News

Supporting Our Members Through Cyclone Alfred

Thu, 06 Mar 2025 02:50:59 Z

As Cyclone Alfred impacts communities across Queensland and New South Wales, Transport Mutual Credit Union’s Board and Management are closely monitoring the unfolding situation. We stand ready to assist affected members with tailored financial support, including:

Loan repayment relief – Options to defer or restructure your loan repayments
Fee waivers – Assistance with transaction fees, loan restructuring, and replacement cards
Emergency access to funds – Early access to term deposits or priority short-term financial support
Insurance claims support – Guidance on the claims process if your property or vehicle has been affected
Personalised assistance – We’ll work with you actively to find the best path forward

If you or your family are impacted, please reach out to us at 02 9763 3190, or visit transportmutual.com.au – you can also find us on our social channels.

TMCU is here to support you during this challenging time.

#CycloneAlfred #TMCUSupportingMembers #HereForYou

Transport Mutual Credit Union Announces 0.25% Reduction in Variable Mortgage Rates

Tue, 18 Feb 2025 06:02:01 Z

MEDIA RELEASE

Transport Mutual Credit Union Announces 0.25% Reduction in Variable Mortgage Rates

18^th February 2025 – Sydney, Australia – Transport Mutual Credit Union (TMCU) is pleased to announce a 0.25% reduction in all variable mortgage rates, effective from 21st February 2025. This change reflects TMCU’s ongoing commitment to supporting its members with competitive and sustainable banking solutions.

In response to evolving economic conditions and the needs of our members, this rate reduction will provide relief to mortgage holders, helping them manage their home loan repayments more effectively.

TMCU CEO John Kavalieros said, “At Transport Mutual, we are always looking for ways to give back to our members. By lowering our variable mortgage rates, we are ensuring that our home loan products remain competitive while helping our members with cost-of-living pressures.”

The new rates will automatically apply to existing and new variable-rate home loans from the effective date. Members are encouraged to review their loan details and contact TMCU’s team for personalised financial support and guidance. Members will automatically have reduced minimum monthly repayments, however can choose to continue with their current agreed monthly repayments should they wish.

For more information, please visit www.tmcu.com.au or contact our Member Services team via members@transportmutual.com.au

5 of the Best Places to Spend Christmas

Wed, 11 Dec 2024 21:38:15 Z

Holidays are a magical time of year and the way we celebrate—and where—can be as unique as each of us. Whether you dream of a white Christmas in a snow-covered village, a sun-soaked holiday on a tropical beach, or being at home with your loved ones, the options are endless. From cozy countryside retreats to vibrant city celebrations or even off-the-beaten-path destinations, there’s a perfect spot for every kind of Christmas cheer. No matter how you envision the season, there’s a world of possibilities to make your holiday truly unforgettable.

Essential holiday preparation tips

Christmas is a busy period, and it’s especially stressful if you don’t plan ahead. Before we dive into our locations, here are a few tips to make holiday travel a jollier affair:

Do your research: Being impulsive about your travel plans sounds fun but can quickly become nerve-wracking. To ensure your journey is as frictionless as possible, research your location, lodging, and attractions, and take local guidelines seriously.
Book early: The end of the year is the high season for many locations, so it’s essential to book as early as possible. Additionally, you should expect crowds and aim for flexibility while visiting the most popular attractions.
Prepare for holiday closures: Depending on which country you visit, businesses may close on Christmas Day. If you intend to be away for the whole season, plan on where you’ll be on the 25th. For example, see friends or family, or book accommodation with a kitchen to host a special lunch.
Ship gifts ahead: You can likely find gifts while you’re travelling, but they create extra luggage. Consider buying gifts before you leave and shipping them ahead to any family or friends you’re visiting or wait until you’re back home to send them out.
Get travel insurance: Travel insurance is essential protection for journey interruptions, stolen cash, lost luggage, and other events that could spoil a trip. We work with , Australia’s only travel insurance with instant payouts for common claims using the PassportCard.

Top 5 destinations to spend Christmas

There’s no end to holiday destinations but we’ve selected five locations that uniquely capture the Yuletide charm.

1. Copenhagen, Denmark

December is Copenhagen’s coldest month but also its most beautiful. At spots like the Shakespearean Kronborg Castle, Christmas markets take up residence, enticing tourists and forging sentimental memories with artisanal wonders.

We also recommend visiting the iconic Nyhavn. There, you’ll find a foodie’s paradise topped with authentic gløgg, a Yuletide speciality. Meanwhile, on the 13th of December, the Santa Lucia kayak parade passes through to dazzle and amuse.

Tivoli Gardens, one of Copenhagen’s most popular sites, comes to life as well. Buy tickets in advance and enjoy ballet shows, ice skating, themed rides, and an exclusive New Year’s dinner.

2. Alsace, France

Alsace’s mixture of history and serenity makes it a prime destination for more romantic travellers.

One staple in every tourist’s itinerary is Strasbourg. Arguably the most authentic Christmas experience in Western Europe, Strasbourg is home to the continent’s oldest Christmas market, Christkindelsmärik.

While there, Australians can enjoy mulled wine and fresh pretzels as they take in the giant tree situated on Place Kléber.

Beyond Strasbourg lies the mediaeval town of Riquewihr. Wine, museums, and leisurely tours pull you away from the cityscape. Well-preserved architecture takes a page out of fairytales, while endless wine tours could potentially top our own Barossa Valley.

3. Hokkaido, Japan

If you want to get out of the West, then Hokkaido, Japan is a unique offering. As the country’s northernmost prefecture, locals wholeheartedly embrace winter.

