The PRWIRE Press Releases https:// 2015-07-21T23:51:53Z ADCU pushes mutual banking into the Digital Age 2015-07-21T23:51:53Z adcu-pushes-mutual-banking-into-the-digital-age Mobile banking has never been easier for members of the Australian Defence Credit Union (ADCU) with the release of the new ADCU mobile banking app.  Having achieved a remarkable download rate of over 10% since launch on June 19, CEO John Ford said the new iOS and Android app gives members the mobile banking experience they’ve been looking for. Developed in partnership with payments specialist Cuscal, the app’s advanced functionality allows users to show all accounts and transactions, pay anyone via bank to bank or BPAY, change card PIN or find the nearest ATM. The app also has HCE payment technology which allows Android phone users to make contactless payments everywhere Visa payWave is accepted.  The release of the app follows ADCU’s recently launched mobile optimised website and application system, making its digital offering among the most advanced of any Australian mutual financial institution. These enhancements are part of a clear mobile first strategy for ADCU. “With the majority of ADCU’s member base under the age of 40 and constantly on the move due to deployments, we recognise how important mobile technologies are to member satisfaction” said Mr Ford. “Member expectations are rising in terms of access and timeliness. It’s our obligation as a member owned organisation to give our members the best tools possible to efficiently manage their money.” ADCU’s mobile app is available to download for free from Google Play and the App Store. Notes for editors: ADCU is Australia’s longest serving Defence financial institution and have been providing banking services to the greater Defence community since 1959. They are an Authorised Deposit Taking Institution with branches on major Australian Defence bases, over 48,000 members and funds under management of $1.10 billion. ADCU is regulated by APRA. Find out more about ADCU at www.adcu.com.au or follow us on Facebook . Cuscal is Australia’s leading provider of end-to-end payments solutions, working with more than 100 clients across a diverse range of industries. In recent years we have helped our clients to operate at the forefront of banking innovation. We were first to issue a Visa Debit card in Australia and our redi2PAY app was the first HCE-based mobile payment solution in the Asia Pacific region.  Find out more about Cuscal at www.cuscal.com.au or follow us @cuscal or LinkedIn.com/company/cuscal. Learn more about the new ADCU mobile banking app.  Learn more about the new ADCU website. Australian Military Bank - more than a name change 2015-07-01T03:38:36Z australian-military-bank-more-than-a-name-change Australian Defence Credit Union Limited (ADCU) has taken a major step, building on its commitment to the Defence Community, by revealing plans to change its name to Australian Military Bank Ltd. CEO John Ford said that the move to rebrand as Australian Military Bank forms part of the organisation’s greater strategy for ongoing growth and commitment to improvement. “It’s not just about a name change. Member expectations are rising in terms of access and timeliness. In response, ADCU has made a considerable investment over the past two years to enhance our service offering and relevance to members.” CEO John Ford said. ADCU has recently released a new mobile banking app, mobile optimised website and online application system. Mr Ford said “We have substantially improved our digital service delivery and are continually looking at ways to speed up our loan processes from application to fulfilment.”  “Becoming a mutual bank is the next major step in delivering on our brand promise which includes being dedicated to serving the Defence Community”. “We increasingly find young Defence recruits don’t understand what a credit union is, whereas the word ‘bank’ is generic and readily understood. We believe that Australian Military Bank will clearly communicate who we serve and what we do”. Chairman of the ADCU Board, RADM Clinton Thomas said “Strong support for our new brand within the Defence Community is critically important to us.” “For this reason, we commissioned independent research with members of each of the three (3) Defence services”. “We researched a variety of names and our members expressed a strong preference for the name Australian Military Bank. They viewed it as strong, unambiguous and patriotic.” The Board of ADCU is recommending members vote in favour of the name change at the Annual General Meeting in October. If passed and subject to approval from the Australian Prudential Regulation Authority (APRA), for the unconditional use of the restricted word ‘bank’, ADCU will convert to a Mutual Bank from 1 December 2015. CAPTION:  Chairman of the ADCU Board, RADM Clinton William Thomas AM, CSC, RAN and CEO John Ford present Australian Military Bank to the public About ADCU: ADCU has been providing banking services to the greater Defence community