Maleny and District Community Credit Union
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Maleny and District Community Credit Union
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E Saver
5.60%pa at call
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for detailsThe Green Star Car Loan
MCU's Green Star Loan just made buying a new car easier.
Not only does it take our precious environment to heart, it comes backed with one of the lowest interest rates in the market. For more information talk to a MCU loans officer today.
For more information see our Loans Information Page.
Your Credit Union is now Australian Government Guaranteed!
Prime Minister Kevin Rudd announced that the Australian Government has provided an unlimited guarantee on deposits for the next three years (expires in October 2011). This guarantee applies to all deposits held with MCU.
MCU, like all the Australian major banks, is an Authorised Deposit-taking Institution (ADI) under the Commonwealth Banking Act and is subject to close supervision by the Australian Prudential Regulatory Authority (APRA). This means MCU must meet the same strict prudential standards on capital, liquidity and risk management that apply to all banks.
E Saver
Earn 5.60% p.a. at call with NO FEES
The New E Saver Account is a savings account only
accessible via the internet for those members who
want to maximise their interest on ‘at call’ funds.
Earn
5.60% p.a.
with E SaverThe E Saver features are:
- 5.60% p.a. variable interest rate
- No minimum balance requirement
- Limit of $200,000 maximum deposit
- Funds are ‘at call’- no fixed term
- Interest calculated daily and paid monthly (Effective Rate 5.75% p.a.)
- Accessible via internet banking 24 hours a day
- Quarterly statement
- Linked to an account of your choice for access purposes
- Deposits raised are lent out for environmentally friendly purposes
That’s no fees, no minimum balances and a 5.60% p.a. variable interest rate
Before applying for the E Saver account you should read and consider the Online Product Disclosure Statement.
Open an E Saver account today and get a great variable rate on your savings.
Apply Online Now!
About Us
About the MCU
Maleny and District Community Credit Union Limited (MCU) is the holder of Australian Financial Services Licence 246921 and is an authorised deposit taking institution (ADI) regulated by the Australian Prudential Regulatory Authority (APRA). Under Depositor Priority Legislation, investors are afforded the same protection that extends to banks.
From humble beginnings MCU has been successfully operating as a community based credit union since 1984. With approximately 4,500 owner members, MCU’s total assets have grown to more than $41 million. MCU offers its members a range of services including on-call savings accounts, term deposits, lending services, insurance and non-cash payment facilities including VISA debit cards, internet banking, electronic funds transfer, BPAY and cheque facilities.
The MCU Board of Directors are committed to long-term sustainability and believe the credit union has social and environmental obligations in addition to providing sound financial management. MCU practices “triple bottom line” reporting as a way of measuring progress and ensuring accountability against its sustainability targets.
While there are other financial institutions in Maleny the deposits we raise from members are primarily reinvested back into the community using locally developed policies. By performing this role we help to prevent the leakage of capital from our bioregion.
MCU practices socially responsible investment by:
- advancing loans to the local community for environmentally sustainable purposes;
- gifting up to 10% of pre-tax profit in the form of community grants;
- applying ethical screens when investing liquid funds and
- fostering micro finance groups.
While a relatively small organisation, MCU actively partners with other organisations to drive a more proactive community approach to sustainability.
MCU was awarded the “Air Quality Award” by the Sunshine Coast Environmental Council (SCEC) in 2003 and was a finalist in the 2004 Banksia Awards for “Leadership in Socially Responsible Investment”.
Our Ethics
Since 1984, Maleny Credit Union has fostered sustainable development in the Maleny district. From humble beginnings in a rented room, the credit union has grown steadily. MCU now has 4500 members and over $41 million in assets.
Investors choose MCU because we invest only in projects that fit our ethics.
We do not discriminate between investors. All investors receive the same rate of return. We encourage small investors with our low $2000 minimum fixed term deposit and high interest on our Serious Saver and E Saver Accounts from as little as $1.
We have low fees and no minimum balance requirements on regular savings accounts.
We are a secure institution regulated by the Australian Prudential Regulation Authority.Borrowers choose MCU because we believe in giving everyone a fair go and will lend to people on low incomes who might be rejected by other financial institutions.
While this may seem risky, our prudent lending policies and close relationship with members have ensured our loans in arrears are in line with the industry average.
We have special lending rates for projects that benefit the wider community.People choose MCU because we are an ethical financial institution and we put our ethics into practice.
We donate up to 10% of profits to the community.
We strive to operate in a socially and environmentally friendly way. We also pay an eco-tax to Barung Landcare on every ream of paper we use.
Our Vision
We aspire to lead by example to advance social change for community benefit.
The Maleny Credit Union creatively balances its business operations with the practices of ecological and economic sustainability.
Our reason for being is to offer appropriate and ethical financial solutions to our members in ways which are:
- socially just
- environmentally responsible
- empowering to the local community and individuals
- based on a belief in people, honesty and good will.
Our Operating Principles
Voluntary and open membership
Membership is open to all who agree with our operating principles and who accept the rights and responsibilities as outlined in our Membership Charter. We do not discriminate on the basis of age, race, nationality, gender or religion.
Democratic member participation
Each shareholding member has one vote at a credit union General Meeting, regardless of the amount of savings or deposits or the volume of business.
Freedom of information
The credit union has open communications within the organisation and with members while maintaining the privacy of individual members' details.
Community
The credit union's activities are directed to improving the economic and social wellbeing of the local community and its cultural heritage.
Cooperation
The credit union cooperates with organisations at local, national and international levels in order to achieve our vision.
Autonomy and independence
The credit union provides service to members as a cooperative enterprise. It is autonomous within the framework of the law and industry supervision. Our prime concern is to build financial strength, including adequate reserves and internal controls that will ensure continuous service to members and the community.
Member economic participation
Any surplus arising out of the operations of the credit union, after allowing appropriate reserve levels, is directed to improving or adding services to members, the credit union or the community.
Education
The credit union actively promotes education in economic, social, democratic and mutual self-help principles and ecological sustainability.
Ecological sustainability
The credit union's operations and policies support the conservation of the natural environment, endangered ecosystems and the use of appropriate technology and resources. In so doing, we minimise waste, pollution and inappropriate land use.
Our Ethical Features
From its inception, Maleny Credit Union has always worked for social justice, environmental responsibility and local community and individual empowerment.
A sustainable level of profit is set by the Board of Directors each year. We then look to reinvest to improve member services and any retained earnings are owned by the members.
Our vision is translated into reality by our ethical features:
We do not seek maximum return at any cost.
Our major investment is in loans to our members. Surplus funds are invested where we are confident that its use is in keeping with our ethics.
We do not discriminate between investors
All investors receive the same rate of return on funds regardless of the amount invested.
We encourage small investors with a minimum of $2000 for fixed term deposits and high interest rate on our Serious Saver and E Saver Accounts.
Our interest rates are competitive with other financial institutions.
We do not discriminate between borrowers
We believe in giving all members a fair go. Our lending policies are prudent but not as discriminatory as other financial institutions.
The majority of lending funds remain in the district, where they help local people and local enterprise.
The credit union supports only projects that comply with its ethics.
We are committed to maintaining low fees and charges for our members
Please refer to our Schedule of Fees and Charges for more information.
