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Unity Bank had the opportunity to attend the MEU AGM from the 3rd to the 4th of April 2025. It was an extremely successful event with a variety of different organisations attending and representing their core business products and services.  Unity Bank conducted a random prize draw, with two prizes to be won.  Congratulations to our winners Brendan and Mitchell, who attended the conference and entered our competition! Brendan won a $300 BCF gift card and Mitchell won a $100 EFTPOS gift card! We hope you enjoy your prizes!! We would also like to thank everyone who attended the event and visited our Unity Bank stall.

Today marks an important milestone as the merger-of-equals between G&C Mutual Bank and Unity Bank takes effect, with the legal merge and banking system integration taking place on 7 March 2025. This follows the earlier regulatory approval and overwhelmingly positive member vote and is the culmination of over 18 months of planning and collaboration by staff across both organisations. Unity Bank CEO Danny Pavisic and G&C Mutual Bank CEO Rosanna Argall noted that the successful completion of the merger helps secure a strong future as one of Australia’s leading mutually owned banks. "Both organisations have always prioritised the needs of our members and the communities we serve, and this merger creates an even stronger platform for us to fulfill that mission. As we move forward together, we are excited to offer even greater benefits to our members and continue our legacy of trust, service, and community engagement.” Member benefits of the merger include access to an expanded branch network, continuity of access to exceptional staff and face-to-face service, improved product range with fewer and lower fees, increased ability for technological investment, scale efficiencies and a continued commitment to member first principles of mutuality. At a combined $3.8b in assets, the merger provides even greater opportunity to continue the strong growth of the organisations, with both having tracked well above system growth in recent years. The merged entity will be G&C Mutual Bank Limited immediately following the merger, changing to Unity Bank Limited from 1 July 2025. The G&C Mutual Bank, Unity Bank and Reliance Bank brands will be retained and consolidated into a single Unity Bank brand over the next 12 months.

As part of the merger with G&C Mutual Bank, members are advised that the Account and Access Facilities Terms and Conditions of Unity Bank and G&C Mutual Bank have been combined. While there are no significant changes to the terms themselves, we want to ensure that members are informed about this update. The combined Account and Access Facilities Terms and Conditions are effective as of 7 March 2025. We recommend you take the time to read through the Account and Access Facilities Terms and Conditions, to familiarise yourself with the document and understand how it may impact you. By using your account and access facilities with Unity Bank and G&C Mutual Bank after the date the changes take effect, you agree to the combined terms and conditions applying.

While booking time off is exciting, it’s even more important to ensure your plans are legitimate so you don’t end up the victim of a travel scam. "Scammers often lure travellers with discounted travel packages that promise luxurious accommodation, exclusive deals, or free prizes, only for the victim to realise none of it was true," explained COBA’s Acting Chief of Financial Crimes and Cyber Resilience, Martin Latimer. To help ensure your holiday plans go ahead, COBA’s financial crimes team share expert tips on how to identify and avoid travel scams. What is a travel scam? A travel scam entices travellers with cheap flights and accommodation offers, free vacations, or exclusive holiday rentals that promise the holiday of a lifetime. Scammers create fake listings for popular travel destinations that mimic legitimate online travel agencies, often requiring payment upfront or request unusual and unsecured methods of payment that scam victims out of money. Travel scams can take many forms, including: Fake travel websites, booking platforms or rental listings advertised online. Unsolicited calls or emails offering free or heavily discounted luxury vacations. Fraudulent online marketplaces where scammers demand upfront payments for non-existent bookings. “These fake travel deals target victims booking big overseas holidays or short domestic trips, so it’s important to ensure you’re using reputable sites and avoid any requests for suspicious methods of payment,” Martin says. “Once the victim hands their money over to the scammer, they may discover the deal doesn’t exist, the accommodation listing was fake, or – upon arrival at the destination – realise it’s nothing like what was advertised,” he adds. Tips to protect yourself Do your research: Verify the legitimacy of travel websites, agencies, or accommodation listings by reading reviews from other travellers or ask for proof of the agency’s accreditation or certification. Beware of listings with limited photos, vague descriptions, or deals significantly cheaper than market rates. Be sceptical of unsolicited travel offers: Avoid holiday deals that seem too good to be true, especially if they’re unexpected. You may receive emails notifying that you’ve won a free vacation and ask you to click a link to claim the prize – this is likely a scam, especially if you haven’t entered any competition. Use secure payment methods: Avoid transferring money or paying through untraceable methods like gift cards or cryptocurrency. Stay vigilant during travel Remember, travel scams don’t stop once you’re on holiday as scammers can lurk in popular tourist destinations and trick travellers looking to use common services or holiday activities. These can include: Taxi scams. Vehicle hire scams. Wrong or overcharging scams. Credit card skimming. Pickpocketing and theft scams. Visa scams. Fake ticket scams. QR code scams. “Carry my bag” scams. More information on how these scams occur and how you can protect yourself is found at Smartraveller. What to do if you suspect a scam If you encounter a potential scam, report it to ScamWatch.gov.au to help protect others from falling victim. If you’ve been scammed, immediately notify your bank or financial institution. Customer-owned banks are dedicated to safeguarding their customers from scams and fraud. In November 2023, 55 mutual banks and credit unions demonstrated this commitment by joining forces to launch the Scam-Safe Accord with the Australian Banking Association. This industry-wide initiative represents a united front against scammers and reinforces the banking sector’s determination to strengthen consumer protection. Find out more about the Scam-Safe Accord here. 

