The PRWIRE Press Releases https:// 2012-12-13T02:43:30Z QPCU Profits Members 2012-12-13T02:43:30Z qpcu-profits-members At the recent Annual General Meeting, CEO Grant Devine outlined the initiatives that will continue to build the financial strength and capital ratios of QPCU, to a level which is nearly double the regulatory minimum.  Profitability continues to be strong, building upon the solid capital reserves QPCU already holds.  In addition to this financial strength, Mr Devine outlined the concept of member "dividends" for credit union customers.  Dividends are derived from QPCU’s ongoing focus to reinvest profits for the benefit of its members. This means members can often access lower fees, lower rates on loans and higher rates on savings.    QPCU estimates the member dividend [1] was worth almost $2.5M to members over the past 12 months.  This number was calculated using financial and market rate data for the 2011/12 financial year.  Subject to a few reasonable assumptions [2], if members held comparable loan and deposit products with the Big 4 banks they would have received $1.3M less in deposit interest and paid almost $1.2M more in interest on loans.  These calculations demonstrate the benefits of membership that are not always obvious to prospective and current members. In addition to these savings, QPCU has lower fees on many of its products and services and also provided over $200,000 in support to the community during the 2011/12 financial year.   Mr Devine indicated that he believed these numbers and deeds provide the evidence of what QPCU is about - putting members and our community first.  Or a form of QPCU's member dividend to you![1] Dividends are not paid to members. The dividend stated reflects benefits to members from lower interest rates on QPCU loan products and higher interest rates on QPCU deposit products compared to average rates on equivalent products at the four major banks.  [2] A simple average of the published rates at the start and end of the 2011/12 financial year were taken on comparable products for QPCU and a combined simple average of rates for CBA, NAB, WBC and ANZ.  The average rates for the Big 4 were then compared to the average rates for QPCU, with the difference applied to the average of QPCU's loan and deposit balances from the start and end of the 2011/12 financial year, assuming these average balances invested for the full year and simple interest paid, with no adjustments for fees or charges. QPCU passes on full RBA rate cut – again! 2012-12-06T23:53:51Z qpcu-passes-on-full-rba-rate-cut-again Unlike most of the banks, QPCU will pass on the full RBA rate cut of 0.25%. This is similar to the last RBA change, where QPCU also passed on the full cut, while most of the banks did not. QPCU’s CEO Grant Devine said, “I’m really pleased that we have been able to pass on the full rate cut to our home loan borrowers. This is in spite of continuing pressure on funding costs, which all financial institutions are impacted by”. “The difference is that we’re owned by our members, not external shareholders. This means that we make our decisions in the interests of our members and this includes offering the best interest rates we can, for both lenders and depositors”, said Grant. As a result of the decrease, the standard variable home loan interest rate will now be a very competitive 6.14%. While the popular Classic Plus home loan interest rate will drop to an attractive 5.54% p.a. (for loans of $250,000 and over). This rate change is effective 12 December 2012 and applies to all variable home loan products.   Queensland Police Credit Union (QPCU) cuts Home Loan interest rate 2012-10-11T07:16:26Z queensland-police-credit-union-qpcu-cuts-home-loan-interest-rate QPCU is pleased to announce a decrease of 0.25% in interest rates for all variable rate home loan products, effective as at 12 October 2012.   This decision was made after careful consideration of factors including best interest of membership (lenders and depositors), costs of funding and competitive positioning.   As a result of the decrease, the standard variable home loan interest rate is now offered at  an extremely competitive rate of 6.39% p.a. and the popular Classic Plus home loan package is now offered at a very attractive rate of 5.79% p.a. (for loans of $250,000 and over).   In addition, some of the fixed rate home loan product offerings have been decreased, by up to 0.30%.   QPCU remains extremely competitive in the marketplace and is well positioned to provide members with a better financial lifestyle.    “We are committed to offering our members the best deal we possibly can. Like all financial institutions, QPCU has been affected by the continuing pressure on loan funding costs. However, because we are owned by our members, we are able to focus entirely on them, not on external shareholders. This means we have more flexibility to make rate decisions that are in the best interests of our members, and continue to offer the best possible rates to our members”, said Gabriel Romaguera, QPCU Chief Financial Officer.   