We assist worthwhile causes
Every year up to 10% of profits are donated to the community to assist in projects that meet our ethical and environmental guidelines.
MCU helps the formation of credit unions in developing countries. We work with community organisations to stimulate employment opportunities providing micro-credit for business enterprises to assist people with self-employment.
We are a secure financial institution
MCU is a company supervised by the Australian Prudential Regulation Authority.
We comply with the Consumer Credit Code and the Code of Practice
These codes set operating standards for credit unions that protect the interests of members.
Our autonomy means that we are more responsive to members' needs than banks.
We own our own building
We own our own building and have built up a healthy reputation as a viable and ethical financial institution over our 23 years of operation.
Our Service
Do you want:
- friendly and efficient service
- high interest on term deposits
- competitive loan rates
- cheque and savings accounts
- ethical superannuation
- insurance
- internet banking
- BPAY
- VISA debit card
- socially and environmentally responsible financial services?
OF COURSE YOU DO!
Maleny Credit Union provides ethical and appropriate financial services for members.Join Maleny Credit Union. You'll get friendly, personal service and earn great interest with an ethical financial institution that supports the community and the environment.
Friendly and efficient service
Maleny Credit Union is renowned for the personal service members receive. As a community-based financial institution, service to members is our highest priority. Unlike banks, which exist to maximise profit for shareholders, our purpose is to provide ethical and appropriate financial services for members. In a recent social and environmental audit of our operations, members surveyed said MCU's most important feature for them was friendly service. 92% of members surveyed in 2005 rated MCU's overall service as "Excellent" or "Very Good".Loans
MCU believes shelter and a living income are fundamental human rights. That's why we do everything we can to help members fulfil their dreams through home loans, business loans and personal loans. Unlike the big banks, which apply rigid criteria to their loans and exclude many people who don't fit the mould, our credit decisions look at each member's individual circumstances when it assesses loan applications. We try to help people on low incomes, people who want to start innovative businesses and people living alternative lifestyles. MCU believes it is important to keep money circulating within our bio-region. By investing locally, we build wealth in the local community. That's why MCU only offers loans to members or for projects within the Maleny district.Term deposits
MCU offers competitive interest rates on term deposits and pensioner deeming accounts. MCU does not discriminate among investors. With MCU term investments you receive the same high interest rate regardless of the amount invested.Savings and access products
MCU offers a range of savings accounts to suit your needs, including savings, VISA debit card, cheque and Serious Saver and E Saver accounts. You can have your pay deposited into your MCU account or transfer funds between your MCU account and other financial institutions through electronic direct debits and credits. At MCU we try to minimise your fees. To view our fees please refer to our fees and charges schedule.Insurance
MCU can arrange household, car, sickness, accident and other insurance for members.Please note that terms and conditions apply to all credit union products and services. Please read the relevant Terms and Conditions, Product Disclosure Statement and Financial Services Guide (FSG) before making a decision regarding acquiring a Maleny Credit Union product or service.
Email us on info@malenycu.com.au, phone 07 5499 8988, fax 07 5494 3363 or write to PO Box 1099, Maleny 4552 for more information and current interest rates.
Maleny Credit Union has many members living outside the local area who support our ethics. Members can access their savings at a distance through the VISA debit card, cheque or by transfering funds to and from other financial institutions electronically (the direct credit and debit system).
How do I become a member?
Email us on info@malenycu.com.au, phone 07 5499 8988, fax 07 5494 3363 or write to PO Box 1099, Maleny 4552 for an information pack.We have investors from all over Australia who enjoy safe and ethical investment and an excellent rate of interest with Maleny Credit Union.
Fees & Charges
As at 10th November 2008
Fees and Charges (33K PDF)
How To Avoid Paying Transaction Fees With Maleny Credit Union
- Internet Banking: Access details of balances & transactions; transfer funds between your own accounts; transfer funds to another MCU account; transfer funds externally. Pay your bills using Bpay. These are free transactions regardless of how often you use them.
- Visa: Use your own funds or your pre-approved MCU overdraft with your Visa Debit Card wherever the Visa symbol is displayed. Specify that you wish to pay by Visa by selecting the "Credit" button and "Pen or PIN" for your purchase. These are free transaction regardless of how often you use them.
- When using EFTPOS press "CR" and "Pen or PIN" for your transaction. These are free transactions regardless of how often you use them.
- If using EFTPOS to pay for goods, withdraw cash in the one transaction – this counts as only one chargeable transaction.
- Pay your regular payments by Direct Debit. This is a free transaction regardless of how often you use it.
- Plan your cash withdrawals wisely. Withdraw larger amounts less frequently from ATMs or over the counter at MCU.
- To avoid overdrawn/overlimit fees, always ensure you have sufficient cleared funds in your account to cover all withdrawals.
Forms
MCU Forms
- Authority for IB Payments and Transfers
- CUFA Donation Direct Debit Request (DDR)
- E Saver Opening Deposit Direct Debit Request (DDR)
- E Saver Savings Plan Direct Debit Request (DDR)
- E Saver Savings Plan Periodic Payment Authority (PP)
- Internet Banking Daily Limit Change Form
- Internet Banking Registration Form
- Loan / Overdraft Application Form
- Member Complaint Form
- Periodic Payment Authority Form
- Phone Banking Password Authority Form
- Share Transfer Form
- Spare Change Program Form
- Subsequent Account Open Form
- Visa Debit Card Application Form
- Visa Debit Card Replacement Form
MCU General Information
- Financial Services Guide
- Membership - Terms & Conditions
- Online PDS and Terms & Conditions
- PDS Professional Investor Account
- Fees and Charges Schedule
- Comparative Loan Rates Schedule
- Internet Banking User Guide
- MCU Privacy Policy
Publications
The Maleny Credit Union publishes newsletters, reports and other documents on a regular basis.
This page has menu and page links to the various publications.
Most are in PDF format so they can be viewed and/or downloaded for printing or later reference.
Newsletters
October 2008 Balance (432Kb PDF)
July 2008 Balance (612Kb PDF)
April 2008 Balance (944Kb PDF)
January 2008 Balance (536Kb PDF)
October 2007 Balance (595Kb PDF)
July 2007 Balance (410Kb PDF)
April 2007 Balance (398Kb PDF)
January 2007 Balance (692Kb PDF)
Reports
Annual Report 2008 (608Kb PDF)
Note: This Annual Report primarily relates to our financial performance for the 2007-2008 financial year.Half Year Financial Report Ending 31st December 2007 (113Kb PDF)
Annual Report 2007 (842Kb PDF)
Note: This Annual Report primarily relates to our financial performance for the 2006-2007 financial year.Half Year Financial Report Ending 31st December 2006 (280Kb PDF)
Sustainability Report 2005 - 2006 (1.6Mb PDF)
Annual Report 2006 (572Kb PDF)
Note: This Annual Report primarily relates to our financial performance for the 2005-2006 financial year.Annual Report 2005 (496Kb PDF)
Note: This Annual Report primarily relates to our financial performance for the 2004-2005 financial year.Sustainability and Financial Annual Report 2004 (452Kb PDF)
Sustainability and Financial Annual Report 2004 (Printable Images - 2.95Mb PDF)
Full Financial Statements 2004 (103Kb PDF)
Sustainability and Financial Annual Report 2003 (871Kb PDF)
Sustainability and Financial Annual Report 2003 (Printable Images - 2.95Mb PDF)
Full Financial Statements 2003 (193Kb PDF)
Full Social, Environmental and Financial Annual Report 2002 (437Kb PDF)
Social and Environmental Audit Report 2001 (201Kb PDF)
Social, Environmental and Financial Annual Report 2001 (907Kb PDF)
Full Financial Statements 2001 (67Kb PDF)
Social, Environmental and Financial Annual Report 2000 (894Kb PDF)
Privacy
OUR COMMITMENT
In handling your personal information, Maleny Credit Union (MCU) is committed to complying with the Privacy Act 1988, the National Privacy Principles and the Credit Union Code of Practice.