Christmas also isn’t as historically ingrained in Japan as it is in Australia or Europe. Consequently, if you want to slip away into the countryside, this is the place to do so.

Alternatively, the city of Sapporo twinkles with bright lights during the Sapporo White Illumination. A hallmark of the season, imaginative fixtures and a German-inspired market envelop Odori Park. Visit the Sapporo Tower at night to appreciate the city in full.

Winter sports fans can also head out to the slopes of Niseko. A resort town, Niseko provides various sites in Annupuri, Niseko Village, Grand Hirafu and Hanazono with respective attractions for skiing, snowboarding, snowmobiling, and snow tubing.

4. Aspen, Colorado, United States

If you’re heading to America, we suggest Aspen, Colorado as it’s the perfect departure from more popular US locations, like New York City and San Francisco.

Here, you and your family can enjoy the Rocky Mountains. Take part in the 12 Days of Aspen for a full itinerary of fun, music, and food. Plan ahead as events can change from year to year.

Meanwhile, for those more keen on going with the flow, Light Up the Night at the Aspen Snowmass Chapel is an annual event that encapsulates everything we love about American Christmas movies.

Alternatively, book a private sleigh ride at Aspen Carriage and Sleigh and have a romantic evening with your partner.

Lastly, no trip to Aspen is complete without skiing. Its beloved slopes provide world-class experiences for all skill levels, making it a must for enthusiasts and beginners alike.

5. Coastal Queensland, Australia

Thinking of staying closer to home for the holidays? The coasts of Queensland embody the perfect Australian Christmas through pristine beaches, ecological wonders, and hot summer days.

Brisbane, the state capital, decorates to impress. There’s usually something new to see every year. Cairns is worth a mention as it’s a gateway to the Great Barrier Reef and Daintree Rainforest. Christmas is the perfect time to explore tropical waters and see the reef or the world’s oldest rainforest in person.

The holiday season is joyful but busy, so it pays to be selective while planning your trip. Luckily, Christmas rolls around every year so you can pick a new location each time. Be it Copenhagen or coastal Queensland, there’s plenty of cheer to be had.

Top tips for travelling with kids

Wed, 18 Sep 2024 05:15:02 Z

Travelling with kids is a great opportunity to spend quality time together and create shared memories. It does require some extra planning though to ensure you’re prepared for the journey.

Here’s our top tips for travelling with kids.

Before You Go

Check everyone’s passport is valid with at least 6 months of validity left before the expiry date
Speak to your doctor to see if any of you will need any vaccinations prior to travelling
If any family members take medications, ensure you take a large enough supply with you to last the entirety of the trip, as well as some extra to cover you in case of any significant delays
Often kids will get served an adult meal so if your flights include meals, contact your airline to see if you can request kids’ meals for your children. They get served first and often have more kid friendly food options
Organise your travel insurance with PassportCard. Kids under 19 are covered for free (unless there is a pre-existing medical condition that you choose to be assessed and covered for).

On the Way

Remember to pack any medications, wipes, nappies and toiletries your children might need into your carry-on luggage, along with a change of clothing so you’re prepared for any accidents or spills
Have extra snacks and entertainment to help keep little ones occupied while in transit and just in case of delays.
Have kids chew gum, suck on lollipops, or drink during takeoff and landing to help with ear pressure.

When you arrive

Have a plan in case of emergencies. Keep a first aid kit handy and be aware of local emergency contacts.
Enjoy! Holidays are a great way to reconnect with kids outside the usual routine.

3 Tips to Keep Your Online Presence Merry and Bright

Thu, 21 Dec 2023 22:46:54 Z

With the festive season upon us, it's time to add a sprinkle of security to your online festivities. Here are three simple tips to keep your digital sleigh ride smooth and worry-free.

1. Secure Your Passwords Like You're Guarding a Gift List: Just as you wouldn't want anyone peeking at your carefully curated holiday gift list, make sure your passwords are strong and unique. Use a mix of uppercase and lowercase letters, numbers, and symbols, and avoid using easily guessable information like birthdays or common words. Consider using a reliable password manager to help you keep track of all your secure combinations.

2. Santa Knows when You're Being Phished: Be cautious of unexpected emails or messages, especially those asking for personal information or financial details. Cyber grinches love to send phishing emails disguised as festive greetings or tempting holiday offers. Double-check the sender's legitimacy, and don't click on suspicious links. Santa might be checking his list, but you should be checking your emails twice!

3. Spread Joy, Not Malware: Downloading festive apps and screensavers might seem like a jolly good time, but be sure they're from reputable sources. Malicious software can disguise itself as holiday cheer, so stick to official app stores and websites. Your digital fireplace shouldn't come with unwanted surprises.
Remember, a secure online experience is the gift that keeps on giving!

Remember, a secure online experience is the gift that keeps on giving!

A very Merry Christmas to you and your families from Team TMCU.

Transport Mutual Partially Absorbs RBA Rate Hike to Ease Member Burden

Thu, 09 Nov 2023 08:26:42 Z

Transport Mutual Credit Union CEO John Kavalieros, under the guidance of the Board, has today announced a tailored adjustment to its interest rates following the Reserve Bank of Australia’s recent increase of the cash rate to 4.35%.

In a move designed to alleviate the financial pressure on Australian families, Transport Mutual has chosen to partially absorb the impact of the RBA’s rate increase. The Credit Union has made a commitment to support its members during these challenging economic times, with housing affordability and the cost of living being at the forefront of these considerations.

Effective from 9th December 2023, the following loan rate changes will be implemented:

- Mortgage rates will increase by 0.15 percentage points per annum, significantly less than the rise set by the Reserve Bank.