since 1959. They are an Authorised Deposit Taking Institution with branches on major Australian Defence bases, over 48,000 members and funds under management of $1.10 billion. ADCU is regulated by APRA. Learn more about the new ADCU mobile banking app: https://www.youtube.com/watch?v=Nf_UOU5HUIQ Learn more about the new ADCU website: https://www.youtube.com/watch?v=8zw34WnNetA   ADCU banking on a name change 2014-12-01T02:51:43Z adcu-banking-on-a-name-change Monday 1 December 2014  Australian Defence Credit Union (ADCU) is set to consult their members on becoming a Mutual Bank. This development was foreshadowed by Chairman of the Board, Rear Admiral Clint Thomas AM, CSC, RAN at their recent Annual General Meeting. The member vote on ADCU becoming a mutual bank will most likely be made at a Special General Meeting in May of 2015. If passed, it will allow ADCU to incorporate the term bank into its name strengthening its appeal to a new generation of members. “Becoming a Mutual Bank will allow us to communicate more clearly who we are and what we do. Younger people are less familiar with what a “credit union” is these days whereas the term “bank” is readily understood. The proposed name change is all about removing friction to new memberships” said John Ford, CEO of ADCU. “ADCU already operates under the Banking Act (1959) and is supervised by APRA as an authorised deposit-taking institution. This means we comply with the same prudential standards as the banks and our members deposits are covered by the Australian Government deposit guarantee. Still, this is a pretty complex story to communicate and we could more readily convey the same message by simply calling ourselves a bank.”   “Even though the name of the organisation may change, we have no intentions to demutualise. We will still put our members before profits and remain dedicated to the Defence community” said Chairman Thomas. The decision to rebrand has been largely driven by Federal Government banking reforms to improve competition in the banking sector. The name change will be subject to approval from APRA (The Australian Prudential Regulation Authority). This potential conversion of ADCU continues a trend in the mutual financial sector where larger Credit Unions and Building Societies are converting to mutual banks. If APRA approves the name change, ADCU will join other converts to mutual bank status, such as Teachers Mutual Bank, bankmecu, QT Mutual Bank, Hume Bank and Heritage Bank. About ADCU: ADCU has been providing banking services to the greater Defence community since 1959. They are an Authorised Deposit Taking Institution with branches on all major Australian Defence bases, over 48,000 members and funds under management of $1.06 billion. ADCU operates in accordance with the Banking Act (1959) and is regulated by the Australian Prudential Regulation Authority (APRA). ADCU takes pride in their reputation for being helpful, reliable, professional and most of all for understanding the needs of the Australian Defence Force. ADCU to pave the way for low fees on Super 2014-07-16T05:21:40Z adcu-to-pave-the-way-for-low-fees-on-super Monday, 14 July, 2014 Industry research suggests Australians are paying up to three times more than they should for superannuation*. With fees averaging around AUD$726 per year^ it’s no wonder many Australian’s are looking to take extra precautions with their life savings as they approach retirement. To address the exorbitant fees affecting retirement balances, Australian Defence Credit Union (ADCU) recently released two new low-fee investment options. ADCU Capital Guaranteed Super and ADCU Capital Guaranteed Pension are specifically designed for those who are looking to protect their retirement lifestyle with a low-risk, capital guaranteed option for their life savings. They act as a strong alternative for consumers searching for accounts with no investment, entry or ongoing fees. John Ford, Chief Executive Officer of ADCU, said “We’ve taken on board feedback from those about to retire. They don’t want to risk their retirement nest egg nor do they want to see fees erode their effective rate of return”. When members invest their retirement savings, their money is placed in a low-risk, cash based account that is guaranteed against negative returns. Members can choose to watch their nest egg grow by allocating their funds in competitively priced variable or fixed term deposit options. Those still employed can also contribute to their account with personal or employer contributions. Once members have reached pension age they can use the Pension product to manage their income stream in draw-down phases with their choice of amount and frequency. “ADCU’s Capital Guaranteed Super and Pension offers the ability to lock in your rate of return in advance via our fixed rate option – thereby providing a secure and predictable income stream. We see this service extension as an important step to assisting retired members with a dignified and well earned retirement,” said Ford. Features and benefits: ·         No investment, entry or ongoing fees ·         Capital guaranteed, no risk of negative returns ·         View account balances in online banking ·         Choice of fixed or variable rates of return ·         Tax free income for members over 60 years ·         Covered under the Australian Government ‘s Financial Claims Scheme More information on ADCU Capital Guaranteed Super and Pension is available at www.adcu.com.au/retirement.   - ENDS -   Important information These products are issued by Australian Defence Credit Union Limited ABN 48 087 649 741 AFSL No. 237 988. Any advice here does not take into account your objectives, financial situation or needs, which you should consider before acting on any of our recommendations. To decide whether this product is right for you, please carefully read the Product Disclosure Statement which is available at www.adcu.com.au or in branch. ^Super Ratings, 2014, ‘MySuper sees fees reduce by 30% but not before Australians set to pay an extra $2 billion due to delays’, Media Release of 5 February 2014 http://www.superratings.com.au/media/mediarelease/05022014 *Rice Warner, 2014, ‘FSC Superannuation Fees Report 2013’ http://ricewarner.com/media/96729/Rpt-FSC-Superannuation-Fees-Report-2013-FINAL.pdf    About ADCU: ADCU has been providing banking services to the greater Defence community since 1959. They are an Authorised Deposit Taking Institution with branches on all major Australian Defence bases, over 47,000 members and funds under management in excess of $1.03 Billion. ADCU operates in accordance with the Banking Act (1959) and is regulated by the Australian Prudential Regulation Authority. ADCU takes pride in their reputation for being helpful, reliable, professional and most of all for understanding the needs of our members. To find out more about ADCU visit www.adcu.com.au. Achieve your New Year savings goals with ADCU’s new high-interest Online Saver Account 2014-01-15T23:06:09Z achieve-your-new-year-savings-goals-with-adcu-s-new-high-interest-online-saver-account Competitive bonus rate for balances $5,000 and over when no monthly withdrawals are made. No introductory periods, providing sustained value for customers. No fees or charges. ADCU has started 2014 with the announcement of an online only savings account. The competitive Online Saver Account offers a strong bonus interest rate of up to 4.27% p.a. for balances $5,000 and over, when no withdrawals are made during the month. It is a simple savings account, with applications and account management available exclusively online. Using the fast online application, customers can have their identification verified, and open a fully active account all within one working day. Amount Interest Rate $0 - $4,999 0.00% $5,000 and over 0.27% Bonus Interest (balances $5,000 and over and no monthly withdrawals). 4.00% Maximum Interest Available (balances $5,000 and over and no monthly withdrawals). 4.27% John Ford, Chief Executive Officer of ADCU said: “I am delighted for ADCU to begin 2014 with an account that rewards Australian consumers for positive saving habits. The account is designed to be simple, fair and transparent. It has an attractive bonus rate, giving customers an alternative to those savings accounts with limited introductory headline rates.”  The ADCU Online Saver Account is open to all Australians over the age of 18 and funds are covered under the Government Deposit Guarantee Scheme. More information on the ADCU Online Saver Account is available at www.adcu.com.au/onlinesaver. Australian Defence Credit Union and International Fleet Review launch competitions 2013-09-27T05:18:02Z australian-defence-credit-union-and-international-fleet-review-launch-competitions Photographers and visual artists are invited to enter The International Fleet Review (IFR) online Art and Photographic Competitions, for a chance to prizes up to $4000.The Royal Australian Navy and the Australian Defence Credit Union have signed a sponsorship agreement that will provide substantial in-kind support for the International Fleet Review, including a total of $15,000 in competition prize money, as well as promotional items for the crowds attending the Ships’ Open Days at Barangaroo and GardenIsland.Director of the International Fleet Review, Captain Nick Bramwell, said “Navy is looking for still images, paintings or drawings, which capture the spirit of the International Fleet Review and will provide a record of the events of 2013 for future generations.” Chief Executive Officer of Australian Defence Credit Union, Mr John Ford, said “The Australian Defence Credit Union is delighted to continue its longstanding support of Navy through this sponsorship of this imaginative International Fleet Review activity, which will engage photographers and artists attending this commemoration of Navy’s century of service.” Entries can represent any of the International Fleet Review activities taking place between Wednesday, 2 to Friday, 11 October 2013. Finalists’ work will be on display in the Australian National Maritime Museum 6-8 December 2013.Australian Defence Credit Union will present the top three winners of each category with their prize money at the opening of the exhibition on 6 December 2013.  