A copy of our Privacy Policy is available here (63K PDF) or on request.
COLLECTION & USE OF PERSONAL INFORMATION
We collect personal information about you, and will hold that information, for these purposes:
- providing you with membership benefits or information about those benefits and our financial services and products
- providing you with our financial services and products
- providing you with information about financial services and products from 3rd parties we have arrangements with
- conducting market or customer satisfaction research
- complying with legislative and regulatory requirements.
When you apply for a loan, we also collect information about you, in the form of a credit report, from Veda Advantage, a credit reporting agency, to assess your capacity to repay. However, we can only do this with your consent at the time.
You can obtain a copy of your own credit report from Veda Advantage at any time:
- by post – Veda Advantage PO Box 964 North Sydney 2059
- by internet – www.mycreditfile.com.au.
Fees will apply. To find out about fees or payment options visit the website or phone Veda Advantage on 1300 762 207.
The law also requires us to collect and hold personal information about you for these purposes:
- as a member of the Credit Union - for our register of members
- when you open an account with us - to verify your identity and address
- when we give you a loan – for our assessment of your capacity to pay or, if you are giving us a guarantee, for that purpose.
PROVIDING YOUR PERSONAL INFORMATION TO OTHER ORGANISATIONS
In providing our financial services and products to you, it may be necessary for us to disclose your personal information to other organisations. We only disclose your personal information to the extent necessary and to the extent required by law. The types of organisations that we can disclose your personal information to are:
- when applying for membership or loans – organisations that provide information to verify your identity
- when applying for loans:
- credit reporting agencies and other financial institutions that have previously lent you money – but only with your consent at the time
- brokers and agents who have referred your business to us
- persons you name as referees, or your employer, in loan applications
- your solicitors or conveyancing agents
- property valuers and insurers - for property loans
- lenders mortgage insurers
- mortgage documentation service
- companies involved in providing securitised mortgages, such as the trustee or manager of the securitisation program
- your guarantor
- when enforcing a loan:
- debt collection agencies
- solicitors
- process servers
- Courts of law with jurisdiction over the enforcement of debts and securities
- when you make a complaint to us about our services or products – our external dispute resolution centre
- when we engage contractors for statement printing and mail out, card and cheque production, market research or direct marketing – these contractors are all subject to confidentiality agreements with us and cannot use your personal information except for our purposes
- when we have an arrangement with a 3rd party product supplier – those 3rd parties to provide information to you about their services and products
YOUR RIGHTS
You may access your personal information at any time by asking us. We may charge you a fee for this. We will tell you what the fee is at the time. If you ask us to correct any personal information we hold, we will do so, and without cost to you.
WHAT IF YOU DO NOT WISH TO PROVIDE US WITH INFORMATION?
If you do not give us the personal information we require, we may not be able to admit you to membership or provide you with the financial service or product you have applied for.
HOW TO CONTACT US
You can contact us by:
- Phone – 07 5494 2144
- Fax - 07 5494 3363
- E-mail – info@malenycu.com.au
AGM Infomation
Disclosures
Miscellaneous
The Maleny Credit Union Song - 668Kb Low Quality mp3
Composed and sung by Tommy LeonardOffer Information Statement (OIS)
Pen or PIN (Jun 08)
You may have noticed changes when using your MCU Visa Debit card in participating shops since early June.
You are now given the choice of verifying your purchases by entering your Personal Identification Number (PIN) when you press the “credit” button or you can continue to sign as you have always done.
Previously, when you used your MCU Visa Debit card to pay for something at a shop, you pressed “credit” and signed to accept the transaction.
Participating shops are now able to accept a PIN instead, giving you a choice. Of course, you can continue to sign as you have always done. The introduction of this choice will in most cases result in a faster transaction process rather than waiting for your signature to be verified.
Because you are still pressing "credit" and using your PIN to verify your transaction, this transaction is included in your “free transactions” with MCU. These "credit" transactions are still free regardless of how often you use them.
If you have any questions about these changes, please contact one of our Member Service Staff on 07 5494 2144.
Ethical Investment Seminars (Feb 08)
AUSTRALIAN ETHICAL INVESTMENTS AND SUPERANNUATION PRESENT ETHICAL INVESTMENT SEMINARS
Find out more about the world of ethical investment at seminars to be held in Maleny and Maroochydore.
James Their, Executive Director of Australian Ethical Investments will cover the following topics:
- What is ethical/socially responsible investing?
- How it links to issues such as climate change, water shortages and corporate responsibility
- How ethical screening can reduce investment risk and identify potential growth sector
- An overview of Australian Ethical’s managed funds and superannuation
6:30-8pm, Tuesday 4th March 2008, Ripples Room, Maroochy RSL Club Memorial Avenue, Maroochydore 6:30-8pm, Wednesday 5th March 2008, Maleny Community Hall 23 Maple Street, Maleny Australian Ethical one of Australia’s most active and successful ethical fund managers. Rather than just boycott environmentally and socially damaging companies, Australian Ethical is unique in that it actively seeks investment in companies doing innovative things in areas such as renewable energy, recycling, organic agriculture, efficient transport, healthcare and education.
Annette Boseley of the Maleny Credit Union will also speak at the seminars. With over 4500 owner members, the Maleny Credit creatively balances its business operations with the practices of ecological and economic sustainability.
The Seminars of free of charge, although books are necessary. Please RSVP to Adam by email to "adam AT austethical.com.au" or by phoning 02 6201 1926. Alternatively, contact the Maleny Credit Union on 5494 2144.
MCU VISA Card (May 07)
The Maleny Credit Union is delighted to announce the launch of the MCU Visa Debit Card.
General Manager, Annette Boseley says the introduction of the MCU Visa Debit Card is a huge benefit and improved service to members. Members no longer have to come into Bunya House each time they want to access their own funds. Many of our members prefer the face to face contact with our wonderful member service staff and, of course, members are still very welcome at Bunya House to do their transactions. We are now able to offer a convenient alternative for members.
The MCU Visa Debit Card offers all the security and convenience of a credit card, without the debt and annual fees. It lets you use your own money to shop securely online, withdraw cash, pay the bills and make purchases anytime and anywhere Visa is accepted.