- Personal loan rates will also see a modest rise of 0.15 percentage points per annum.

In a bid to support savers, all standard term deposit rates will increase by 0.20 percentage points from 13th November 2023, rewarding members for their savings and ongoing loyalty.

"Transport Mutual Credit Union understands that many Australians are feeling the pinch with the rising cost of living and housing affordability," said CEO John Kavalieros. "As a member-focused institution, we are taking a considered approach that we believe will help our members navigate through this period of economic stress."

While these are complex economic times, Transport Mutual Credit Union remains committed to providing financial solutions that support the wellbeing of its members. The decision not to pass on the full Reserve Bank increase to borrowers is reflective of the Credit Union’s dedication to its community and the understanding that every little bit helps.

Transport Mutual Credit Union is steadfast in its commitment to delivering competive rates, coupled with exceptional service, ensuring that members have access to the best possible financial support.

"We encourage our members to get in touch with us to discuss how these changes may affect their loans and deposits, and to explore the options we have available to support their financial well-being," added Mr. Kavalieros.

For more information, members are encouraged to visit www.transportmutual.com.au, contact our member service team on 02 9763 3190 or email the team on members@transportmutual.com.au.

About Transport Mutual Credit Union

Transport Mutual Credit Union is a member-owned Authorised Deposit-taking Instution (ADI) regulated by APRA. It has been providing financial services to Australians since 1964, with a focus on delivering comprehensive financial solutions and support to our members across the country. We are dedicated to the financial empowerment of our members and to contributing positively to the communities in which we operate.

Media Contact:
Daniel McDougall
Media and Communications – McDougall Media
daniel.mcdougall@mcdougallmedia.com.au
0407 637 541

Major Optus outage affects millions of customers

Wed, 08 Nov 2023 09:00:02 Z

Optus customers have been unable to make calls or use the internet for at least six hours on Wednesday morning due to a major outage that is affecting hospitals, public transport and businesses across Australia.

The issue – which is affecting other telcos using the Optus network such as Amaysim, Vaya, Aussie Broadband, Moose Mobile, Coles Mobile, Spintel, Southern Phone, Gomo and Dodo Mobile – was first reported by users about 4am.

Mobile phones are unable to make and receive calls and mobile internet services are also down.

Live Updates

8/11/2023 12.02pm

Looks like internet services back up for Optus users.

8/11/2023 11.45am

Only Optus customers affected by outage so far.
Mobile, phone and internet banking still available to everyone else.

8/11/2023 9.45am

We are aware of delays in EFT payments as a result of the Optus outage.

Also reporting card loss or fraud to our card services partners is impacted.

If you wish to report a card loss or fraud please call the Credit Union directly on 02 9763 3190 rather than card services.

Alternatively you can email the Credit Union on members@transportmutual.com.au

8/11/2023 8am

We are aware of the Optus outage across the country. Our technicians are monitoring systems availability.

At this stage TMCU services are operating normally. We will update you of any material developments. regards TMCU.

Transport Mutual Credit Union Declines Proposed Share Sale in Cuscal Ahead of Its Planned IPO

Mon, 09 Oct 2023 02:29:40 Z

MEDIA RELEASE

FOR IMMEDIATE RELEASE

Transport Mutual Credit Union Declines Proposed Share Sale in Cuscal Ahead of Its Planned IPO

Sydney, October 9^th, 2023 –Transport Mutual Credit Union (TMCU), has announced its unanimous decision not to participate in the proposed voluntary sale of 50% of its shares in Cuscal.

Cuscal was created by the Australian credit union movement in 1997, and today remains a renowned wholesale service and payments provider to the majority of Australian credit unions. It has suggested the proposed voluntary sale to all existing shareholders ahead of its upcoming Initial Public Offering (IPO).

"We're wary of the shift that might ensue post-IPO, a shift that could see our customers ultimately facing increased costs and a potential dilution of the very values that set credit unions apart," TMCU CEO John Kavalieros said.

“We believe introducing a new class of stakeholders through an IPO could potentially challenge Cuscal's longstanding dedication to mutual values.

”The core strength and advantage of Cuscal's service delivery over the decades have been its unwavering focus on mutual values, resulting in benefits for Credit Unions and their members alike.

“Introducing a new class of stakeholders, driven by different priorities, could jeopardise this dynamic.

“TMCU has been a committed shareholder in Cuscal, relying on its services to access the payments network and to issue products under licence such as Visa cards.

“This enduring partnership is grounded in mutual values and a shared commitment to serving and benefiting the broader Credit Union community and its members.

"Our primary commitment remains with our members, ensuring they continue to receive the best products and services, and value," adds John Kavalieros.

"Our decision is in alignment with that commitment and the values we've upheld over the years. We remain committed to being a values-driven organisation with the interests of its members always the highest priority.”

About TMCU:

TMCU is an industrial based Credit Union, committed to providing financial services that uphold mutual values and benefit its broad member base since its inception in 1964. With a strong history of community engagement, TMCU continually seeks to make financial decisions that prioritise its members.

Media Contact:

Daniel McDougall

Media and Communications – McDougall Media

daniel.mcdougall@mcdougallmedia.com.au

0407 637 541

How to Better Protect Yourself from Fraud

Thu, 21 Sep 2023 05:39:44 Z

As a TMCU member, your financial security is of utmost importance. Fraudsters are constantly coming up with new ways to steal your money and personal information, so it's important to take steps to protect yourself.

Here are some tips for preventing fraud:

1. Keep your personal information secure.
Fraudsters can use your personal information such as your name, address, Tax File Number, and credit union account details to steal your identity and commit fraud. Keep this information secure by using strong passwords for online accounts, shredding documents containing sensitive information, and being cautious about who you share your information with.

