Wednesday, 20 November 2024 19:11
GWS SETTLEMENT CONSORTIUM LAUNCHED
New org to support newly arrived migrants
ASSISTANT Minister for Citizenship and Multicultural Affairs Julian Hill has officially launched the new Western Sydney Region Settlement Consortium (WSRSC) at a special community event in Blacktown recently.
ASSISTANT Minister for Citizenship and Multicultural Affairs Julian Hill has officially launched the new Western Sydney Region Settlement Consortium (WSRSC) at a special community event in Blacktown recently.
Tuesday, 19 November 2024 05:43
FIVE NEW CARE COTTAGES FOR CHILDREN
New path to delivering stability and safety
THE NSW Government has opened the first of five new properties in Western Sydney ensuring more vulnerable children are moved from unsuitable emergency accommodation and into more stable homes.
Saturday, 09 November 2024 08:39
WEXPO GOES MOBILE WITH SCHOOL EDITION
Melissa Wu at CathWest Innovation College
WESTERN Sydney’s leading business - community expo series has gone mobile.
WESTERN Sydney’s leading business - community expo series has gone mobile.
Sunday, 03 November 2024 16:38
WSU WANTS ACTION ON THE COST OF DEGREES
System remains "deeply unfair": VC
REDUCING student debt and changes to when graduates start repaying their loans are significant steps to tackling cost-of-living pressures but unfinished business remains on the initial high cost of degrees, Western Sydney University (WSU) said.
REDUCING student debt and changes to when graduates start repaying their loans are significant steps to tackling cost-of-living pressures but unfinished business remains on the initial high cost of degrees, Western Sydney University (WSU) said.
Sunday, 03 November 2024 06:30
TIME TO CALL STOP ON BUS SHELTER MISERY
Most have no shelter, no shade, no seating
THE peak body representing councils in Greater Western Sydney, the Western Sydney Regional Organisation of Councils (WSROC) is calling out a galling inequity in the public transport system — a glaring shortage of bus shelters in Sydney’s west.
Friday, 01 November 2024 07:24
LOCAL OUTRAGE AT BANK BRANCH CLOSURE
Commonwealth Bank to shut down Doonside
THE Commonwealth Bank’s announcement that it plans to close its Doonside branch has been met with outrage as local MPs, businesses, Council and residents condemning the decision.
Tuesday, 29 October 2024 06:25
CUSTOMER-OWNED BANKS GIVE MORE
Community investment tops the big banks
CUSTOMER-owned banks are giving back to their communities at a rate nine times higher than the major banks, according to the Customer Owned Banking 2024 Impact Report.
Credit unions and mutual banks dedicated 5.2% of their profits to community and charitable organisations, totalling $38.4M. In contrast, major banks contributed 0.6% of their profits.
“Customer-owned banks are deeply rooted in the communities they serve, and often support grassroots organisations to meet the unique needs of their members and the local area,” Customer Owned Banking Association (COBA) CEO Michael Lawrence said.
“This International Credit Union Day, we are proud to showcase the incredible impact customer-owned banks have on Australia. Not only do members enjoy competitive rates and better services, but they also benefit from knowing their local communities are being strengthened,” he added.
Customer-owned banks are often leading the way in value. The report, which is written by leading economist Nicki Hutley, found that mutual banks and credit unions offered average variable home loan rates 0.4 percentage points lower than those offered by major banks. While individual rates vary between customer-owned banks, this average difference equates to over $2,000 in interest saved annually on a $600,000 mortgage.
“Customer-owned banks are owned by their members, which means they are driven by a unique purpose: to prioritise the people and the communities they serve, rather than squeezing profits out of customers to pay dividends to shareholders. That’s why customer-owned banks can deliver outcomes that genuinely benefit their members including competitive rates, market-leading service and significant contributions to their local communities,” Nicki Hutley explained.
However, the report states Australia ‘fares particularly poorly’ when it comes to competition in the banking sector which is dominated by the big four banks, with regulatory arrangements often disadvantaging smaller players.
“Customer-owned banks are essential for a truly competitive and dynamic financial system, providing Australians a distinct alternative to shareholder-owned banks. Government and regulators have important roles to play in taking an appropriate approach, and ensuring consumers have genuine choices when it comes to financial institutions,” Ms Hutley added.
Customer-owned banks also reinvest profits back into better services, which has resulted in market-leading customer satisfaction ratings for the sector compared to the major banks for over two decades.
With over 11,500 full-time employees and many mutual banks and credit unions headquartered outside major cities, the customer-owned banking sector plays a vital role in supporting regional economies. Employee satisfaction is strong, as evidenced by an average staff tenure of 7.5 years – more than double the national average of three years and four months.
With 55 customer-owned banks to choose from, COBA has developed Find-a-Bank; an online tool which helps Aussies find a purpose-led bank that aligns with their needs and values. To find a customer-owned bank that suits your needs and values, head to findabank.com.au
Wednesday, 23 October 2024 13:27
JUDGES PRAISE HAWKESBURY LOCAL BUSINESSES
Businesses set for gala event at Windsor
THERE is less than two weeks left until the winners of the Hawkesbury Local Business Awards are announced at a gala presentation to be held at the Windsor Function Centre.
Saturday, 05 October 2024 15:53
HOLISTIC OFFERING FOR JOB SEEKERS
Salvos ramp up local support
THE recently launched St Marys Salvation Army Employment Connect Hub has opened its door to jobseekers offering a plethora of services leading to better opportunities.
Saturday, 05 October 2024 15:47
BUSHFIRE SEASON MENTAL HEALTH CONCERNS
CEO urges people to seek support
WENTWORTH Healthcare, the provider of the Nepean Blue Mountains Primary Health Network, is encouraging the community to prepare their mental wellbeing, as well as their homes, for the upcoming bushfire season.