Annette went on to say "The MCU Visa Debit Card has many benefits, including:
- 24 hour worldwide access to your savings, and the ability to withdraw up to $1,000 a day from any ATM in Australia
- Secure internet, mail and telephone shopping using your own money
- Unlimited free EFTPOS transactions (when you press "CR" and sign for your purchases)
- Guaranteed security, as every transaction you make is monitored for any unusual charges."
Vanessa Gaudard, Member Service Team Leader says "We look forward to making life easier for our members". Vanessa went on to say that she would envisage the introduction of the card and easy access to their own funds would encourage many people within the region who do not currently bank with MCU to switch their banking to their local community credit union.
Annette said 2007 is proving to be an exciting year for the credit union. "We started the year with recognition in product excellence from Money Magazines Best of the Best winning the inaugural Best Socially Responsible Product for our Enviro Home Loan. We also launched our new range of Green Star Car Loans which are proving to be very popular."
To find out more on how to apply for your Visa Debit Card or how to become a member of the Maleny Credit Union, contact one of our friendly member service staff on 5494 2144, drop into Bunya House, 28 Maple Street, Maleny or return the form(s) below.
Visa Debit Card Application Form
The card must be attached to a normal Savings (S Type) Account. To open a new "S Type" subsequent account, please also return this form - Subsequent Account Open Form
If you are a member with only an ESaver Account linked to a non MCU bank account, to open a new subsequent "S Type" account you are also required to fulfill the 100 Point ID for full verification. This can be achieved using the form - AUSTRAC S.21 Acceptable Referee 100Pts ID Form
MCU Wins Gold Again (Dec 06)
Once again Maleny Credit Union finished the year with more prestigious awards. MCU was awarded Gold and Silver in Money magazine’s 2007 Best of the Best Awards.
Money magazine’s Best of the Best Awards are in its sixth year of running and each year identifies the best and most innovative products available from Australian financial institutions
Recognising the importance of helping the disadvantaged and sustaining the environment, Money this year launched awards for socially responsible products. MCU was awarded Gold for the inaugural Best Socially Responsible Product Award for its Enviro Home Loan Product
Attending the Money Annual Luncheon to accept the award, General Manager Annette Boseley said "we are absolutely delighted with this award, particularly as it is a brand new category in the Best of the Best. With the environment and effects of global warming firmly on the agenda, the panel of judges were impressed that our product rewards borrowers who build a new home to very high "green" standards".
Confirming the local community receives excellent value from its credit union, Money also awarded MCU:
- Silver – Cheapest Car Loan
- Silver – Best Term Deposit – Long Term
This is the second year running MCU has been recognised nationally for award winning products by Money. Ms Boseley went on to say "we are focused on the balance between value for money to members and best practice sustainable products for the environment."
Dam Buster Loan (Apr 06)
Maleny Credit Union (MCU) has launched a new loan aimed squarely at promoting greater water self-sufficiency in South East Queensland. The MCU "Dam Busting Loan" is available for the purchase and installation of water tanks at an interest rate of just 7.95%* p.a. with no upfront or ongoing fees.
This announcement coincides with the introduction of Level 3 Water Restrictions in South East Queensland where dam water levels have dropped to approximately 30% of capacity.
MCU Board Facilitator, James Davidson, said "MCU is pleased to offer discounted personal loans to encourage greater water self-sufficiency. There is nothing more essential to life than water yet we find ourselves in a situation of shortage. If every household took the initiative to capture water from their own rooftops we would dramatically reduce the demand for public water infrastructure. Proposed dams like Traveston Crossing, with their great financial, social and environmental costs, would not be required."
MCU General Manager, John Ford, said the "the MCU Dam Busting Loan helps to make home owners more autonomous with regards to water. A decent size water tank connected for household use, in combination with AAA showerheads, 4 Star washing machines and dual flush toilets, would dramatically reduce dependence on council supplied water. With water rates increasing borrowers can also expect financial savings from installing a water tank. Moreover, the State Government, along with some progressive councils, are offering attractive rebates to residents who install water tanks. So there has never been a better time to install a water tank especially with the assistance of our low cost Dam Busting Loan."
More information on MCU’s "Dam Busting Loan" can be found here or by calling MCU on 5494 2144.
*Comparison Rate: 7.95% for $4,000 for 2 years. A Comparison Rate Schedule is available at Bunya House or here (87K PDF)
Dividend Media Release 1 (Jun 06)
Maleny Credit Union (MCU) has announced an interim dividend rate of 7.57% (fully franked) to its Member Investment Shareholders. The dividends was paid on June 20 and will be fully franked.
In December 2005 MCU offered 1 Million Member Investor Shares and closed its share offer over subscribed. The capital raised has been used to support the ongoing growth of the Credit Union and to boost its prudential reserves.
MCU Board Facilitator, James Davidson, said "the Board was pleased to announce the dividend payment as the first return to our Member Investment Shareholders. The dividend rate of 7.57% (fully franked) is the maximum dividend payable under the Offer Information Statement and shows the Board’s intention to repay the good faith shown by our investing members. The Credit Union’s sound financial position means we are able to afford to pay this dividend and improve member services at the same time. For example, the Credit Union has recently signed contracts for the development of a Visa debit card system for release later this year."
MCU General Manager, John Ford, said the "MCU Member Investment Shares are an innovative capital instrument and were a first for credit unions in Queensland. They provide members the opportunity to receive attractive yields and franked dividends on a twice-yearly basis without compromising the mutual status of the Credit Union. The Credit Union benefits from increased capital, which in turn gives us the ability to extend more loans to members. In essence, the share offering was designed to strengthen the autonomy of the Credit Union and support its future growth."
The next MCU dividend payment is scheduled for 20 December 2006.
2005-6 Community Grants (Jun 06)
The Maleny Credit Union (MCU) Board of Directors have allocated a record $25,400 in Community Grants for the 2006 – 2007 financial year. The Credit Union has a policy of allocating up to 10% of its profit in the form of Community Grants.
MCU Board Facilitator, James Davidson, said "due to our strong financial position the MCU Board has decided to allocate a record $25,400 to the MCU Community Trust for the purpose of community grants. This charitable allocation is an important initiative that ensures the benefits of our growing Credit Union are shared back with the membership and community at large. Judging from previous years, we expect a range of community "not for profit" initiatives to receive funding from the MCU Charitable Trust."
MCU General Manager, John Ford, said "that while the 2005 – 2006 accounts are yet to be finalised the indications are that we have achieved total asset growth of 30%. This is approximately twice the industry growth rate and is attributable to the strong member support for the Credit Union. The introduction of new products and services and adherence to our guiding principles has seen us satisfy more of our members’ financial needs locally. The end result is more of the community’s money is being recycled locally in the form of savings, loans and investments and that capital is not leaking from our region. Our hope is that more people in the community will take notice of our continued success and embrace the concept of a community owned financial institution by becoming MCU members."
The Credit Unions’ financial results, which are subject to external audit, will be available to members in September as part of MCU’s annual report.
MCU Wins Gold (Dec 05)
The Maleny Credit Union (MCU), has finished the year on a high winning Gold, Silver and Bronze in Money Magazines’ Best of the Best Awards.