2. Beware of phishing scams.
Phishing scams are designed to trick you into providing your personal and financial information. These scams can take the form of emails, phone calls, or text messages that appear to be from your credit union, bank or other trusted sources. Be cautious about opening emails from unknown sources or clicking on links in suspicious messages. Always verify the authenticity of any requests for personal or financial information by contacting TMCU directly.

3. Monitor your accounts regularly.
Regularly monitor your TMCU accounts for any unauthorised transactions or suspicious activity.
If you notice any unusual activity, contact the Credit Union immediately. Early detection is key to preventing further fraud.

4. Use online banking securely.
Online banking can be a convenient way to manage your finances, but it can also be vulnerable to fraud. Make sure to use strong passwords, avoid public Wi-Fi when accessing your accounts, and log out after each session.

Additionally, be cautious about opening attachments or clicking on links in emails, and always verify the authenticity of any requests for personal or financial information.

5. Keep your devices secure.
Make sure to keep your devices such as your smartphone, tablet, or computer secure by using anti-virus software, keeping your software up-to-date, and avoiding downloading suspicious apps or software. Your devices can be a gateway for fraudsters to access your personal and financial information.

By following these tips and staying vigilant, you can help protect yourself from fraud. Remember to always be cautious about sharing personal or financial information, verify the authenticity of any requests for information, and monitor your accounts regularly.

If you suspect that you have been a victim of fraud, contact TMCU immediately on (02) 9763 3190.

Financial institutions contributing to our sustainable future

Tue, 15 Aug 2023 03:36:21 Z

There has been a lot said about getting to net zero, reducing emissions, targets, and the pressing need for action.

But what lies beyond the high level summary?

It might be news to many that government is working away feverishly to create the infrastructure and architecture necessary to enable a cleaner and more sustainable local environment.

Financial institutions like Transport Mutual Credit Union welcome this attentive and deliberate strategy from government.

We already recognise the possibilities and our Member appetite for more sustainable ways of doing things.

That is why we have our GreenRoad initiative, a range of green loans for solar panels, electric cars and e-bikes and the means to power them.

The government sees organisations like ours as positive contributor as we see a rise in the take up of electric transport, solar panels and other energy efficient devices in the home.

At the back end, perhaps not hidden completely from view but rather not getting the bright lights and attention just yet, is the establishment of frameworks to ensure financial institutions take the lead in offering finance and being sustainable businesses while doing so.

Also in the pipeline is a greater focus on the energy efficiency of both new and existing homes.

In years to come the energy rating of a home may be included in real estate agent marketing and lenders may look at it when assessing loan applications. That is a significant change. It may also effect the marketability and therefore the value of a home.

While it still has a way to go, the trajectory is pretty clear.

Here at Transport Mutual Credit Union we know that our Members are preparing for some of these changes.

We have seen a big increase in demand for green loan products, which has seen membership rise by more than 20% this year, and propelled our total assets to an all-time high.

We not only see the sense in doing our bit and supporting sustainability and liveability measures, we see the value in us doing this as a business.

Transport Mutual Credit Union looks forward to continuing to work with Government, our industry partner COBA and other like-minded organisations as financial services leads this change.

We welcome our engagement with the Department of Climate Change, Energy, the Environment and Water and their patient and clear explanation of the way forward for our industry.

As a credit union with deep heritage in transport, we have a history of being an early adopter and leading change and we look forward to doing that again here.

#greenloans
#sustainability
#customerowned
#cooperatives
#creditunion
#communitytransport

Customer Owned Banking Association
Department of Climate Change, Energy, the Environment and Water

Benefits of cycling to work

Mon, 14 Aug 2023 04:56:08 Z

Cycling to work is becoming an increasingly popular way for Australians to get to their place of employment. There are numerous benefits associated with cycling to work, both for the individual cyclist and for society as a whole. In this blog post, we will explore some of the key benefits of cycling to work in Australia.

1. Improved physical health

Cycling to work is a great way to improve your physical health. Regular exercise is essential for maintaining a healthy body weight, reducing the risk of heart disease, stroke, and type-2 diabetes, and improving mental health. Cycling is a low-impact exercise that is easy on the joints and can be adapted to suit all fitness levels.

2. Reduced environmental impact

Cycling to work is also an environmentally friendly choice. By choosing to cycle rather than drive or take public transport, you are reducing your carbon footprint and helping to reduce air pollution. This has benefits not only for the environment but also for your health, as air pollution has been linked to a range of health problems, including respiratory disease and cancer.

3. Time and money savings

Cycling to work can also save you time and money. If you live in a busy city, traffic congestion can be a major problem during peak hours. Cycling allows you to bypass the traffic, and you can often get to your destination more quickly than you would if you were driving or taking public transport. Additionally, you can save money on fuel, parking, and public transport costs by cycling to work.

4. Improved mental health

Cycling to work has also been shown to have a positive impact on mental health. Exercise is known to release endorphins, which are chemicals in the brain that make you feel good. Cycling is also a form of meditation, which can help to reduce stress and improve mental clarity. By cycling to work, you can arrive at work feeling energized and ready to tackle the day ahead.

5. Community building

Cycling to work can also help to build a sense of community. There are many clubs and bicycle user groups (known as BUGS) in Australia, and by cycling to work, you can connect with other cyclists and form new friendships. This can be particularly beneficial for people who are new to a city or who are looking to expand their social circle.

In conclusion, cycling to work is a great way to improve your physical and mental health, save time and money, reduce your carbon footprint, and build a sense of community. With the growing popularity of cycling in Australia, there has never been a better time to start cycling to work. So why not give it a try and see the benefits for yourself?