Your Unity Bank Visa card is giving you new ways to win! Pay with your Unity Bank Visa Card and you could win a trip to the Melbourne Race Weekend. It’s easy: simply use your Unity Bank Visa Card between 13 January, 2025 to 20 February, 2025 and every 10 qualifying transactions will earn an entry. The more transactions, the greater your chance to win.  Prizes include: 1 of 4 Melbourne Race Trips including flights* and 4 nights’ accommodation Or 1 of 16 exclusive merchandise packs So, get tapping and you could be off to the races!   T&Cs apply (visa.com.au/promotions/terms-and-conditions-cuscal-race-weekend.html). AU 18+, Visa debit/credit card holders issued by Participating Financial Institutions (see terms). Ends 20/2/25. 1 Prize p/person (excl SA) *Including $2k flight voucher for flights NSW Authority No. TP/04034. ACT Permit No. TP24/02971. SA Permit No. T24/2262.

Budgeting is something that many of us don't like to consider as we think it will tie us down. But if you really stop and think about it, budgeting is simply a means of looking at your income and expenditure and deciding on what is most important to you. Once you identify what you want to achieve, a budget is a tool to help you get there. Tracking your spending Where does all my money go? Very few people can answer this question accurately. Learning how and where you spend your money is the first step in managing your finances. Keep a financial diary Select a defined time period eg a month or 4 weeks; Record all of your spending in a notebook, create as many categories as you need e.g. petrol, lunch, transport etc; Ensure you include small items such as snacks, drinks, parking meters, tolls, donations etc; At the end of the month, use the category totals as part of your annual budget; You may choose to look for any spending that was spontaneous, wasteful or a luxury that you could do without in the future. How to curb impulse buying Next time you are tempted by an unplanned purchase, ask yourself: Do I really need it? Will I really use it? Will I still like it next month/next year? Is the price likely to be reduced at an end-of-season sale? If I don't buy it now, do I want it so much that I will make a special trip later to come back and buy it? Planning a budget A budget can help you plan your expenses and save for things you want. Managing credit or simply covering expenses is not always easy but following these steps will help you control your finances: Add up your earnings each week (or fortnight or month) Subtract regular payments or basic expenses; Rent or mortgage repayments; Food and household needs; Utilities (phone/electricity/water); Transport expenses (travel passes, petrol, car registration, maintenance); Health needs; Insurance (health, house, car, travel etc) You should include yearly expenses such as car registration and insurance in your budget. You can divide these totals by 52 for the amount to budget for each week (or divide by 26 for the amount to budget each fortnight or by 12 if your budget is calculated on a monthly basis). Subtract regular payments for lifestyle bills and expenses: Entertainment; Clothing; Personal grooming; Home appliances If you are not sure as to how much you spend; either make an estimate and review it after 3 months; or consider tracking your spending for a month. Allocate additional funds to cover Loan repayments; Additional superannuation contributions The amount of money that is left can be used to buy things that you want or to save. Online budget calculator To help you plan your budget, you can utilise our budget calculator which takes into consideration all of your general expenses and gives you an idea as to how much you could save. Check our online calculators here. Saving Saving may appear to be difficult and disciplined, but think of the feeling of being able to afford to buy something you have wanted for a long time. Here are some tips to help you on your way. Set yourself a savings target Aim to save 10% of your gross annual income. This breaks down to 5% for short-term goals and 5% for long-term goals. Tip - the 10% rule If you've never been a successful saver before, start off slowly. Leave committing to medium or long-term goals for a while until you're confident a saving strategy is within your reach. Set yourself one short-term goal - perhaps 3 months away - that requires only a small amount of cash; Then set aside 10% of your income each week in a separate savings account; At the end of 3 months, withdraw the cash to pay for your small goal - perhaps a weekend away or a new piece of clothing - and if there is any money left over make that the first instalment in your next savings goal. Develop a safety buffer The key to successful money management is to put funds aside during the good times and to minimise financial stress during bad times. Remember to allow for unexpected debts and emergencies e.g. illness in the family, loss or breakage of possessions, career interruptions etc. Tip - how much is enough? Singles and couples should consider developing an emergency fund equal to 2 months take-home pay in case of retrenchment or emergencies. Those with young families should aim to build up an emergency fund equal to 3 months take-home pay. Quick budget reminders Don't make your budget so tight that it's impossible to keep; A budget is not set in stone. It is there to help, not hinder you. A sign of a successful budget is one that is flexible during tough times and able to reward you when your prospects are brighter; If you blow your budget one month, try to make up for lost finance in areas that are more flexible e.g entertainment or eating out; Revisit your budget every 3 months to see if there are any areas you can tighten up to improve your financial flow. Explore a Range of Savings Accounts for Your Financial Goals - Learn more.