This month I personally had the pleasure of awarding two of our three BankVic Community Hero Award winners and I must say the presentations made me so proud of the communities and the members that BankVic serve.
This award has highlighted so many amazing stories. We are so grateful to our members who dedicate their time outside of their day to day lives to help others and strengthen the communities we live in.
Back in March to commemorate our march to reach 100,000 members, we launched our Community Hero Award asking members to nominate those members of our community who went above and beyond their daily lives to make our community a stronger and healthier place to live. Five months on, 144 nominations received, 12 finalists shortlisted and our winners were finally determined.
Sue Contarino, Peter Keach and Britney Allen were our very worthy Community Hero Winners who were awarded first, second and third prizes (respectively). Because we thought they were so special we kept the announcements secret surprising each of them by presenting them with the award in front of their family and friends. It made for some very emotional moments.
All three community heroes stood out for their outstanding courage in overcoming great adversity to inspire us with their brave, generous and heroic deeds. Well done.
We are so proud of our BankVic Community Hero Award winners.
In early July, BankVic staff had the privilege of participating in the Law Enforcement Torch Run as part of the Special Olympics Opening Ceremony.
“Joining all the participants from the Special Olympics in the Torch Run was such a highlight. Their enthusiasm and team spirit was infectious,“ said Joe Dascoli, World Trade Centre Branch Manager.
Our staff also lent their support by selling merchandise and assisting with the medal presentations at the Basketball and Ten Pin bowling competitions.
The Special Olympics offers people living with intellectual disability, opportunities for development and social inclusion through sport. We are so proud to again be a partner of this event. Well done to all of the participants. We think you are amazing.
On Sunday 24 July, 48 BankVic staff, family and friends got up early and participated in Run Melbourne as part of the Monash Children’s Hospital team with funds raised going towards the new hospital.
This was a great initiative to be part of knowing all our efforts were going towards helping sick children within our community. We also donated some wonderful prizes including premium tickets to the Moscow circus, to help encourage all of the team’s participants to raise as much funds as possible for the hospital.
On 21 June for the second year in a row, a number of BankVic staff joined the Victoria Police Muslim Association (VPMA) for their second annual Iftar Dinner to commemorate Ramadan.
The VPMA supports Victoria Police employees of Islamic faith and aims to promote social harmony and cohesion and the profile of Muslims working in the Victoria Police.
On June 25, a group of BankVic Directors, CEO and staff got glammed up to support the Royal Melbourne Hospital’s Celebrating Research Gala at the Glasshouse, Olympic Park.
The event raised funds for the Hospital’s Research arm. Congratulations to Associate Professor Mark Walterfang who was the recipient of the 2016 RMH Research Medal announced on the night.
Our BankVic staff trivia buffs attended Epworth HealthCare’s Mental Health and Rehab staff trivia night in July.
It was a Christmas in July theme and funds raised went towards new equipment for the Mental Health and Rehab Department. Thanks Epworth HealthCare, we were delighted to support such an amazing night.
An important part of the wedding vows is “for richer or poorer” and we’d all prefer the former! But after the euphoria of the wedding day passes, many couples leave their financial management to chance with money often becoming a bone of contention if each has different goals and attitudes.
It’s unlikely that anyone would vow on their wedding day “I will love and honour you, keep only one credit card and pay it off every month”, but seriously, couples need to develop their own financial vows. It’s not very romantic however this five-step guide could save a lot of heartache.
Step 1 - Prioritise
Agree on what is most important to you both. You could spend big on lifestyle. You could save to afford a house, children, retirement or some other goal such as further education. Once you’ve agreed on a list, give it a name (something original like “Our Money Plan”), put it on paper and post it on the fridge where you see it every day to keep you focused.
Step 2 - Know where your money goes
If you can’t measure it, you can’t manage it. However boring it may seem, you need to look at your spending and decide if it is consistent with your priorities. This can be easily done by regularly checking your bank and card statements.
Step 3 - Don’t eat your money
Most cash spending goes on food, so if you ever wondered where that $100 you withdrew from the ATM only yesterday went – you probably ate it! Reduce impulsive food buying by eating before you shop so you’re not hungry and shopping only once per week. One weekly trip to the supermarket will also cut petrol costs.
Step 4 - Shop wisely
When you are spending on larger items, think before you buy. Do you need the big brand name? Maybe yes on electrical goods but maybe not on new clothing. Comparison-shopping does make a difference and there are many websites to help you find the best deals (be aware that a lot of comparison sites only show those providers who have paid for a listing so the reviews can be skewed).