The recent OPTUS cyber-attack is a timely reminder to always take precaution with your personal information online.

Sat, 24 Sep 2022 01:45:22 Z

To our valued members.

As you may have heard in the media, Optus has reported a serious security data breach. At this early stage what we know from announcements on the Optus and Australian Competition and Consumer Commission (ACCC) websites is that following a cyber-attack, full identity details for an undisclosed number of current and former Optus customers was compromised.

The extent of the data breach for affected Optus customers is significant as the compromised data includes customers’ names, dates of birth, phone numbers, email addresses, and, for a subset of customers, addresses, ID document numbers such as driver's licence or passport numbers. Optus has advised that payment details and account passwords have not been compromised.*

This is an evolving situation and given it could affect over 9 million Optus customers, we have implemented heightened security measures for our members.

The Australia Government’s Scam Watch suggest further steps to protect your personal information which include:

Secure your devices and monitor for unusual activity
Change your online account passwords and enable multi factor authentication for banking
Check your accounts for unusual activity such as items you haven’t purchased
Place limits on your accounts
If you suspect fraud you can request a ban on your credit report. Also contact us as soon as possible.

Please remember:

Never share your one time passwords. Please only enter your one time password if you are comfortable making the transaction.
Keep your internet banking logins secure
Do not click on links in emails or text messages if you are not sure of the origin
TMCU will NEVER ask for your personal details over the phone.
It is a good practice to check your banking accounts regularly and to immediately report anything suspicious.

For more information, please visit the below links:

Identity theft - https://moneysmart.gov.au/banking/identity-theft
Identity fraud - https://www.oaic.gov.au/privacy/data-breaches/identity-fraud

We are receiving updates in regards to this situation often and will provide further information when it comes to light.

* https://www.optus.com.au/about/media-centre/media-releases/2022/09/optus-notifies-customers-of-cyberattack

Save money with solar

Thu, 11 Aug 2022 23:14:10 Z

Solar energy can help you dramatically reduce the running costs of your property, especially if you live in the warm parts of Australia. To find out how much money you can save with solar energy, there are a number of factors that need to be considered:

• Your average energy consumption
• Usage patterns
• Your feed-in tariff rate
• The size of the solar energy system you install
• Where you live

Your Average Energy Consumption

You can easily determine how much electricity you use by looking at the back page of your last power bill. The amount of electricity you consume will be shown in kilowatt hours (kWh). This is the first step in determining how much you can save with solar energy as well as which system is right for you.

Typically, larger properties or households with higher energy demands will require a solar energy system around the 5kW range or higher.

A 5kW system in Australia generates between 18kW/h - 25kW/h (depending on your region) of solar electricity on average per day.

You should refer to your bill to see how many kW/h or units you are currently using.

Usage patterns

Your solar energy system will produce electricity during daylight hours and any excess electricity generated is fed back into the grid unless you have a solar battery or other location to divert the energy to. Your energy provider will credit you for the export of power and this credit helps offset your power bills.

The clean electricity created by your solar energy system is always used in your home before power from the grid. If your home uses more electricity than what your solar energy system can provide, it will then source grid power.

The Size of The solar energy System You Install

The size of the solar energy system you install has a great impact on the amount of money you save. It’s important to choose a system that is large enough to cover your power usage, lessen your payback period and maximise return on investment (ROI).

Larger solar energy systems, such as a 5kW unit, will produce significantly more power than a smaller, 2kW system for example.

On the other hand, installing a system which is too large will mean you’re exporting a surplus of power back into the grid. Now that feed-in tariffs are lower, you will be selling power back to your energy provider for much less than the costs of your electricity rates.

Finding a system which suits your property size and consumption behaviour is the key to saving money.

Where You Live

Australia enjoys the highest solar radiation per square metre of any continent in the world. As a result, there’s plenty of opportunity for us to harness the power of the sun.

Your geographic location will influence the energy production of your solar energy system and ultimately, how much you can save. For example, solar energy systems installed in Queensland will yield more solar electricity than an equivalent unit installed in Melbourne.

In other words, in one region where solar radiation is stronger you may install a 2kW system, while in a region with less solar radiation, a 3kW unit will be necessary to achieve the same results.

The table below demonstrates what a 3kW system will save on average per annum. The two values indicate the average savings based on 5% and 25% export of electricity

Estimations on annual FIT & Offset values are provided from the Clean Energy Council of Australia.

Flood Relief for affected Members

Mon, 28 Feb 2022 09:23:27 Z

The current rain event and associated flooding is bringing challenges and risk to people all over south-east Queensland and NSW.

The Credit Union’s membership is spread far and wide across the states and so TMCU has activated its disaster relief support package for affected Members.

This package includes low interest loans, deferred loan repayments, early redemption of Term Deposits without penalty and priority processing of applications. TMCU can offer emergency accommodation support and assistance with navigating government relief programs available.

Any Members affected directly by the floods please contact us 02 8202-8555 and we will provide you with assistance.

Remember we are here to help, please stay safe.

Our gratitude and appreciation goes out to all emergency services personnel.

Credit Cards vs Debit Cards

Thu, 10 Feb 2022 00:17:35 Z

Have you ever wondered what the difference is between a credit card and a debit card? Which one’s better? Which one should I be getting? So many questions that we are here to answer! Read along to find out 5 things everyone should know about credit and debit cards.

1. Credit cards use borrowed funds

When using a credit card, you are essentially borrowing funds from your chosen financial institution via a line of credit. At the end of the month/quarter, you repay the funds you have spent with additional interest. If all repayments are made correctly, credit card use can benefit your credit score.