The prestigious Best of the Best awards are run each year by Money Magazine to identify the best and most innovative products offered by Australian financial institutions. Based on information gathered by independent research houses, and a panel of finance experts, Money Magazine awarded MCU the following:
- Gold for Cheapest Car Loan - Extreme Green Car Loan
- Gold for Best Savings Account - E-Saver Account
- Silver for Best Term Deposit – Short Term, 90 day term deposit
- Bronze for Best Term Deposit – Long Term, 1 year term deposit.
MCU General Manager, John Ford, said the "Credit Union was extremely pleased to receive this national recognition for product excellence. It’s been our aim over the last several years to improve the value for money offered to our members. These awards confirm that locals don’t need to look outside their own community for the very best in financial services."
Mr Ford went on to say "we’ve won prizes in the past for our commitment to environmental sustainability. We’ve been dismissed in the past as a bunch of greenies not focussed on the real game – what ever that is. These awards help to prove that our commitment to the environment and community doesn’t compromise our ability to offer great value for money products. This, on top of our recent successful capital raising, provide a great finish to our year."
OIS Media Release 2 (Dec 05)
The Maleny Credit Union (MCU) has closed its share offer fully subscribed. More than 120 credit union members took advantage of the exclusive offer to take up the one million shares on offer.
MCU Board Facilitator, Peter Pamment, said "we are extremely pleased with the support shown for the Credit Union. We’ve been in existence now for over 21 years and its clear that our members want to see us continue well into the future."
Mr Pamment said "the Credit Union was approached by a number of non members and brokers wanting to invest when the capital raising was first announced. However, we wanted this offer to be exclusive to our committed members. It’s very satisfying then to see the share offer succeed purely on the support of members. We thank them for their support and look forward to repaying their loyalty with attractive franked dividends".
MCU General Manager, John Ford, claims the "MCU Member Investment Shares are an innovative capital instrument and are a first for credit unions in Queensland. They provide members the opportunity to receive attractive yields and franked dividends on a twice-yearly basis without compromising the mutual status of the Credit Union. The Credit Union benefits from increased capital, which in turn gives us the ability to extend more loans to members. In essence, the share offering is designed to strengthen the autonomy of the Credit Union and support its future growth."
The Credit Union remains committed to allocating Member Investment Shares to subscribers in early January, as per the Offer Information Statement.
OIS Media Release 1 (Oct 05)
Members of the locally owned Maleny Credit Union (MCU) voted unanimously at the AGM on Saturday 29th October to change its Constitution and offer up to 1.1 million Member Investment Shares.
According to MCU Board Facilitator, Peter Pamment, "the issuing of Member Investment Shares is designed to build the Credit Unions’ reserves, support business growth and provide members with an increased opportunity for economic participation. For sometime now the Credit Union has been experiencing very strong growth in demand from members for savings and loans. To support this ongoing growth it has been necessary for MCU to boost its reserves by raising share capital from its members. The Member Investment Shares will attract fully franked dividends enabling members to take advantage of the franking credits built up by MCU over the years."
Mr Pamment said, "the MCU Board is pleased that the members supported the change to the Constitution which included improved protection against demutualisation. The Credit Union continues to be owned by its members and each member continues to have only one vote. At the same time, we now have the ability to raise capital to underpin our future growth by boosting prudential reserves and improving member services. This is an important step in strengthening the autonomy of the Credit Union."
Mr Pamment said "MCU members interested in Member Investment Shares should obtain a copy of the Offer Information Statement from either 28 Maple Street, Maleny, or here. Applications for Member Investment Shares close on Monday 5th December."
Cool Home Loan (Dec 02)
Media Release - 20th December 2002
MCU launches "Cool Home Loan" to encourage energy efficient housing.
Hot on the heels of its Green Car Loan, the Maleny Credit Union (MCU) has recently launched a home loan that directly encourages energy efficient housing. The loan offers a competitive interest rate and no ongoing fees for homes that meet five or more energy saving criteria. The "Cool Home Loan" has been developed in conjunction with the Queensland Conservation Council as part of the Cool Communities initiative.
John Ford, Manager of Maleny Credit Union, expects the Cool Home Loan to prove popular. "Not only will it help the environment but it will also reward borrowers with a competitive home loan and ongoing energy bill savings. It's a good example of how our core business of credit provision is being directly linked to our environmental and social objectives".
Kirsten Macy, Cool Communities Facilitator with the Queensland Conservation Council, said "Australian households generate one-fifth of Australia's total greenhouse gases. Householders can make a huge reduction in greenhouse gases by reducing energy usage in their own homes and making some simple changes in their daily lives. An average family can easily save three or more tonnes of greenhouse gases and hundreds of dollars a year in reduced energy bills".
To qualify for a Cool Home Loan, in addition to satisfying normal credit guidelines, borrowers need to meet criteria comprising features that go to make a home energy efficient. First they must meet the mandatory criteria of "Anything but electric hot water" - e.g. Solar or Instant Gas. Then they must meet 4 of the remaining 9 energy saving criteria:
- Water efficient fittings (dual flush toilets, AAA rated shower roses)
- Eaves not < 600mm on eastern and western walls
- Roof insulated (Minimum Australian Standards)
- Walls insulated (Minimum Australian Standards)
- Ceiling insulated (Minimum Australian Standards)
- Connected to Earths Choice Electricity
- Windows tinted on eastern and western walls
- External awnings or shadings over windows on eastern and western walls
- Solar PV panels
Mr Ford explained "The aim of the Cool Home Loan is to influence people when designing or buying a home to consider ways in which they can make it more energy efficient. The loan offers good value for money, no ongoing fees and a free redraw facility to provide ongoing flexibility.
To mark the launch we have also arranged with Barung Landcare to provide the first 10 Cool Home Loan borrowers with complimentary trees to the value of $100". Elaine Green, President of Barung Landcare, said "Plants can make a big difference to the natural temperature control in a home. The staff at Barung are happy to provide free advice on the suitability of plant species to Cool Home Loan borrowers".
Mr Ford said "The Cool Home Loan is being offered at a significant discount to our normal home loan rate and this has been partly made possible due to the support received from the Cool Communities initiative, the Queensland Conservation Council and the Australian Greenhouse Office. We are grateful for their input and support and hope to encourage home borrowers to a better environmental outcome".
The first ten (10) Cool Home Loan borrowers will also receive a free energy saver pack donated by the Cool Communities initiative. In the interests of financial inclusion there is no minimum Cool Home Loan lending amount.
MCU is currently taking applications for the Cool Home Loan and can be reached on 5494 2144 during business hours.
About Cool Communities: Cool Communities is a world first and aims to save tonnes of greenhouse gases per household every year. Maleny Credit Union is one of two Cool Communities projects currently underway in Queensland as part of a nationwide project involving 22 communities across all States and Territories. The Cool Communities project estimates a saving of 16,000 tonnes of greenhouse gases in its first year.
For further information, please call the Credit Union on 5494 2144.
Community
The Maleny Credit Union prides itself on being a caring, community-orientated organisation. We put our values and ethics into practice in many ways:
- Invest in selected community groups via the grants scheme.
- Make the majority of loans to members in the Maleny district.
- Purchasing goods and services locally where feasible.
- Provide sponsorship support for worthy not-for-profit groups.
- Offer support for local craftspersons.
- Join relevant community organisations and industry associations.
