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HAPPY BDAY BPAY

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BPAY are giving away $50,000*. Pay a bill with BPAY & register to win $100 off your next bill. PLUS go into the draw to win $5,000 worth of BPAY payments.

For more information and how to register go to http://www.bpay.com.au/bpaybday

 

Fee Changes Result in Larger Free-ATM Network

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In recent weeks, several of Australia’s major banks have resolved to abolish withdrawal fees for non-customers. Commonwealth, Westpac, ANZ, and NAB have all announced that they will no longer charge other financial institution customers for the use of their ATMs.

What does this mean for Bankstown City Unity Bank members?

In addition to the rediATM, NAB, and Cashcard network, you can now use ATMs branded by Commonwealth, Westpac, and ANZ without incurring a Direct Charge withdrawal fee.

Please be aware of the following:

  • Your use of rediATMs, NAB ATMs and Cashcard ATMs is unaffected by this change
  • Fee-free transactions may not yet be available at all ATMs as these changes will take time to be implemented across Australia
  • Some ATM brands may apply fees at some locations and not at others
  • Current account fees are not impacted by this change, such as: Excess Transaction Fees

Some ATM owners may charge a fee for using their ATM. This fee will be disclosed upfront, providing you with the option of cancelling the transaction without incurring the fee.

If you have any questions or concerns with the changes to the ATM fees, please contact one of our Member Service Officers on 1300 65 4477. 

 

WHAT WILL YOU DO FOR INCOME WHEN YOU STOP WORKING?

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Retirement planning is about preparing for life after work.

When you start planning for retirement, you want to start as early as possible so you have time to boost your super and take advantage of compounding returns over time.

A comfortable retirement means different things to different people, and will ultimately depend on your current lifestyle and future lifestyle expectations.

To begin with, you need to work out - how much you’ll need in retirement, how much you’ve saved to date and how much you’ll need to save before actually retiring.

There are online calculators you can use to help you explore how small changes in variables such as contribution rate, investment option, retirement age, and more can impact your future retirement income.

Once you’ve had a chance to think about it – talk to a financial planner who can help you assess your personal situation with the big picture in mind.

As a member of Bankstown City Unity Bank there’s plenty of help available to you including:

·         Online calculators and videos to learn more about retirement planning

·         Financial advice on investments and contributions, over the phone, free of charge

·         Fact sheets on a number of super and investment topics

·         Guidance on what to expect for your first meeting with a financial planner

·         Online appointment bookings and much more…

Call Peter Colquhoun our Senior Certified Financial Planner today! Your first appointment is FREE.

Call: 0448 470 597

Email: pcolquhoun@reliancebank.com.au

   

AGM NOTICE

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Members are advised that the 2017 Annual General Meeting of Unity Bank will be held as detailed below

Date  22 November 2017
Time 3pm
Venue Ground Floor Training Rooms
365 Sussex St, Sydney NSW 2000








Please confirm your attendance, in any of the following ways: 

  1. Call 1300 36 2000 and advise your attendance 
  2. Emailing ReturningOfficer@unitybank.com.au 

Click here for Proxy Form 

Click here for more information 

 

IS YOUR SUPER ON TRACK FOR A HEALTHY RETIREMENT?

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Whatever your age and no matter how much money you have, now is the time to start building your super. Make a few small changes and watch your super money grow.

How much is enough? How much extra money you contribute to your super depends on what you'll need to live off once you retire. The amount of super you need depends on: How long you live, what type of lifestyle you want and Future medical costs.

The table below will give you a rough idea of how much money you need to support a modest or comfortable retirement. It applies for people retiring at age 65 who will live to an average life expectancy of about 85. It assumes you own your home.

 

Annual Living Costs

Weekly Living Costs

Couple- modest

$34,560

$663

Couple - Comfortable

$59,619

$1,143

Single - Modest

$23,996

$460

Single - Comfortable

$43,372

$832

 

Employer contributions - By law, your employer must make super contributions into your super account. The contributions are based on 9.5% of your 'ordinary time earnings'. So if you earn $67,000 per year they should be contributing $6,365 into superannuation.

You are eligible to receive super from your employer if you

  • Earn $450 or more a month
  • Aged over 18 years old
  • Also if you are under 18 you are eligible to receive super if you work more than 30 hours a week.

 

Contributing extra to super - Making super contributions is a great way to boost your super balance. You can build your super by making after-tax contributions from your own money or by salary sacrificing.

Salary sacrificing is when you ask your employer to redirect a portion of your pay as a contribution to super. By 'sacrificing' some of your before-tax salary and putting it into your super fund, you get taxed at the special rate of 15%.

After-tax contributions are known as 'non-concessional contributions' because you don't receive a tax deduction. After-tax contributions are the simplest way to add to your super as you simply deposit your personal money into your super account.