2. Debit cards use personal funds

On the other hand, a debit card uses your personal funds by debiting money directly from your chosen savings account. This eliminates the risk of debt and spending money beyond your means.

3. Both can be used to make online transactions

Online shopping is all the rage! Luckily, credit cards and debit cards can both be used to make online transactions, providing ease and convenience.

4. Credit cards often come with benefits

Most credit cards offer additional benefits which can assist when choosing a credit card. Rewards often come in the form of travel points, discounts and many other perks.

5. Debit cards are relatively more affordable

As debit cards do not charge interest they are relatively more affordable than credit cards.

If you a TMCU member enquire about our Clement Card. An interest-free Visa Card with just a low monthly fee based on your credit limit to get the best of both worlds!

Fraud and Scam Warnings

Sun, 05 Dec 2021 20:39:09 Z

Learn how you can protect yourself against fraud and scams online.

Security Alert from the ACCC

The ACCC has advised that many Australians are receiving scam text messages about missed calls, voicemails or deliveries, asking you to click on a link to download an App. However, the message is fake and the App is actually malicious software known as Flubot. Both Android phones and iPhones are susceptible. If you receive one of these texts, do not click the link. Delete the text. For more information, visit Scamwatch.gov.au

Scam Awareness Tips

The following tips will assist you in protecting your online banking -

Never give anyone, especially anyone who has contacted you via an unsolicited means, access to your computer, tablet or phone.
Never type your Internet Banking or Mobile Banking App log-in into a computer, tablet or phone at the request of others.
Never use a hyperlink in an email or text to log-in to Internet Banking or undertake a financial transaction. Only log-in to Internet Banking via our website address as disclosed on your account statements.
Never reply to an email or SMS that requests your personal information.
Never show or tell anyone, including the Bank, your Access Code, PIN or One-Time Passwords associated with your Internet Banking or Mobile Banking App.
Regularly check scamwatch.gov.au to learn about the latest types of scams.

Common Types of Scams

Flubot

Since August 2021, many Australians have been receiving scam text messages about missed calls, voicemails or deliveries. The text messages ask you to click on a link to download an App to track or organise a time for a delivery, or hear a voicemail message. However, the message is fake and the App is actually malicious software known as Flubot.

Both Android phones and iPhones can receive these scam texts. Messages contain a website URL followed by 6-8 random letters and numbers, and can include:

scheduling a delivery time
tracking a delivery
managing a delivery that is ‘in transit’ or will be ‘delivered soon’
telling you it's your last chance to arrange pick up/delivery of a parcel
asking you to enter your details to receive a package

If you click on the link and downloads the App, your phone will be infected. Once installed, the App can read and send text messages, make calls and access contacts from your phone. If you receive one of these messages, do not click or tap on the link. Delete the text immediately.

More information on the Flubot scam is available at: Scamwatch.gov.au

Romance scams:

One of the most common scams reported are Romance scams. These days, it’s very common to meet a new friend online, on online dating websites and social media platforms like Facebook. However, it’s important to be cautious of people who are especially interested in getting money out of you.

Be wary if:

After only a short time, they claim to have developed strong feelings for you and wish to meet/talk outside the legitimate dating or chat site.
Their online profile is not consistent with what they tell you.
They tell elaborate stories to gain your trust and sympathy.
They may not ask for money immediately, but tell you about their problems, often relating to topics that tug at your heartstrings (for example, about children, elderly relatives and pets).
If you don’t send money when asked, they become impatient and persistent.
You suggest a Skype meeting, but their camera is never working.

Be careful when sharing information about yourself, including photos, videos, and details of friends and family.

Remote access scams:

Another type of scam that has been reported is remote access scams. How this works is fraudsters will call you pretending to work for a well-known telecommunications company. They may claim there is a virus on your computer and they need your assistance to catch the hackers by gaining remote access to your computer.

No matter how professional the caller may sound, never allow them to have access to your computer or give out your personal details over the phone. Instead hang up immediately and contact your Telco directly to report the incident.

Hoax emails

Fraudsters may also try to contact you via email. One of the common types of hoax emails is phishing scams. The email will allege it is from an organisation, requesting confirmation of personal details such as account numbers, credit card details, Internet Banking logins, PINS, passwords, mobile numbers or access codes.

Details entered into a fraudulent website can then be used on the real website to commit fraud. These hoax emails often look genuine, with the same logo and branding as the actual organisation. It’s important to keep in mind, Transport Mutual Credit Union will never ask you to provide your confidential banking information via email. If you receive any suspicious emails, please refer these to Transport Mutual Credit Union immediately.

Virus or Trojan emails

Scam emails don’t always try to get you to directly reveal your personal details. Instead they may send links and attachments that upon clicking may infect your computer by installing malicious software (Malware).

If you open the attachment or click on the link in the email, the malware will try to install itself automatically on your computer, depending on the security software on your computer. The malicious software is designed to capture any information that you enter into online services such as internet banking, and send it back to a criminal who can use it for fraud.

There are many email scams designed to compromise online user credentials or personal information, in order to illegally obtain funds. These unsolicited emails are sent in high volumes to random email addresses in the hope that they will find banking customers.

NBN / Tax / Border Security scam

There are confirmed reports that scammers are impersonating companies such as NBN, the Tax Office and Border Security and requesting personal information which is then used fraudulently. Please ensure that you never give a third party any of your personal banking details such as access code, passwords or member number; and never give them remote access to your computer.

For more information on these type of scams, visit Scamwatch.gov.au

What to do if you suspect a scam:

If you receive a suspicious phone call hang up immediately and contact the company directly to report the incident. For unsolicited emails, do not click on any links, open attachments or enter any personal information as they may expose your computer to viruses, worms, trojans, rootkits or spyware.