- Support for co-operative associations.
The left menu details our grants scheme and some of the grants made in recent years. The Maleny Credit Union Governance Policy details the target outcomes and indicators that we strive to achieve each year.
Grants Scheme
Media Release - 14th April 2005
MCU launches 2005 Community Grants Scheme.
The Maleny Credit Union prides itself on being a caring, community-orientated organisation. They put their values and ethics into practice in many ways, one of which is the Community Grants Scheme. The Credit Union has been allocating up to 10% of its before-tax profit each year to the grants scheme which has been operating in its current form since 1999 and has already contributed $90,000 directly back into the community.
We encourage applications from a wide variety of established groups, from sporting to gardening and environmental to community care groups. If you know of any organisations that may benefit from a Maleny Credit Union Charitable Trust Grant, please pass on our contact details.
For more information on eligibility and to obtain application forms you can write to us at 28 Maple Street, Maleny, Q 4552 call us on (07) 5494 2144, or drop into Bunya House or download the information brochure and form below.
Applications closed on the 30th of June, 2005 and after consideration, the Grants Committee made a recommendation to the credit union's membership at the Annual General Meeting in October. Provided the grants recommendation is accepted, the funds are then dispersed to the successful applicants.
Please check back here before June 2007 for the new 2007 round of Community Grants.
Information Brochure
PDF Format Information Brochure
Application Form
MS Word Format Form
or
PDF Format Form
For further information, please call the Credit Union on 5494 2144.
Grants Scheme
MCU CHARITABLE TRUST COMMUNITY GRANTS
The MCU Charitable Trust Management Committee will be accepting applications for the 2006 Community Grants from the 1st May 2006. Applicants must be established community organisations that are based or operate within the greater Maleny area.
Each year the Maleny Credit Union allocates up to 10% of before tax profit to the Maleny Credit Union Charitable Trust for the Community Grants Scheme. This is combined with private donations also earmarked for the program.
The MCU Charitable Trust is a tax deductible, tax exempt Trust established by the Maleny Credit Union to assist financing local non-profit community groups whose activities enhance the local environment, alleviate poverty and generally help improve the living conditions for those in the Maleny and district communities.
Your tax deductible donations for this program would be gratefully accepted at the Maleny Credit Union, or regular electronic payments can be arranged. MCU Charitable Trust can also be nominated to receive points via the Maleny IGA’s Community Benefits Fund.
Examples of projects who have received assistance from the MCU Charitable Trust Community Grants Scheme include:
Specialised swim equipment Tree planting equipment and materials Venue shade cover GIS & GPS equipment available for community access Food hampers Audio & visual equipment Handicap access facilities for an Observatory Community centre kitchen refit Funds to assist community members during times of exceptional circumstances. Grant application forms and the information brochure may be collected from the Maleny Credit Union at Bunya House, this page (below), or by writing to:
Maleny Credit Union
28 Maple Street
Maleny, QLD. 4552Application period closed 30th June 2006.
The next round of Community Grants will be in 2007 and new forms will be available from May 2007.
2006 Information Brochure
PDF Format Information Brochure
2006 Application Form
MS Word Format Form
or
PDF Format Form
For further information, please call the Credit Union on 5494 2144.
Grants Scheme
MCU CHARITABLE TRUST COMMUNITY GRANTS
The MCU Charitable Trust Management Committee will be accepting applications for the 2008 Community Grants from May 2008. Applicants must be established community organisations that are based or operate within the greater Maleny area.
Each year the Maleny Credit Union allocates up to 10% of before tax profit to the Maleny Credit Union Charitable Trust for the Community Grants Scheme. This is combined with other community benefit schemes and private donations also earmarked for the program.
The MCU Charitable Trust is a tax deductible, tax exempt Trust established by the Maleny Credit Union to assist financing local non-profit community groups whose activities enhance the local environment, alleviate poverty and generally help improve the living conditions for those in the Maleny and district communities.
Your tax deductible donations for this program would be gratefully accepted at the Maleny Credit Union. You can easily support the Trust in a number of ways:
- Sign up to the MCU Spare Change Program, which sweeps the cents in your savings accounts at each month end. MCU Internet banking users can sign up via the "Member Details" page,
- The Trust can also be nominated to receive points via the Maleny IGA’s Community Benefits Fund,
- The Trust can also be nominated to receive funds via the "Sunshine Coast Community Enterprise" Our Telco Scheme,
- Regular electronic payments from your savings accounts can also be arranged
Examples of projects who have received assistance from the MCU Charitable Trust Community Grants Scheme include:
Specialised swim equipment Tree planting equipment and materials Venue shade cover Event funding or ticket sponsorships GIS & GPS equipment available for community access Food hampers Computer and Audio & visual equipment Handicap access facilities Community facilities kitchen equipment and refit Funds to assist community members during times of exceptional circumstances. Emergency Services equipment. Grant application forms and the information brochure may be collected from the Maleny Credit Union at Bunya House, this page (below), or by writing to:
Maleny Credit Union
PO Box 1099
Maleny, QLD. 4552Application period closed 30th June 2008.
The next round of Community Grants will be in 2009 and new forms will be available from May 2009.
The 2008 forms are here for information only to assist applicants prepare for the next round in 2009
2008 Information Brochure
PDF Format Information Brochure
2008 Application Form
MS Word Format Form
or
PDF Format Form
For further information, please call the Credit Union on 5494 2144.
2007 Grants
Maleny Community Trust 2007 Grant Recipients
Total $20,490.00
Blackall Range Independent School
Organic garden refurbishment
$600.00Booroobin Bushcare
Landscape Repair – Purchase of portable sprayer
$670.00Care Network Sunshine Coast Inc
Communication system for operational counselling and training resources
$500.00Chenrezig Nun's Community (CNC)
Water Project – Gutter guarding nuns accommodation huts
$500.00Hinterland Business Centre
Soundproofing pipe work
$500.00Hinterland Photo Club
Purchase of digital display equipment
$400.00Kenilworth First Response Inc.
Support costs of volunteers when on duty - fuel
$1,000.00LEED
Business coaching skills education for Leed mentors
$1,000.00Maleny Bowls Club Inc
Purchase of junior lawn bowls x 3 sets
$800.00Maleny Community Centre Inc
Purchase of wireless microphones
$1,300.00Maleny Community Kindergarten Inc
Construction of non-slip path for safety reasons
$500.00Maleny Film Society
Purchase of DVD Collection to be given to Maleny Library for Residents
$750.00Maleny Flexi School
Building Bridges Program
$1,320.00Maleny History Preservation & Restoration Society
A travelling display board
$500.00Maleny Local Ambulance Committee
Anatomical torso and accessories
$2,000.00Maleny Social Badminton Club
Purchase of racquets and shuttles – regrip racquets
$200.00Maleny State High School P&C
Transport of students to Driver Education Program
$1,180.00Maleny SHS Microfinance Co-op Ltd
The Step Off Program – Administration expenses in setting up program
$476.00Maleny State Primary School P&C
Purchase of furniture for the schools Parent Room
$640.00Maleny Uniting Church Congregation
Provide safe in/outdoor area for mothers and kids/storage for various community groups
$1,000.00Quota International of Maleny Inc.
