our newsletter for you - 2014 No.4 It’s Daylight Saving time again! Put some It’s “daylight” between youagain! and Daylight Saving time your bills start “saving” again Put and some “daylight” between you and your bills and start “saving” again. 2014 Annual Result 2014 Annual Result At a packed meeting of over 40 Members and guests, our Chairman, Greg Carll, announced the financial results for the 2014 financial year last month. He was able to report “another successful year” as a result of continued Member support. At a packed meeting of over 40 Members and guests, our Chairman, Greg Carll, Greg reported that NZCU Auckland had an operating surplus of $147,350 which was satisfying given the continuing tough announced the financial results for the 2014 financial year last month. He was able times. Our reserves now stand at $3.621 million which indicates our very strong financial position. to report “another successful year” as a result of continued Member support. He also thanked all our Members for banking with NZCU Auckland, “we value and appreciate your support. Without Members there is no Credit Union and I urge you all to encourage your family and friends to bank with us,” he said. Greg reported that NZCU Auckland had an operating surplus of $147,350 which was General Manager, Rob Collins, also commented on the value that the Credit Union gave back to Members through low satisfying given the continuing tough times. Our reserves now stand at $3.621 interest rates on loans, high interest rates on savings and rebates on fees. “Over the last 12 months the average interest million which indicates ourtovery strong rate charged on loans declined again the lowest level financial in 5 years,” heposition. said. He also commended on another successful School Scholarship Programme, the Annual Member Survey and a new initiative He also our Members forin banking with NZCU Auckland, “we value and called “Can thanked Do”. (The last all two events are detailed later the newsletter.) appreciate your support. Without Members there is no Credit and I urge The meeting was also the final AGM for two retiring Directors – Doug McLaren and Ray Tibbits. Doug hadUnion been an Independent you allforto your family andforfriends to thanked bank both with us,” heinvaluable said. input and Director the encourage last 5 years and Ray a Member Directors 3 years. Greg men for their commitment to the Credit Union during their time on the Board and both would leave “big shoes to fill”. General Manager, Rob Collins, also commented on the value that the Credit Union gave back to Members through low interest rates on loans, high interest rates on savings and rebates on fees. “Over the last 12 months the average interest rate charged on loans declined again to the lowest level in 5 years,” he said. In their place, the Members elected two new Directors, Slavica Marsic and Teresa Davies. Both the new Directors have vast Credit Union experience and are strong participants in the NZCU brand. Slavica is a current Director and previous Chair of NZCU Steelsands and has been involved with Credit Unions for 13 years. Teresa is currently Chair of NZCU Employees and has previously been Chair of Credit Union Bay Health. She has also been involved with the Movement for over 14 years. For a copy of our Annual Report, please contact your branch. 2014 Annual Member Survey We repeated our Annual Member Survey in July, the fourth time we have carried out this exercise. A big “thank you” to all Members who participated and who showed their support for us. The results again speak for themselves. You told us that you thought our service had improved in every measurable area. For example: Statements 2014 2013 Friendly staff 95.90% 94.35% I own my bank 54.92% 48.76% Help with managing my money 75.41% 59.72% Understanding my needs 81.97% 68.90% Always helpful 93.44% 85.16% Deliver on promises 74.59% 58.66% Convenient locations 73.77% 56.89% Cheap loans 72.13% 61.84% Good interest on savings 54.92% 45.94% Good Term Deposit rates 36.89% 31.10% Overall Rating 93.07% 90.61% An overall Satisfactory Rating of 93.07% is very important to us and we are committed to trying to improve it even further next year. NZCU Auckland – the home of “easy banking” and the place for car loans – we won’t be beaten on any car loan deal. Check us out for the best interest rate, the lowest fees and the cheapest car insurance! on your side 2014 No.4 Why bank with a Credit Union? CREDIT UNIONS  Each Member is an owner of the Credit Union. Members can vote in electing Directors; can stand for election to the Board. Members have a say in how their Credit Union is operated.  Credit Unions are local and are there to serve its membership. Credit Unions are not-for-profit financial cooperatives, whose earnings are paid back to Members.  Credit Unions focus on savings, loans, investments and services needed by Members. BANKS X Bank customers have no ownership of their bank. XBanks are mostly owned overseas. Customers don’t have voting rights and have no say in how the bank is run. X Banks concentrate on big business. X Banks are for big profits. X Banks focus on commercial loans and business accounts. We’re in 1st place when it comes to looking after YOU! NZCU Auckland – the home of “easy banking” and the place where there are no transaction fees if you have at least $5,000 in savings! Win an Amazon “kindle touch” Simply update your email address with us and we’ll put you in the draw for an amazing new kindle with 6”/15cm easy touch screen display. Name: _________________________________________________ Mbr. No. _______________________________________________ Email address ___________________________________________ The draw for the “kindle touch” will be made on 4th November 2014. NZCU Auckland – the home of “easy banking” and the place where you get lower interest rates on your loans and higher interest rates on your savings! on your side 2014 No.4 on your side • our newsletter for you - 2014 No.4 “Can Do” Our staff and Members have definitely shown a ‘Can Do’ attitude, collecting more than 800 cans and other food items for the local Salvation Army food bank. The ‘Can Do’ initiative ran for the month of August and has been a roaring success, with the wider community getting involved and helping the cause. We were absolutely thrilled with the result and would like to acknowledge the generosity of our Members and the South Auckland business community who have contributed to making ‘Can Do’ such a success. Special recognition goes to the following people and companies who made a real effort to contribute: • • • • • Ports of Auckland Keryn Corrigan of Acton International Marketing Ltd Doug McLaren & Jensen Transport Michael Wood of William Buck Christmas Gouwland Superior Personnel • • • • • Team Recruitment NZACU staff Stace Hammond Solicitors Bernie Brown Jeff Barkwell The photos show some of the food delivered to The Salvation Army food bank. The Salvation Army, who runs the food bank and distributes emergency food parcels, were delighted to be given a helping hand. It’s a hard time of year for many families when bills are high and they are often short when it comes to buying groceries. Through the “Can Do” programme, we were able to make a big difference to many needy families. NZCU Auckland – the home of “easy banking” where you are an owner! 695 Great South Road PO Box 12564 Penrose Auckland 1642 TEL 09 579 1026 FAX 09 579 8396 enquiries@nzcuauckland.co.nz www.nzcuauckland.co.nz On your side is produced quarterly by NZCU Auckland and may be downloaded from www.nzcuauckland.co.nz. The content of this publication does not necessarily reflect the views and policies of NZCU Auckland. Reprinting: On your side articles may be reprinted provided proper acknowledgement is made to the author and to On your side as the source. Credit Union deposits are unrated shares secured by a first-ranking registered Trust Deed. A current Prospectus and Investment Statement and Disclosure Statement can be obtained from the Credit Union. NZCU Auckland is not a registered bank. *All interest rates subject to change without notice. Loans subject to credit policy.