November 2009

TCU launches Visa Debit Card

TCU is happy to have a new Visa Debit card for our members.

Our members told us that sometimes they want to buy things from Darwin or from internet, and it was hard because they didn’t have a visa card number.

The new TCU visa debit card means that our members can buy things over the phone or on the internet, using your own money from your S1 account.

The card has a PIN number and you can use it to buy things on EFTPOS and to get cash out from an ATM by pushing the Credit button.

The card uses your own money from your S1 account, so you don’t go into any debt.

But if you don’t have enough money in your S1 account then the Visa debit card won’t work.

The fees on the visa debit card are the same as the cuecard.

To get a new visa debit card you need to visit your TCU branch and fill in the paperwork, and then it will take about 2 weeks to make the card and then we post it to you from Darwin.

October 2009

Traditional Credit Union wins Deadly Award

Darwin-based Traditional Credit Union (TCU) has won the 2009 Deadly Award for Contribution to Employment.

The Deadly Awards recognise the top achievers in the Aboriginal and Torres Strait Islander Community. There were more than 8,000 nominations and 80 finalists for this year’s awards.

Other winners the 15th annual Deadlys include musicians Jessica Mauboy and Gurrumul Yunupingu and footballers Jonathan Thurston, Michael O’Loughlin and Jamal Idris.

TCU is Australia’s only Aboriginal-owned banking institution and is the only Authorised Deposit-taking Institution (ADI) based in the Northern Territory. TCU has 13 branches across the Top End of the NT.

“Everyone here at TCU is so proud to win a Deadly,” said TCU chief executive officer Cathy Hunt. “We are up on stage with the stars of the indigenous community.” TCU last night also won the National Diversity@Work Award for Employment & Inclusion of Indigenous Australians.“ This is the second year running that we have won this National Diversity@Work Award, so we are being recognised for doing a good job and doing it consistently,” Cathy said. “TCU successfully operates in two very different worlds. We hold a banking licence in the strictest regulatory framework in the financial sector and we meet the needs of a disadvantaged customer base where English is the second language.

“As an ADI, TCU is subject to the same strict regulatory framework that applies to banks. ADIs are subject to intense supervision and strict prudential standards on capital, liquidity, risk management and governance. TCU’s deposits are covered by the Federal Government’s deposit guarantee,” Cathy said.

October 2009

TCU removes the Direct Credit Fee

Traditional Credit Union is today pleased to advise a change to its fees and charges. The removal of the ‘Direct Credit Fee’ of $10.00 and the introduction of a Monthly fee was based largely on feedback from our members.

The removal of the ‘Branch Cash Withdrawal fee’ of $1.50 is particularly exciting, giving our members a free withdrawal option and offering real savings if our members use their community branch instead of the store ATM’s for withdrawals and balances.

Morgan Hoyes, Business Development Manager said “We have 12 branches in very remote communities in the Territory which are there to serve our members. We are very excited to offer our members the chance to save money by using their local TCU branch. We hope that our members will use their community TCU branch for their balances and withdrawals and save money by not using ATMS.”

Morgan Hoyes, Business Development Manager said “We have 12 branches in very remote communities in the Territory which are there to serve our members. We are very excited to offer our members the chance to save money by using their local TCU branch. We hope that our members will use their community TCU branch for their balances and withdrawals and save money by not using ATMS.”

The fees paid by members are used to pay for the running of TCU community branches, providing a real banking service as well as employment and training opportunities for indigenous people living in those very remote communities.

October 2009

NT business takes a stand on Indigenous Rights

For the second year running, Traditional Credit Union (TCU) was honoured as a leader in the employment and inclusion of Indigenous Australians (small to medium organisation) at the 2009 Diversity@Work Awards.

The Diversity@Work Awards celebrate organisations and individuals who implement strategies to embrace the diverse community within their workplace.

“2009 has undoubtedly been a year of exceptional pressures on businesses, government and communities within Australia. Numerous organisations were required to critically examine their operations and drastically scale back on programs, initiatives and employee numbers which has undoubtedly impacted workplace diversity programs and diversity groups, the silent victims of the Global Financial Crisis,” says Mark.

