News Category
21-25 May National Scams Awareness Week 2018
Tuesday, 08 May 2018 13:55
National Scams Awareness Week is an annual awareness-raising week run by the Australian Competition & Consumer Commission. This year, the Government's Stay Smart Online site have written the below article urging Australians to be on the lookout for threat-based impersonation scams by taking a moment to ask - ‘Is this for real?’.
If you ever suspect that you are a victim to a scam, contact our staff at Northern Inland immediately.
RBA Rate April 2018
Wednesday, 04 April 2018 11:01
Slow wage growth keeps RBA Rate at 1.50%
The Reserve Bank has maintained the official cash rate at 1.50% for the month of April 2018. The RBA last cut the cash rate in August 2016, following an earlier cut to 1.75 per cent in May. There has not been an official cash rate increase since November 2010.
Experts suggest that due to slow growth in wages as well as the sluggish housing market, we won’t likely be seeing a rise in the official cash rate until 2019 at least. Despite this, the job market continues to grow and mortgage rates remain low – especially for owner occupiers who tend to pay both their interest and principal amounts.
Gradual progress to reduce unemployment and maintain inflation targets is also expected. While unemployment has declined over the past year, it has been steady around 5.5% over the past six months. A significant rise in labour force participation, particularly by women and older Australians, had contributed to the recent stabilisation in the unemployment rate despite “strong growth in employment”.
Higher levels of public infrastructure investment, along with an expectation of “stronger growth in exports”, are two factors that would help to underpin Australia’s GDP growth. However, household income has been growing slowly and debt levels are high.
Governor Philip Lowe has stated that “A number of advanced economies are growing at an above-trend rate and unemployment rates are low. The Chinese economy continues to grow solidly, with the authorities paying increased attention to the risks in the financial sector and the sustainability of growth.”
“Globally, inflation remains low, although it has increased in some economies and further increases are expected given the tight labour markets. As conditions have improved in the global economy, a number of central banks have withdrawn some monetary stimulus and further steps in this direction are expected.”
For the official RBA article, please visit the Reserve Bank’s website.
ATO First Home Super Saver Scheme
Wednesday, 28 March 2018 11:29
The First Home Super Saver (FHSS) Scheme was introduced by the Australian Government in the Federal Budget 2017–18 to reduce pressure on housing affordability.
The FHSS Scheme allows you to save money for a first home inside your superannuation fund. This will help first home buyers save faster with the concessional tax treatment within super.
Read our latest Blog where our financial planning partner, Bridges, explains the benefit of saving within your super and phone us on 02 6763 5111 to make a loan appointment for your first home today.
14 Feb 2018 | Beware of fraudulent emails
Wednesday, 14 February 2018 15:41
There have been a number of phishing cases advised to the financial services industry in recent weeks where members and non members are receiving a message asking them to complete a form to update details. Some of these have sought to capture card, CVV2 and expiry details whilst others have requested access codes and/ or Member numbers- these forms have been customised to the relevant Financial Institutions branding.
Please be vigilant with all emails and requests and if you are unsure of their origin, contact us immediately on 02 6763 5111.
Beware of Counterfeit $50 notes
Wednesday, 07 February 2018 14:36
Northern Inland wishes to advise that police from Gunnedah are investigating reports of the use of counterfeit fifty dollar notes in local businesses.
The notes are easily identifiable with chinese characters where the serial number should be.
Business owners are urged to ensure they check notes before acceptance, and report all counterfeit currency to their local Police.
Persons in possession of counterfeit money face a term of imprisonment for up to ten years.
CEO Update December 2017
Friday, 08 December 2017 10:32
CEO Update
Northern Inland continues to perform well in a tough and competitive market due to strong support from our Members. Our deposit balances continue to grow and are currently at record levels of just under $247 million. This means we are in a great position to lend money to Members for personal, home, investment and commercial projects. Assets continue to grow and we expect assets to exceed $300 million by the end of this financial year.
1 Dec 2017 | Community research calls
Thursday, 30 November 2017 12:49
Northern Inland Credit Union is currently undertaking market research interviews by phone. This research will involve contacting Members and Non-Members from within our Tamworth, Gunnedah and Narrabri communities.
The purpose of this research is to improve our understanding of your banking needs.
If you require further information about this research, email marketing@nicu.com.au or contact Natasha Beer on 02 6763 5111.
Successful International Credit Union Day celebrations
Friday, 24 November 2017 09:21
Thanks to all members of our communities across our branch network who supported us in our celebration of International Credit Union Day®, in October and November 2017.
This annual event commemorates the credit union movement’s impact and achievements, and promotes the traditional credit union philosophies which are focused on personal service and community support. In honor of this special day, Northern Inland celebrated with its Members and the entire community at four events hosted by our local branches. The events included a delicious Cupcake for a Cause, where by Members and the community were invited to purchase a cupcake to raise money for a local community group, chosen by each branch.
Read more: Successful International Credit Union Day celebrations
New fast payments coming in 2018
Thursday, 23 November 2017 14:13
Northern Inland is excited to announce that Members will soon be able to make and receive real-time payments via 'Osko' as part of the Australia wide banking initiative New Payments Platform (NPP).
This new, fast payments service will allow Members to make payments in in real-time, 24 hours a day, seven days a week to other financial institutions participating in NPP. Northern Inland is one of over 50 Australian financial institutions that will be rolling out this new service in the New Year.
Colouring In Comp Winners
Wednesday, 22 November 2017 14:55
Announcing the winners of our Colouring in CompetitionCongratulations to all the budding artists who entered our Super Saver colouring-in competition. The entries were judged by Wendy Sullivan from the Tamworth Craft Centre and the winners were notified on 24 November. Thanks for supporting Northern Inland's International Credit Union Day celebrations. Read more: Colouring In Comp Winners Page 4 of 5 |