminals have loaded 6. Regularly change your Internet and access your accounts. Install an software that records keystrokes. banking and shopping PINs. We effective virus protection program on recommend changing your PIN as 10. Act quickly if you think you've been your computer, and keep it up often as every month. conned. If you get a suspicious email, to date. contact us and we will confirm the 7. Always suspect that it’s a scam if 3. Get a 'firewall' to protect your email’s authenticity. Do not respond to you're asked for your account details computer from unauthorised access any contact details in the email. or your passwords by email. Your over the Internet. This is especially Credit Union will never ask you for For more information on financial tips and important for broadband users. your account details or your safety checks, visit www.fido.asic.gov.au passwords by email. in brief: get insured. Avoiding cheque dishonours The Credit Union cannot provide a win big! "sweep" arrangement from your Qsaver to over $7,000 in prizes to be won cover the presentation of member cheques. So, before you write a cheque from your savings 0 account, please ensure that you transfer the necessary funds from your Qsaver account. Protect your PIN: Major prize 1 Memorise your PIN An LG home theatre package, complete with an LG 32" wide-screen LCD monitor, surround 2 Destroy the notification of your PIN sound speaker system and DVD player. (where applicable) 3 Don’t keep a record of your PIN on, with, or near your card Monthly prize draws 4 Don’t tell anyone your PIN, not even Win one of 3 amazing LG 17" wide-screen LCD family or friends multi-function monitors, with built in speakers and stand. 5 Make sure no one watches you enter your PIN at a terminal Take out a CGU policy for Home, Contents, Car or Landlords Insurance, between 1 May and 31 August to be in the monthy draws to win! Report lost or stolen CueCards and VISA For Terms and conditions please visit www.qantascu.com.au or call us on 1300 747 747 cards immediately. Call 1800 621 199 ACT: TP 06/01140, NSW: TPL 06/02632, VIC: 06/1043 SA: permit pending (24 hours toll free) or 1300 747 747 Qantas Staff Credit Union Limited ABN 53 087 650 557 (QSCU) acts as an agent for CGU Insurance Limited (8.00am to 5.00pm) ABN 27 004 478 371 (CGU). An IAG Company. Home and Contents, Car and Landlords Residential Property Insurance are issued by CGU Insurance Limited ABN 27 004 478 371 (CGU). An IAG Company. A Product Disclosure Statement (PDS) is available from any office of CGU or Qantas Staff Credit Union (QSCU) or by calling 1300 747 747. The PDS will help you decide whether to buy or hold the products. Please seek independent advice to decide if these products are appropriate for you. QSCU receives a commission as a percentage of the premium for each policy, at Take out a CGU 5% and 15%, depending on the type of product. The or a range of rates between policy for Home, Contents, Motor Vehiclepromoter is Qantas Staff Credit Member Questionnaire Union Limited ABN 53 087 650 557 (QSCU). Please visit www.qantascu.com.au for full terms and conditions. Landlords Insurance, between 1 May and 31 August to be in the monthy draws to win! Shaping our future Coming soon, you'll be able to give us your feedback on what you'd like from your credit union in the future. Available online, your answers will assist us in high fives providing you and your family with better Now there's two Term Deposit rates you can products and services in the future. put your hand up for: 5.50% p.a.* for 4 months or 5.70% p.a.* for 7 months Online Banking Available now! Giving you 24 hour access to manage your accounts. Hurry, these offers are limited. Ask here for details. Call 1300 747 747 for more information. *Conditions apply. Please ask us for a flyer or visit our website for more information. You should read and consider the Product Disclosure Statement available on our website. save the Bilby Saving the Bilby is one of the most delicious things to do this Easter. All Australian, chocolate Bilbies have been made by Darrell Lea since 1994. In the past two years, Darrell Lea has donated more than Win an Easter Bilby pack! $70,000 from the sale of chocolate Bilbies to the Save the If you’re under 15-years-old, send us your best Bilby Fund. Easter Bilbies are only available from Darrell drawing of a Bilby having an Aussie Easter, and Lea stores in two yummy sizes. You can choose from the the best 10 entries will win a Bilby Easter Pack! large Bilby, where 50c is donated, or the small Bilby, Entries close 17 April 2006. Post entries to: where a 30c donation is made. All donations go directly QSCU Bilby promotion, to the Save the Bilby Fund. Bilbies come in dark, milk, Locked Bag 6747 Hurstville BC NSW 1481 sugar-free milk and white chocolate. Please include the child’s name, age and address. Call 1300 669 405 or visit www.dlea.com.au for