“Therefore, I find it truly heartwarming to bear witness to organisations, such as the Traditional Credit Union who have maintained their focus and stood firm to their convictions within these tough times.”

The 2009 Diversity@Work Awards were attended by Reverend Tim Costello, World Vision Australia, The Hon. Bill Shorten MP and Graeme Innes AM, Commissioner, Australian Human Rights Commission. The 2009 Awards are proudly sponsored by: Silver Sponsors: Australia Post and the Australian Government Department of Health and Ageing. Bronze Sponsors: Aegis Aspire, AMES, ANZ, Deakin University, Department of Transport, Ernst & Young, Learning Seat, Mercy Health, NEEOPA, Randstad, SageCo Pty Ltd, TAC, Victoria Police and Victoria University. Media Partners: Human Capital Magazine, The Big Issue and Uneek Magazine. Supporters: ACE National, Atlantic Group, National Disability Service, Saxton Speakers Bureau, Tribes and Nations, VCOSS and World Vision. Further information on the 2009 Diversity@Work Awards can be found on the website: on the www.diversityatwork.com.au

September 2009

People of Warruwi and TCU working together to improve banking services on Goulburn Island

The Warruwi community on Goulburn Island are set to make the most of their newly improved banking facilities with a recent upgrade from a TCU agency to a fully operational TCU branch.

The Warruwi community who have been using a successful but limited TCU agency service since 2002 were understandably excited with the improvements to this service in their small but strong community. This upgrade of services will help to better serve TCU members as well as support the TCU’s continued growth in the region.

Sam Wees, local branch supervisor said he was excited to be able to provide a better service to his community stating “This community, as well as myself have been waiting a long time for this upgrade and I am proud to be here and provide what TCU has to offer to the people”.

This upgrade streamlines the Traditional Credit Union’s capabilities and enables us to now offer the same services to all of our members from every branch location.

The Traditional Credit Union is a proud and passionate organisation providing financial services and employment opportunities in remote areas of the Northern Territory. TCU currently operate twelve branches in remote communities in the Top End as well as a Head Office in Darwin. Traditional Credit Union currently employs 60 people throughout its branch network, with 40 of these people located in remote communities. 75% of TCU staff are Indigenous which allows TCU customers to access a more personalised and tailored banking service.

August 2009

TCU and nab partner to support GARMA 09

The Traditional Credit Union (TCU) recently sponsored of the Garma Festival, Australia’s premier Indigenous cultural exchange event held annually in the Northern Territory.

Cathy Hunt, General Manager of TCU said the Garma sponsorship was a good match for the work the TCU is doing with Indigenous communities in the Northern Territory, particularly around financial inclusion.

"For over 13 years, we’ve been working in the Northern Territory delivering quality financial services to over 13,000 customers in remote Indigenous communities," said Cathy Hunt, General Manager of TCU.

"It makes great sense to us as we grow our branch network in the Northern Territory that we also support the communities we are serving in new ways, beyond the bricks and mortar of our branches and the services we offer."

The TCU sponsorship of Garma was made possible through the assistance of the National Australia Bank (NAB). The TCU is one of NAB’s key community partners.

"We’ve got a unique relationship with NAB and we’re most appreciative of their support for the TCU," added Ms Hunt.

Richard Peters, NAB’s Head of Community Finance and Development said that as one of the most important Indigenous think-tank events in Australia, Garma and its Key Forum – with a Regional Economic Development stream - will help NAB to further define how it can best support the needs of remote Indigenous communities.

"Garma is time out to listen, learn and think about Indigenous issues and celebrate Indigenous culture - that can only deepen our understanding and support for the Yolngu people, and more broadly, Aboriginal and Torres Strait Island people," said Mr Peters.

June 2009

David Knights from nab joins the TCU Board

David is a senior executive with National Australia Bank.

David has a degree in Engineering and a Masters of Business Administration, and has significant experience in operational, business and change management roles within the financial services industry.

David has been heavily involved in the provision of remote Australia banking services and brings a strong depth of banking and management consulting experience to the board..

David’s wealth of knowledge in the banking and finance sector will help TCU to continue its success, particularly during changing economic and market conditions in the Territory.

David has already begun to make his presence felt, working with the existing board members, TCU management and Stanton’s business partners to produce the TCU 3 year business plan.