Step 5 - Keep talking
Having a plan is no good unless you review it from time to time. This is a time to leave the boxing gloves off – because you will both make mistakes and maybe even cheat on your agreements. Your priorities will change over time and your Money Plan will change too. It’s important to agree on your goals, maintain good communication and keep your sense of humour. Whilst these steps were written for newlyweds, they are just as appropriate for any couple, families, empty nesters and retirees... it’s never too late to start.
Welcoming a new family member is exciting but with so many aspects of your life changing, when it comes to your finances some forward planning can make the transition so much easier.
Fortunately, babies allow several months to prepare for their arrival and it’s easy to get caught up in the excitement. When making preparations it’s important to have all of Bub’s needs ready; but it’s equally important for Mum and Dad to be financially organised.
It’s wise to conduct a review of your financial affairs as early as possible, even before you start your family. A good idea is to draw up a “baby-budget”. Do this by listing all household income and expenses under three columns: before pregnancy, during pregnancy and after pregnancy.
This allows you to see and compare your financial position at the different stages you’re going to experience.
If you have difficulty keeping track of incidental spending you’re not alone – many people can’t account for where their money goes. To help, ASIC has developed an app you can download from its Money Smart website, moneysmart.gov.au called TrackMySpend. It suggests using this app for two weeks prior to completing your baby-budget and reports that people are often surprised by the results.
Determine your entitlements
At least one parent will probably take time off work and the potential reduction of household income can be daunting. Understanding your support entitlements upfront can relieve some of the worry.
The federal government offers eligible parents up to 18 weeks Parental Leave Pay. Centrelink has a Paid Parental Leave comparison estimator on its website, humanservices.gov.au. This tool will estimate your entitlement and enable you to determine the best option for your family.
If you decide to return to work after Bub arrives, you may qualify for government assistance with the cost of childcare. The Department of Human Services can provide information about your eligibility. See humanservices.gov.au.
Planning = less stress
People often set up a savings strategy for key life events like buying a home, a major holiday or retirement. Having a baby is more than a key event – it’s life-changing – yet few people consider saving for it.
Your financial adviser can assist you in creating a practical household budget, and set up a savings plan that will help cover large or unexpected costs. At this time you should also consider life insurance to protect your family’s future.
Planning ahead will provide peace of mind and place you in the best possible position to welcome the newest member of your family.
Sources: ASIC’s MoneySmart website www.moneysmart.gov.au Having a baby; Trackmyspend Federal Government’s Human Services website www.humanservices.gov.au Parental Leave Pay; Compare your payment rates
There’s nothing better than that butterfly feeling when heading to the airport for that overseas trip. The anticipation and excitement of adventure in discovering new lands and immersing yourself in a different culture – interesting people, exotic smells, unspoken languages and delicious foods.
Yet, there’s nothing worse than that sinking feeling of driving to the airport worrying about all the things you haven’t done – have you turned the oven off, blown out that candle, double locked the door, taken out ‘Travel Insurance?’
To ease your mind and help you focus on that trip of a lifetime, check off these five must do’s before you travel.
Finally, relax and enjoy – travel broadens our minds and soul and at least you don’t have to take the bins out!
Find out the best travel insurance policy for you. Call us on 13 63 73 between 8.00am and 5.00pm AEST, Monday to Friday, visit bankvic.com.au/insurance or drop into a branch.
We want all our members to enjoy the artistic abilities of our Little Copper Club members. Do you think Little Copper Club needs a mascot? We’re looking for inspiration and ideas and this is where you can help us. Come up with a design or character that you think represents the Little Copper Club. Maybe it could be a bear called Colin or a star-woman called Bronte? The winning entries will be published on our Social Media, website and Member Matters.
Remember you must be a member of the Little Copper Club to enter. There are two categories – under 9 years of age and 9 years and over. All entries must be received by 5pm, 1 September, 2016.
To enter, send your entry to BankVic via email at firstname.lastname@example.org or post to: BankVic, Reply Paid 90210, MELBOURNE, Victoria 8060.
Congratulations to Bronte, the winner of our Little Copper Club education grant. Bronte has won $1000 towards her education costs.
Congratulations to Julia and Simon Peeters, winners of our $1,000 CGU Renewal competition.
Keep an eye out in September
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