Transport Mutual Credit Union does not send emails requesting you to confirm or disclose your internet banking login information.

To report suspected fraud or scams, contact us here.

Missed delivery, call or voicemail (Flubot) scams

Mon, 27 Sep 2021 01:58:59 Z

If you’ve been bombarded with strange texts lately, you’re not alone because thousands of Australians have been reporting scam text messages and unfortunately these messages are often attempting to infect your device with Flubot malware.

What Is FluBot?
FluBot is malware that can be installed on your Android device, usually without your knowledge.

How does FluBot infect your phone?
The virus is spreading via text messages. The texts are usually filled with spelling mistakes that look something like this:

“efgh2 You have a missed call. Caller lfrt a mssafge,” followed by a link.

Clicking on the attached link will take you to a fake website that mimics a brand you may already trust.

From here, you’ll be prompted to install an app to listen to a voicemail or track a parcel. However, once you give permission to download the app, the malware will be loaded onto your device.

What Can FluBot Access?
Once installed, FluBot can access your contact list, sending further infecting messages on your behalf.

Additionally, it can access your personal information, including your banking details if you use banking apps while the phone is infected.

If your device is infected, you should immediately remove the malware and change all of your passwords (just make sure you change these on a separate device).

How do I know if my device is infected?
While it can be hard to know if your device has been infected, or if your device is sending out texts to infect other devices, here are a few warning signs to look out for:

If you're a member of ours, we may have sent you a warning message to let you know you’re sending out abnormally high volumes of texts.

You may receive calls or texts from unknown numbers asking why you messaged them.
A new app called ‘Voicemail’ is present on your device. The icon is a blue cassette in a yellow envelope.

How can I remove FluBot?

Most anti-virus applications for Android will be able to detect and remove the malware from your device. If you need to manually remove the malware you can attempt either of the below options:

Turn on Google Play Protect, as this may allow you to remove the malware app Activate Android's Safe Mode. This will temporarily block any 3rd party apps from running, allowing you to identify and uninstall any Flubot apps.

If the above steps do not resolve the issues, you'll need to perform a factory reset of your device. This should remove the malware but risks erasing all your other data (photos, messages, apps, etc). If you perform a factory reset, make sure you restore content from a not-so-recent backup to avoid the malware remaining on your device.

Additional ACCC Advice

Do not click the links and delete the text message

Do not call back the individual who sent the text as they are unlikely to be the scammer. It is possible their device is not infected and their number has been spoofed

Please visit this Scamwatch.gov.au news article for more information and what to do if you have been scammed.

How to Introduce Kids to Money and Saving

Fri, 10 Sep 2021 23:53:03 Z

Being money smart is an important life skill. You can introduce your kids to concepts of money and saving from a young age to shape their relationship with money. And would you believe us when we say you can even make money fun for kids!

Read along to find out our best tips:

Pocket money for chores
To teach children the value of money, you can reward their completion of chores with a small allowance or pocket money. Encouraging kids to help out around the house with the reward of money teaches the basic framework of the workforce, where skills and labour are repaid with money.

We recommend starting with something as small as $2 a week for basic chores such as;
feeding the dog, making your bed, taking garbage out or watering the plants can build the foundation of great working habits!

Use a piggy bank
Does anyone else remember having a piggy bank to collect savings? They are a great, fun way to introduce children to saving. By setting the goal to fill up the piggy bank, your child has something to look forward to and also a great new room decoration!

Teach the difference between saving, spending and sharing
When your child receives money - whether that be from pocket money, gifts, Christmas presents and so on, we recommend you encourage them to split the money equally into saving and spending.

Use the piggy bank to save and give the children the freedom to spend the money where they desire. Therefore, from a young age you instill the habit of saving a portion of money/wage that your child receives!

Helping each other through uncertain times

Wed, 28 Jul 2021 17:24:28 Z

As an organisation owned by its members, we have a long tradition of supporting members through uncertain times. Whether it is a bushfire, a flood, a drought or now a virus, we have done this for more than 55 years and will continue to do so, as we face this current challenge together. In uncertain times, you can be absolutely certain about our support for you and your family.

The health and economic impacts of the coronavirus pandemic continue to unfold, and Transport Mutual continues to closely monitor and respond to any developments. As previously advised our team is working remotely wherever possible, in keeping with the need to maintain social distancing for the health of the broader community. Our office is well stocked with personal protective equipment for those who attend the premises. Board and staff meetings are successfully being held electronically and we are happy with the high level of service we are delivering to members as we all adapt to the changing circumstances.

We understand that at this time, some of our members' financial needs may be changing, and so today we want to let you know of additional support options that you can access as a TMCU member. We are committed to supporting you through these difficult days, with a package of support options open to members such as a pause on repayments for those experiencing financial stress due to the impact of COVID-19.

As a Transport Mutual member, you can access a tailored package of support options right now:

Home loans and personal loans

Members facing financial difficulties due to impacts of COVID-19 may pause repayments for up to six months, with a check-in review after three months. This is aimed at reducing the immediate stress members may face as the virus impacts business and the broader economy.
Members may also redraw on any advance they have on their loan facilities, or improve their cash flow by reducing repayments to something more manageable right now, simply by getting in touch with the TMCU team via members@transportmutual.com.au.

General banking

To ease the stress of worrying about fees, Transport Mutual has made the following changes, effective immediately:

• Members can access funds in any term deposit without penalty for breaking the term early.
• Direct debit and other payment dishonour fees will be waived and absorbed by the Credit Union
• Arrears processing fees will be waived by the Credit Union

Reach out

Email – members@transportmutual.com.au

Phone – 02 8202 8555 (press 0)

Facebook - @TransportMutual

Remember, Transport Mutual is always here for you, so don’t hesitate to be in touch. We’re all in this together.