your The Bilby Easter pack contains two large chocolate Bilbies and a certificate. nearest Darrell Lea stockist. The judges decision is final, and no correspondence will be entered into. Can’t get Our new Chairman into a branch? At the January Board meeting Max Haworth did not seek re-election as Chairman of the Credit Union. The Board would like to thank Max for his Online lending now available! leadership over the last five years, during a period of strong growth and expansion of our range of products and services. Max You can now apply online for: will continue to demonstrate his dedication to the Credit Union as a Director • Home Loans and on Board committees. • Investment Loans Mark Boesen was unanimously elected as the Credit Union’s new Chairman. Mark • Personal Loans has been a Director of the Credit Union for 14 years and Vice Chairman for the last • Car Loans five years. Mark also brings with him 31 years of service with Qantas, having the opportunity to have served in senior roles for 18 years with Qantas Superannuation, • Credit Cards including as General Manager and Director. • Overdraft • Line of Credit Mark brings a wealth of experience to his role as Chairman, with a commitment to ensuring the highest levels of corporate governance for the protection and security of Members’ funds, while at the same time providing Members with the best and most competitive products and services. Mark is also committed to the continuation of the Credit Union's family approach Simply log on to Online Banking to personal, friendly service. He enjoys the support of his wife of 25 years, Lynne, to apply and follow our easy and their two daughters, Belinda (20) and Samantha (19), all of whom are proud step by step process Members of the Credit Union. Loans subject to approval. Terms and conditions, “We have a strong and promising future, and I’m looking forward to leading the fees and charges apply. Credit Union into an exciting new year.” Mark Boesen Chairman, Qantas Staff Credit Union searching for a home loan? What features are important to you? Buying a property is one of the biggest charges like fees for early repayment or 5. Low and No deposit loans. While decisions you will probably ever make, so redraw fees, or any future fees that a these can be good options for some it's important to assess what you actually bank might decide to hit you with. buyers, remember that you still need to need from your loan, and make sure you’re save for purchase costs such as stamp Look for a low comparison rate, which can not getting pulled in by what seems to be duty and conveyancing. Most lenders mean bigger savings over the life of the loan. attractive features – only to find you’re also require a savings history of at least paying for it in fees. 2. Honeymoon rates are a great way to six months. Also check for fees and ease into your loan. However, although mortgage insurance premiums, which can Things to look out for when taking out they may seem competitive for the first be significantly higher for low and no a home loan: 12 months, you could end up with a deposit home loans. 1. The comparison rate is a tool that you rude shock when it reverts back to the 6. Home loan offset accounts may only be can use to help identify the true cost of standard variable rate. Again, check available with higher standard variable rate the loan. The comparison rate includes the comparison rate, and check the rate loans, not on basic, lower interest loans. both the interest rate and fees, and you'll be paying when the honeymoon Basically, you want the money you deposit charges relating to a loan; which takes is over. to receive interest on it in the form of a into account: 3. Fixed rate mortgages can be a fantastic deduction on your loan – paying less • the amount of the loan way to lock in a lower rate, especially if interest on the loan. Do your calculations, • the term of the loan there is the threat of a rate rise. though. You could be better off with a • the repayment frequency However, watch out for penalties for lower rate with no offset in the long run. • the interest rate early repayments and other restrictions. • fees and charges connected with For more information on 4. Additional repayments. If it's important the loan (up-front and on-going fees) Home Loan features and tips, visit to you to have the flexibility to pay extra www.fido.asic.gov.au Keep in mind that the comparison rate off your loan when you can, then make doesn’t include government charges sure your loan doesn't penalise you for (such as stamp duty), other fees and doing so. Variable Home Loans from QSCU Right now you can take advantage of: ✔ No monthly account keeping fees ✔ No penalty for additional repayments ✔ Honeymoon rate available ✔ Redraw facility with no fees attached ✔ 100% offset facility available where every dollar counts to reduce your loan and save you interest ✔ We process the