The photographic entries close 20 October 2013. The art competition has two categories – Open, and Student, which close on 10 November 2013. Entry registration and conditions of entry are available via the International Fleet Review website: http://www.navy.gov.au/ifr/get-involved/competitions http://internationalfleetreview-photo.photophuse.com/ http://internationalfleetreview-art.photophuse.com/ Imagery available at: http://images.defence.gov.au/S20131508 Media Contacts:Lieutenant Celeste Ecuyer International Fleet Review 0477 383 713 Ben Wickham                         Defence Corporate Communication – NSW0405 310 176 ADCU DIY Super Saver Account awarded a 5-star CANSTAR Cannex rating 2013-05-24T01:10:52Z adcu-diy-super-saver-account-awarded-a-5-star-canstar-cannex-rating Wednesday 22 May 2012CANSTAR Cannex reviews ratings on a range of banking and finance products each year and assigns five star ratings to services and products that offer outstanding value. Commenting on the award, John Ford Chief Executive Officer at ADCU said “The award displays ADCU’s commitment to offering our members products with great value that meet their evolving financial needs.” “ADCU is proud to receive a five star rating from CANSTAR Cannex. This award acknowledges ADCU’s member centric values and reiterates our pledge to provide our members with outstanding value savings and investments products,” he said.  The landscape in which Australians manage their Superannuation has changed dramatically over the past few years and as a credit union ADCU is committed to growing and evolving with their members. The ADCU DIY Super Saver Account was designed to provide Self Managed Super Funds with a viable investment alternative to the larger banks. The product aimed to cut out the heavy fees traditionally associated with Self Managed Superannuation and give greater control back to members.  It operates as both a transactional hub and a high interest savings account, allowing the account holder to manage their cash and investments with flexibility.Mr Ford said “ADCU was able to achieve this award by cutting out the complexities of do-it-yourself Superannuation, and providing a simple, yet highly competitive option. The scoring model is consistent with our history of providing a high interest rate, low fees and a wide range of transactional features.” The ratings, released during April, compare 141 accounts across 66 institutions.  Accounts are assessed for value with regards to a number of characteristics, including interest rates, fees and features. ADCU was one of only 12 institutions to achieve the 5-star rating. ADCU is a member-owned organisation where all profits are reinvested back into the business, rather than to shareholders. This means they are able to deliver better interest rates and lower fees on our products to benefit their members. WORLD CUP MEDAL FOR AUSTRALIAN PENTATHLETE, CHLOE ESPOSITO 2012-04-11T05:14:24Z world-cup-medal-for-australian-pentathlete-chloe-esposito At just 20 years of age and winning a World Cup bronze medal in the sport of modern pentathlon, Chloe is overwhelmed at her recent success both in Brazil and in the World Cup #1 in the USA where she finished 5th. “I’m shocked and surprised but really happy. I have been training so hard this year and last year and it has really paid off”, Chloe said in her post race interview in Brazil (interview can be viewed here http://chloe2012.adcu.com.au/). Supported by her credit union, ADCU, Chloe blogs about her experiences via her website chloe2012.adcu.com.au and facebook and Twitter pages. “ADCU member Chloe Esposito is an inspiring young woman and we are proud to support her as she works towards fulfilling her dream of winning a medal at the London 2012 Olympic Games.” ADCU CEO, Ian Doyle. “We have been supporting Australians with their banking needs for over 53 years and we believe that it is important to give back to our community and support members like Chloe”. To prepare for the Olympics, Chloe is participating in a number of international competitions including the World Cup Series. To help pay for her Olympic preparation, Chloe needs to raise $60,000. These costs include her ongoing training, competition costs for the various championships in the lead up to the London Olympics, as well as her flights, accommodation, food and other expenses for these competitions. Chloe’s journey to the London 2012 Olympics continues in Budapest from 12-15 April at World Cup #3 (http://www.pentathlon.org/2012worldcup3). To support Chloe, donations can be made through the chloe2012.adcu.com.au website, merchandise can be purchased at any ADCU branch and you can follow her journey online. Read her blog or donate at chloe2012.adcu.com.au. Find her on facebook, www.facebook.com/chloe2012 Follow her on Twitter @TeamChloe2012.