Media enquiries: Email media@qpcu.org.au or phone QPCU Chief Financial Officer Gabriel Romaguera on 13 77 28. <ends> Queensland Police Credit Union (QPCU) launch a market leading fixed rate home loan. NEW 1 year fixed rate a low 5.49%p.a.(effective 8th August 2012) 2012-08-07T07:20:28Z queensland-police-credit-union-qpcu-launch-a-market-leading-fixed-rate-home-loan Queensland Police Credit Union (QPCU) announced the introduction of a market leading 1 year fixed home loan rate of 5.49% p.a. effective 8th August, 2012.This cracking new rate is on offer to all police, emergency service workers and the wider public service sector employees. The introduction of QPCU’s 5.49% one year fixed rate highlights the fact that credit unions can take the banks head on as a viable alternative for borrowers. With greater competition in the lending market, home buyers can now actively add credit unions like QPCU to their home loan provider shopping list.Grant Devine, QPCU Chief Executive Officer said, “Our aim in offering this low rate is to show support to the community we serve who want to switch away from their existing providers”.“This low rate is only one example of our commitment to offering our members the best deal we possibly can. As a credit union, we have more flexibility to make decisions that are in the best interests of our members” said Grant. For further information about the new QPCU 5.49% 1 year fixed rate loan offer or other products and services visit www.qpcu.com.au Media enquiries: Email media@qpcu.org.au or phone Grant Devine, CEO QPCU on 0488 003 394. QPCU holds home loan rates 2012-02-14T07:05:27Z qpcu-holds-home-loan-rates Over recent days, there have been many media articles written about Australia’s four major banks, as well as a number other financial institutions, increasing their variable home loan rates outside the usual Reserve Bank movements. This means that the MOST Australians with home loans will have their interest rates increased in the coming days. The financial institutions involved have stated that this rate hike is necessary because the cost of funds used by lenders to fund home loans have increased considerably in recent months. This has also been acknowledged by the Reserve Bank. However, the cost of funds to credit unions, such as QPCU, have also increased significantly for some time and are at least as high as the cost to the major banks. In the interest of our members, we are pleased to advise that, at this stage, QPCU will continue to absorb the increased funding costs that have led other lenders to move rates, and will be leaving our home loan rates unchanged. While we cannot guarantee how long into the future QPCU can resist these strong market forces, QPCU’s home loan borrowers will be receiving immediate benefit compared to most other borrowers. You’re safe in hands with QPCU Queensland Police Credit Union turns up the heat 2011-09-22T23:40:23Z queensland-police-credit-union-turns-up-the-heat QPCU’s 3 year home loan fixed rate is currently the lowest* in the Australian mortgage market at 6.29% p.a. (7.28% p.a. comparison rate). This is the same home loan that has been awarded a five star rating by independent research agency Canstar Cannex. QPCU CEO Grant Devine said “without the need to please external shareholders our priority is to look after our members. So our profit is reinvested into our products and services, rather than lining the pockets of shareholders. One example of how we’re doing this is by keeping lending rates low”. It’s nice to know that with cost of living on the increase there is the option of a low three year fixed rate that provides peace of mind in knowing the minimum repayment won’t change for the fixed rate period. “By choosing QPCU, members can save thousands on their home loan and just as important receive great personal service. In fact 9 of 10 members rate the service offered by QPCU as good or excellent”, said Grant. QPCU’s Three Year fixed rate home loan also offers an excellent alternative as it provides members with similar flexibility to a variable loan - with added peace of mind. Benefits include: repayments won't increase during the fixed rate term free online redraw facility# no penalty for extra repayments** no monthly fees Interest only available.Since opening its doors more than 47 years ago, QPCU has expanded its membership significantly. Its members include police and emergency workers and public sector employees and their families. WARNING: This comparison rate applies only to the example. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is calculated based on a loan amount of $150,000 over a 25 year term. Terms and conditions are available on request. Fees and charges are payable. Normal lending criteria applies. Interest rate current as at 23 September 2011 and is subject to change without notice. *Determined via Canstar Cannex home loan interest rate sheet as at 23 September 2011. #Not available on interest only. Fee for paper redraw applies. ** Limited to $10,000 per year in advance payments to a maximum of $30,000 in a fixed rate period - 3/5 year fixed loans only.Queensland Police Credit Union Limited ABN 79 087 651 036 AFSL/ACL No. 241413 Independent body rates QPCU’s credit cards and home loans 5 star 2011-07-12T06:34:23Z independent-body-rates-qpcu-s-credit-cards-and-home-loans-5-star QPCU has again been recognised as a market leader thanks to a five star Canstar Cannex rating for its credit cards, Classic home loan, Classic plus home loan and 5 year fixed rate home loan. QPCU CEO Grant Devine said the prestigious five star rating puts both its credit cards home loans in the top five per cent of these types of products offered to Australian consumers.“The Bluey Card offers some great benefits to our members, including a low interest rate, up to 55 days interest free, and no annual fee if you spend more than $8,000 on your card each year,” Mr Devine said.The Classic Plus home loan package earned the five star rating following a rigorous analysis of its pricing and featuresincluding: discounted home loan and overdraft interest rates, standard establishment fees waived, 100% mortgage offset and free online redraw. Mr Devine said the Canstar Cannex star ratings certainly help people navigate through the many financial product choices available. “There are so many credit cards and home loan options available, and it can be overwhelming for people trying to decide which one to choose.”Mr Devine said QPCU’s five star ratings also serves as a reminder to its members—their shareholders—that the organisation continues to provide the value they deserve and have come to expect.To find out more about QPCU’s five star credit cards and Classic Plus home loans phone13 QPCU (13 7728). QPCU appoints new Executive Manager 2011-07-07T06:20:41Z qpcu-appoints-new-executive-manager Steve Waters has been appointed as Queensland Police Credit Union’s (QPCU) new Executive Manager Sales and Marketing. For the last 6 years, the 39 year old has held roles at Suncorp and Sunsuper in the areas of product management, sales and marketing. In his last role at Sunsuper, Mr Waters headed up Sunsuper’s Customer Development team, which is responsible for the design and implementation of the customer engagement program for 1.1 millioncustomers. While at Sunsuper, Mr Waters designed their highly innovative and awarded On Track program and lead a business wide change of focus towards engaging customers with their super in key channels such as the call centres, statements and direct mail. These initiatives resulted in significant increases in retention and engagement of customers. “In my new role at QPCU, I will be managing the teams responsible for marketing, sales, distribution and member service. Having these teams working closely together means we can be more effective in helping our customers achieve a better financial lifestyle through our highly rated service and products. I will also be managing the relationship with business partners Bridges Financial Planning and QBE Insurance,” Mr Waters said. Mr Waters has completed a Bachelor of Commerce (UQ); post-graduate management studies (MGSM), is currently studying psychology and philosophy at UQ and is active in a number of charities at board level. QPCU 2011-04-06T03:21:13Z qpcu Queensland Police Credit Union (QPCU) has made a $10,000 donation to the Queensland Police Union (QPUE) flood relief fund as part of its continued support of flood victims. The QPUE has established a fund to support all QPS members who have been affected by floods across the State. They have taken this step because while any member of the QPS family affected may receive funds and assistance from other sources, these amounts may be insufficient to look after those members of the QPS family who may have lost everything. Queensland Police Union General President and CEO Ian Leavers thanked QPCU for their generosity. “QPCU was established by police for police and their families and we at the police union appreciate their kind and generous donation for those who have lost everything. We are all part of the police family and it is when times are tough we band together to support each other and this is one of those times”, said Mr Leavers. QPCU’s CEO Grant Devine said “it’s important that we continue to support those closely affected by the floods and by donating to QPUE we know that we are giving directly back to the police community and their families, at a time when they need it most”. “QPCU is committed to supporting all of its members who have been affected by the recent natural disasters and we hope that these funds will provide some additional relief to the police family”, said Grant Devine.