paperwork for your first home buyers grant ✔ Online lending now available choosing the right loan for you. No matter what your life stage or situation, we have a competitive range of home loans to get you into your new home – faster. home essentials home plus 6.75% 6.794 % p.a. Comparison rate p.a. 7.00 % 7.044% p.a. Comparison rate p.a. If you just want the best rate and don’t need a range of If you’re looking for the loan that’s got it all, you can’t beat flexible options with your home loan, Home Essentials is ideal. our Home Plus home loan. Package includes: How it works. • 0.25% below the standard variable rate. With Home Plus, you can choose a variable honeymoon • An ongoing lower variable interest rate. interest rate 1% below our standard variable rate for your first year. • No monthly or annual account keeping fees. • No penalty fees for early repayment. Package includes: Plus, if you want to apply for additional loan advances • No monthly or annual account-keeping fees. (for a renovation or other purpose) you can do so. • A variable honeymoon interest rate, 1% below our standard variable rate for your first year. • A full range of options like redraw and extra repayments, all operating within your interest honeymoon rate, and with home access no fees. • The opportunity to apply for a mortgage-secured overdraft 7.15 % with a 100% offset facility, so that every dollar you keep in your savings account reduces your interest. p.a. • Weekly, fortnightly or monthly repayments. If you’re good at managing your money, our Home Access home loan can give you the freedom to really make your home loan your number one financial facility. How it works. It gives you one home loan account that you keep all your salary and savings in – and the freedom to pay in and draw down money as you choose. You can save in the account and reduce your interest, or redraw for say, an investment You can now apply online. opportunity. It’s up to you. Package includes: Simply log on to Online Banking • Weekly, fortnightly or monthly repayments. and follow our step-by-step process. • Access to your home loan via all channels (e.g. cheque, ATM, EFTPOS, Online Banking). • The ability to store all your income and savings in your When it's time to talk home loans, home loan, using every cent to save yourself interest. • A low minimum monthly repayment of 1% of the talk to us. outstanding balance. • The freedom to repay and redraw money as you please, Call 1300 747 747 up to your loan limit. • No monthly or annual account-keeping fees. Terms and conditions, fees and charges apply. For more information call us on 1300 747 747. The comparison rates are based on loans for $150,000 and a term of 25 years. A comparison rate schedule is available from www.qantascu.com.au. Please refer to the back page of this newsletter for the warning notice. Deposits Loans At Call Deposits (from 1 Apr 2005) Loans (from 4 Mar 2005) Daily Balance Rate Home Loans Rate $100,000 and over 5.00%pa Home Essentials Basic home loan 6.75%pa $50,000 to $99,999.99 4.75%pa Home Plus 1year variable honeymoon rate 6.00%pa $25,000 to $49,999.99 4.25%pa Standard variable rate 7.00%pa $5,000 to $24,999.99 4.00%pa Home Access All in one account Variable rate 7.15%pa Below $5,000 1.25%pa 100% Offset up to Interest is calculated on the daily balance and credited to the account at the end of each month. For an example of how our tiered interest arrangements work, please see the first part Mortgage Facility 100% offset facility 7.00%pa of the Savings Accounts and Payment Services and Term Deposits Product Disclosure Statement. Loan Offset Accounts (from 1 Apr 2005) Personal Loans Rate Daily Balance Rate Special Car Loan Promotion Variable rate* 7.67%pa $100,000 and over 4.50%pa Personal Loan – Secured Intro 6 month discount (car, boat, caravan) variable rate 7.90%pa $50,000 and $99,999.99 4.25%pa Standard variable rate 9.40%pa $25,000 to $49,999.99 4.00%pa Personal Loan – Unsecured Standard variable rate 11.15%pa $5,000 to $24,999.99 3.50%pa Line of Credit – Unsecured Standard variable rate 11.15%pa Below $5,000 1.00%pa Overdrafts – Unsecured Standard variable rate 11.40%pa Loan offset benefits are calculated on the daily credit balance and credited to the linked loan *Limited time only account at the end of each month. Term Deposits (from 4 Mar 2005) Investment Loans Rate Term in $2,000 to $5,000 to $25,000 to $50,000 to $100,000 to $250,000 Investment Essentials Basic investment loan 6.75%pa months $4,999.99 $24,999.99 $49,999.99 $99,999.99 $249,999.99 & over Investment Plus 1year variable honeymoon rate 6.00%pa 3 4.75% 4.95% 5.00% 5.10% 5.20% 5.30% Standard variable rate 7.00%pa 6 n/a 5.15% 5.20% 5.30% 5.40% 5.50% Investment Access All in one account Variable rate 7.15%pa 9 n/a 5.25% 5.30% 5.40% 5.50% 5.60% Investment Options Interest-only, variable rate 12 n/a 5.35% 5.40% 5.50% 5.60% 5.70% up to 30 years 7.00%pa