Replacement of aged and worn Quota tableclothes
$1,000.00Sustainable Maleny Project
Design and establishment of nursery garden
$980.00"Sweet Chilli" Women’s Choir
Production of CD of Sweet Chilli Music
$1,000.00T.S. Centaur Support Group Inc
Purchase of equipment for cadets involved in outdoor activities
$874.00Wildlife Volunteers Association Inc.
Purchase of materials for shelter boxes
$600.00Wildlife Volunteers Association Inc.
Transport for release of animals into the wild
$200.00
2006 Grants
Maleny Community Trust 2006 Grant Recipients
Total $26,570.00
5th Light Horse Regiment Maleny Troop
Round Yard for Training Purposes
$2,000.00Barung Landcare Assoc Inc
Upgrade Nursary Irrigation System
$1,250.00Blackall Range Care Group
Purchase of Wheelchair
$650.00Blackall Range Indepentent School
Ceiling for Arts and Studio Space
$1,460.00Conondale State School
ICT Network Server
$1,238.00Errowal Beech Lodge Improvement Fund
Airconditioning Unit for Beech or Maple Lodge
$2,500.00Hinterland Business Centre
Undercover Meeting and Networking Area
$2,020.00Interfaith Community Development Association
Venue Hire for National Interfaith Festival
$1,160.00Kenilworth First Response Inc.
Volunteer Transport Expenses
$1,000.00Maleny Arts Council Inc.
Sponsor 30 tickets for unwaged to attend the Autumn Music Festival
$600.00Maleny Community Centre
Purchase cutlery and crockery
$2,000.00Maleny Community Centre
Seed funding to develop writers component of the Maleny Cultural Festival
$400.00Maleny Information Centre
Assistance towards purchase of computer and software
$300.00Maleny Playgroup Association
Purchase playgroup equipment for children 0-5 years
$1,087.00Maleny Rangers Soccer Club
Kitchen facilities upgrade
$1,310.00Maleny Rural Fire Brigade
Welfare trailer refit
$1,084.00Maleny Social Badminton Club
Replace worn out racquets and shuttles
$368.00Maleny State High School
QCS Breakfast for year 12 students
$620.00Maleny Swimming Club Inc
New above ground learn-to-swim pool
$3,000.00Montville State School P&C
Purchase table tennis equipment
$645.00Stanmore & District Rural Fire Brigade
Install food preparation area for members
$1,000.00T.S. Centaur Support Group Inc
Purchase DVD/Video player & TV to play training material
$600.00
2005 Grants
Maleny Community Trust 2005 Grant Recipients
Total $23,000.00
Ananda Marga River School
Undercover space arts and crafts for Primary School (photo)
$2,209.09Barung Landcare Assoc Inc
Laptop & software to provide community access to Geographic Information System
$3,958.18Booroobin Bushcare
Costs associated with Stage 1 Tree Plant e.g. Fertilizer, Stakes (photo)
$425.00Chenrezig Nuns Community
Electric Pump for Rainwater Tanks
Water Filtration System for Tashi House
$1,570.00
$958.00Lake Baroon Catchment Care Group
Digital camera to document LBCCG funded projects
$817.27Maleny History Preservation & Restoration Society Inc.
Concrete slab for erection of a building to hold antique forestry & dairying machinery and other artefacts
$2,100.00Maleny Lets System
Replacement printer
$340.00Mapleton Public Hall & Sportsground Trustees
Maintenance to Hall Floors
Gate to Sportsground
$760.00
$1403.00MCU Community Assistance Fund
Funds to assist community members during times of exceptional circumstances
$4,019.56Mooloolah Valley Swimming Club Inc.
Specialised Swim Equipment (photo)
$606.20Quota International of Maleny Inc.
Quilt Stands (photo)
$500.00Stanmore Rural Fire Brigade
Concrete slab for erection of shed to house fire trucks
$3,333.70
2004 Grants
Maleny Community Trust 2004 Grant Recipients
Total
$20,000.00
Ananda Marga River School
Sporting Equipment (photo)
$700.00Beerwah & District Youth Access Centre
Toys and baby equipment for young mothers attending the Flexi School
$400.00Beerwah Sportsground Management Committee
Pressure cleaner unit
$470.00Chenrezig Nuns Community
Replacement of asbestos guttering on Gompa (Teaching Hall) roof for rainwater catchment
$4,000.00Conondale Rural Fire Brigade
Two powered hose reels
$2,500.00Maleny & District Rural Fire Brigade
Portable draft pump (photo)
$600.00Maleny & District Senior Citizens Club Inc. (Busy Needles Craft Group)
Materials for making garments, toys and gifts for those in need
$250.00Maleny Film Society
Replacement of current sound readers on two 35mm Projectors with red light analog readers for up to date films
$4,070.00Maleny National Fitness Club
Replacement Beam
$1,461.90Maleny State High School P&C
DBX DriveRack PA Control System
$1290.00Maleny Swimming Club
Protective permanent shade structure
$2,000.00Quota International of Maleny Inc.
Quilt Stands (photo)
$300.00Sunshine Coast Environmental Awards
Sunshine Coast Environment "Frog" Awards
$575.00Vision Quest Association
Coordinate 2005 Bunya Festival in Montville for local school children (photo)
$600.00
2003 Grants
Maleny Community Trust 2003 Grant Recipients
Total
$18,597.20
Ananda Marga River School
One new computer for the schools E-learning program
$1,100.00Kenilworth First Response Group, Ambulance Benefit Committee
Resuscitation manikans for training volunteers (photo)
$2,041.00Maleny & District Rural Fire Brigade
One electric powered hose reel
$1,500.00Maleny Co-operative Club Ltd (Upfront Club)
Commercial dishwashing equipment
$2,000.00Maleny Neighbourhood Centre
Falls prevention program in the elderly
$1,614.00Maleny State School P&C Assoc.
After school care equipment
$800.00Mapleton Public Hall
Upgrade access walkway
$2,550.00MCU Community Assistance Fund
Community Assistance Fund dollar for dollar top up of donations funding
$1,000.00MCU Community Grants Administration and Advertising for 2004
To promote the funding for the next round in 2004
$674.20Mooloolah Valley Swim Club
16 stop watches
$528.00Range Christian Outreach Centre
Sound equipment component of a youth outreach program
$2,900.00Santa's Helpers
Food hamper component of the project
$600.00Women Exposed
Seasonal Journal of Womens's Literature
$1,290.00
2002 Grants
Maleny Community Trust 2002 Grant Recipients
Total
$12,430.00
Altair Crisis Centre
Crisis Care
$1,216.00Barung Land Care
Blackall Range Landholders Guide
$2,000.00Bush Family Connections
Safety upgrade of premises (photo)
$1,612.00Erowal Aged Care Centre
Instrument making - diversional therapy
$1,230.00LEED
Resource manual / workbook
$1,612.00Maleny Community Centre
Kitchen Upgrade
$2,000.00Maleny Community Gardens
Garden expansion / Tools
$604.00Mapleton State School P&C Assoc.