Interest only, 1 year fixed 6.75%pa 24 n/a 5.40% 5.45% 5.55% 5.65% 5.75% Interest only, 2 year fixed 7.25%pa 36 n/a 5.45% 5.50% 5.60% 5.70% 5.80% Interest only, 3 year fixed 7.50%pa All term deposit rates are per annum. Comparison Rates for Consumer Credit Code Qsaver Rate Term Deposit Regulated Fixed Term Loans Online Savings Account 5.40%pa at call no minimum Type of loan Annual Amount Term Comp. Rate Rate Retirement Savings Accounts (from 1 Apr 2005) Home Essentials 6.75% $150,000 25 years 6.79% Rate (before tax) Rate (after tax) Home Plus 7.00% $150,000 25 years 7.04% Over $50,000 5.25%pa 4.4625%pa Home Plus – 1 year $50,000 and below 4.75%pa 4.0375%pa variable honeymoon 6.00% $150,000 25 years 6.93% Allocated Pensions 5.25%pa 5.25%pa Personal Loan – secured 9.40% $10,000 3 years 9.40% The above interest rates were correct at the time of printing. Members should check Personal Loan – secured 7.90% $10,000 3 years 8.68% to ascertain that this part of the Product Disclosure Statement is current. Intro 6 month discount variable rate Member Service Centres and Administration Personal Loans Qantas Jet Base Sydney Melbourne Maintenance Base Ground Floor Level 3, 261 George St, Sydney Hours 12.00noon – 4.00pm (secured or unsecured) 11.15% $10,000 3 years 11.15%* Administration Building 2 Hours 8.00am – 4.15pm Operations Road Sydney Kingsford-Smith Airport ------------------------------------- Tullamarine Airport Special Car Loan Promo Limited time only Hours 8.00am – 4.15pm Hurstville ------------------------------------- ------------------------------------- 420 Forest Road Hurstville Perth International Airport Standard variable rate 7.67% $10,000 3 years 7.67%* Sydney Airport Centre Hours 8.00am – 4.15pm Engineering and Supply WARNING: This comparison rate applies only to the example or examples given. Different amounts and Ground Floor ------------------------------------- Building, Affleck Road terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost 15 Bourke Road, Mascot Brisbane Airport Perth International Airport savings such as fee waivers, are not included in the comparison rate but may influence the cost of the Hours 7.30am – 5.00pm No. 9 Qantas Drive Hours 8.00am – 4.00pm loan. A monthly repayment frequency has been used to calculate the comparison rates. A comparison rate ------------------------------------- Brisbane Airport ------------------------------------- schedule is available from Member Service Centres or by calling 1300 747 747 or on our internet site. Qantas Freight Terminal Hours 7.00am – 3.00pm Perth Domestic *Calculated on the basis that the loan is secured. Ground Floor ------------------------------------- Ground floor Qantas Freight Terminal Brisbane Maintenance Base Opposite check-in counter 12 Link Road Hangar 3 Hours 10am - 2pm Credit Card Sydney Kingsford-Smith Airport Main Myrtletown Road, Monday, Wednesday, Friday Hours 10.30am – 2.30pm Pinkenba ------------------------------------- Feature QSCU Lifestyle QSCU Lifestyle Plus ------------------------------------- Hours 8.00am – 11.00am Administration Qantas Domestic Terminal 11.30am – 4.00pm Ground Floor, 420 Forest Road Annual fee $0 $30 Ground Floor ------------------------------------- Hurstville NSW 2220 Qantas Domestic Terminal Melbourne Airport Locked Bag 6747 Interest-free days 0 up to 46 Sydney Kingsford-Smith Airport Cnr Centre Road Hurstville BC NSW 1481 Hours 8.00am – 4.15pm and Depot Drive Telephone 1300 747 747 Variable interest rate 10.99% p.a. 14.50% p.a. Tullamarine Facsimile (02) 9582 3400 Hours 7.30am – 3.30pm Hours 8.00am – 5.00pm 5 month introductory rate 4.99% p.a. 4.99% p.a. Contact Numbers Lost or Stolen Cards Telephone Banking (24 hours/7 days) Report lost or stolen CueCards and Telephone 1300 747 747 VISA Cards immediately. --------------------------------------------------------- Telephone 1800 621 199 (24 Hrs Toll Free) Insurance Service Electronic debits and credits – use BSB 704-865 or 1300 747 747 Telephone 1300 747 747 --------------------------------------------------------- --------------------------------------------------------- (for use in Australia only) General Enquiries 8.00am to 5.00pm Financial Planning Service Financial products referred to in QSCU News are issued by Qantas Staff Credit Union Limited, Telephone 1300 747 747 Telephone 1300 737 117 (Toll Free) AFSL no. 238 305, ABN 53 087 650 557, unless noted otherwise. Any general advice in QSCU News has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice you should consider its appropriateness to your circumstances. You should consider our Product Disclosure Statement (PDS) for our financial products, or the terms and conditions for other products, when deciding whether to acquire or hold a product. PDS documents are available www.qantascu.com.au from the "Other Publications" section of our website or from any Member Service Centre.
"Home loans at QSCU"