Mapleton Observatory - wheelchair access
$1,464.00Santa's Helpers
Christmas Hampers
$692.00
Governance
GOVERNANCE POLICY
During the course of 2002-03 the MCU Board developed and accepted a governance policy based on the Carver Model.
The MCU Governance Policy is a comprehensive document covering Executive Limitations, Governance Process, Board - Manager Linkage and Ends Policies.
The governance policy directs the operations of the MCU and is reviewed regularly by the Board.
Policy Governance Document (70k PDF)
CONSTITUTION
At both the 2005 and 2006 Annual General Meetings the members adopted an updated Constitution. This new Constitution has been developed in consultation with our members and government regulators and is regarded as important to the future of the Credit Union. Significant changes to the Constitution in 2005 included:
- The introduction of a demutualisation defence clause;
- A clarification of meeting rules;
- Simplification of membership classes;
- Changes to the minimum and maximum number of Directors;
- Member Investment Shares - new Appendix A; and
- Changes to numbering and layout for consistency and ease of reading.
The 2006 changes were to:
- prohibit a person from being or remaining a Director if they are disqualified by law from being a director;
- put in place the process to assess persons for appropriate fitness and propriety before they can be elected as Directors;
- change the closing date for nominations to allow more time for checks to be carried out.
MCU Constitution (120Kb PDF)
DIRECTOR NOMINATION INFORMATION
The Candidate Information Pack (204K Zip) contains information and the nomination criteria for becoming a Director of Maleny & District Community Credit Union Limited. Note: Nominations close Saturday 27th September for 2008
AGM Notice
NOTICE OF MEETING The 2008 Annual General Meeting will be held at the Old Witta School, Cooke Road, Witta on Saturday 22nd November 2008 commencing at 11am
Following the meeting a BBQ lunch and refreshments provide an excellent opportunity to catch up with Directors, staff and your fellow members.
We look forward to seeing you there.To register your attendance for catering purposes, please telephone Nicole Hilton on 5499 8903
AGM 2008 - Notice of Meeting and Agenda (25K PDF)
AGM 2008 Proxy Form (38K PDF)
Note: Proxy forms must be received at the MCU by 11am on Thursday 20th November 2008AGM 2007 Minutes (23nd AGM - 27th October 2007) (79K PDF)
Annual Report 2008 (608K PDF)
Note: This Annual Report primarily relates to our financial performance for the 2007-2008 financial year.
Nicole Hilton
Board Secretary
Contact Us
'Bunya House', 28 Maple Street, Maleny, Q. 4552.
info@malenycu.com.au
Postal: PO Box 1099, Maleny, Q. 4552. Ph: (07) 5499 8988 Fax: (07) 5494 3363 ABN: 52 087 650 995 AFSL: 246921
BSB: 704-606
Maleny Branch Opening Hours:
- Monday to Thursday: 9.30am to 4.30pm
- Friday: 9.30am to 5.00pm
- Saturday: 9.00am to 11.30am
- Closed Sundays and Public Holidays
For Lost or Stolen VISA Debit Cards
Business Hours: Immediately contact the MCU
After Hours: Please phone 1800 621 199 or (02) 9959 7686
Overseas: Phone +61 2 9959 7686 or contact any financial institution displaying the VISA logo immediately.
Employment
Sorry - We have no positions vacant at present.
Member Investment Shares
The Credit Union released an Offer Information Statement to its members on 31st October 2005, detailing a new type of share called a Member Investment Share.
Member Investment Shares are an innovative capital instrument designed to:
- provide members with an attractive investment option in the Credit Union;
- allow the Credit Union to distribute franking credits to members;
- maintain the Credit Union's mutual structure; and
- qualify for regulatory capital adequacy purposes as Tier 1 capital.
The rights attaching to Member Investment Securities are set out in full in the Credit Union's Constitution.
Member Investment Shares are irredeemable non-cumulative preference shares that provide members the opportunity to receive an income stream via attractive yields and franked dividends on a twice-yearly basis without compromising the mutual status of the Credit Union. The Credit Union benefits from increased capital, which in turn gives us the ability to extend more loans to members. In essence, the share offering is designed to strengthen the autonomy of the Credit Union and support its future growth.
Member Investment Shares provide a unique investment opportunity for people who have been members of MCU for at least three months (a qualifying member). Member Investment Shares can be privately traded with another party or parties who are also qualifying members of the Credit Union.
The Credit Union has a matching facility to assist trading, which allows members to lodge an interest to buy or sell or peruse contact details for interested buyer/sellers already listed. Selling prices will not be quoted on the listings.
As at 2nd January 2006, there were 1,090,700 Member Investment Shares on issue.
Share Listings and Trading Procedure
History of Member Investment Share Trading
Period Ending Number of Trades Number of Shares Traded Quarter to 30 Sept. 08 3 34,000 Quarter to 30 June 08 2 5,500 Quarter to 31 March 08 4 2,500 Quarter to 31 Dec. 07 2 14,500 Quarter to 30 Sept. 07 3 25,500 Quarter to 30 June 07 3 56,000 Quarter to 31 March 07 0 0 Quarter to 31 Dec. 06 2 5,000 Quarter to 30 Sept. 06 0 0 Quarter to 30 June 06 3 85,000 Quarter to 31 March 06 1 3,000 History of Member Investment Shares - Dividends Paid
Period Ending Date Paid Rate Paid % Franking % 30 June 08 Interim 20 June 08 8.21 100 30 June 07 Final 20 December 07 8.21 100 30 June 07 Interim 20 June 07 8.21 100 30 June 06 Final 20 December 06 7.57 100 30 June 06 Interim 20 June 06 7.57 100
MCU Offer Information Statement for Issue 1. (5Mb PDF)
Note: Information Only - Offer closed 5th December 2005
Shares Trading How To
MCU provides this site as a Matching Facility service only, which allows Members to notify other Members of their interest to either buy or sell member investment shares in MCU.
MCU does not operate a market, and therefore is prohibited from providing any information in respect of pricing of MCU member investment shares. Buyers and/or Sellers are not required by law to disclose pricing details of traded shares to us, but may do so voluntarily.
Members interested in buying and/or selling MCU Member Investment Shares, need to contact advertising Members directly to negotiate the sale. Buyers must be Qualifying Members of MCU. (A "Qualifying Member" is a current MCU member of at least three months standing).
Once an agreement has been reached between the Buyer and the Seller, settlement of the trade and transfer of ownership of the shares must be affected by the Parties.
Procedure for Execution of an Off Market Share Transfer
- Settlement monies must change hands between Buyer and Seller, by arrangement;
- A share transfer form must be completed (Member Investment Share Transfer Form)
- Lodge the above duly executed share transfer form and original share certificate with MCU at the address below:
Company Secretary
Maleny Credit Union
PO Box 1099
MALENY, 4552Once MCU has received the duly executed share transfer form, the transfer form will be reviewed to ensure that the trading Parties meet the eligibility requirements for a valid transfer. If the eligibility criteria are satisfied the transfer will be entered onto the Member Investment Share register and an updated certificate of shareholding will be issued to both Buying and Selling Members.
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©Copyright 2003-2008 Maleny and District Community Credit Union Limited
Ph: 07 5499 8988 | AFSL: 246921 | ABN: 52 087 650 995 | BSB: 704-606 |
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