5 Ways to Reduce Your Carbon Footprint

Thu, 27 May 2021 05:03:13 Z

Here at Transport Mutual, we care about our future, which is why we like to promote sustainable choices that lower your carbon footprint. There are many choices you can make in your day-to-day life to lessen the impact you make on your environment.

What is a carbon footprint?
A carbon footprint is the total amount of greenhouse gases that are generated from our daily actions. This is usually generated from transportation, food consumption and energy usage at home. Each of these actions emit dangerous gases such as carbon dioxide, methane and nitrous oxide which trap heat in the atmosphere, causing global warming.

Here are our top 5 tips to reduce your carbon footprint!

1.Recycle, recycle, recycle!
It’s the oldest trick in the book. Most Australian products will indicate whether they are recyclable or not. Recycle as much as you can to prevent waste of potentially useful materials.

2.Drive less
Transportation emits the highest levels of carbon dioxide. When you can, take the environmentally friendly option. Walk, take public transport, ride a bike or even carpool!

3.Buy local produce & eat less meat
Meat production uses a lot of food, water, land and energy, so when you can, try to eat less meat! Also, local produce uses up less transportation, therefore leaving less of a carbon footprint. Support local grocers and support environmental sustainability!

4.Sustainable energy use at home
Without noticing, we use a lot of energy at home, from lights, TV’s, heaters and more. When you can, try and sustain your energy use by turning off unnecessary electricity. Solar panels are also a great way to reduce carbon footprint in your home. Our GreenRoad loan now covers solar panels! So what are you waiting for? Make the switch and go solar!

5.Electric and Hybrid cars
Haven’t you heard? Electric cars are all the rage today! And why wouldn’t you be a fan. With reduced fuel costs, lower emission of greenhouse gases and an improved driving experience, electric and hybrid cars are guaranteed to be a worthwhile investment. With the help of our Green Road Loan, you can be driving your own electric car in no time! Find out more here:

Transport Mutual Green Loans

Credit Scores

Mon, 19 Apr 2021 04:17:40 Z

A credit score represents the creditworthiness of an individual. Here at TMCU, we take cautionary measures to ensure we accurately calculate member’s credit scores. So how exactly are they calculated, and what does your credit score mean for you? Read along to find out.

How are credit scores calculated?

A credit score is calculated from a credit report which is compiled via Equifax, a credit reporting agency. Once TMCU has been provided with adequate financial information, the lenders will run a credit report, where the member’s credit score will be determined.

The credit score itself is based on how many previous credit inquiries that an individual has applied for. Ultimately, the more enquiries, the less credible an applicant becomes. Inquiries can vary from loan applications, credit history and use of credit lines such as Zippay!

How can you improve your credit score?

So how can you improve your credit score? TMCU’s Senior Operations Officer, Greg Arvanitakis, advises that you should “avoid excessively applying for credit at multiple financial institutions”. Furthermore, applying for unsecured credit (such as credit cards, personal loans and so on) will impact your credit score far greater than applying for secured credit (such mortgages, car loans).

You can also ensure you maintain a satisfactory credit score by:
• Make loan repayments on time
• Carefully consider before applying for credit
• Pay-off any remaining debt
• Don’t make irrational loan applications until you are sure you are satisfied with the financial institution and your financial means
• Avoid use of ‘pay day lenders’

In doing so, you can keep your credit inquiries to an essential minimum and avoid credit score defaults and/or court judgement.

To find out more, speak to one of our friendly loans service staff at loans@transportmutual.com.au or (02) 8202 8555

Credit Card Hacks

Mon, 08 Feb 2021 03:33:32 Z

Credit card debt can get to the worst of us sometimes. Here are 4 awesome hacks that you can use to save money and maximise rewards with your credit card!

1. Set a monthly budget

Before signing up for a credit card, it is a good idea to know what you are able to afford and spend within your means. By creating a monthly budget, you are able to manage and organise your expenses to ensure you stay within your credit limit and don’t run the risk of accumulating higher credit debt!

2. Pay more than the minimum repayment

When the time comes to make your credit card repayment, pay more than the minimum! This will help you stay on top of your finances in the long run.

3. Understand cash advance transactions

A cash advance transaction occurs when cash is withdrawn from a credit card account. A transaction fee is usually charged, as well as interest from the date the cash is withdrawn until it is paid back in full. This can often increase your credit card bill, so be weary!

4. Take out a Credit Card Crusher loan with TMCU!

If you still have some remaining credit debt, our Credit Card Crusher is here to help! The Credit Card Crusher is a unique personal loan, designed to help you take control of your credit card debt. Apply today using the link below:

TMCU loan application

Transport Mutual supports 150+ years of ingenuity

Thu, 04 Jun 2020 07:09:53 Z

Transport Mutual Credit Union today has strongly endorsed a new campaign which proudly celebrates the ingenuity and ‘can do’ spirit of Australia.

Launched by the Customer Owned Banking Association, the campaign focuses on the relationship between hard-working Australians and customer owned banking.

Transport Mutual is part of a movement that began in Australia when groups of like-minded workers and communities came together to create building societies, credit unions, and mutual banks,” says John Kavalieros, CEO.

“Customer owned banking put people first from the beginning, and that has seen us stand by customers through droughts, fires, recessions and now the hardships of COVID-19.”

“We can take confidence in a tried-and-true way of working that has served generations of Australians and is more important than ever.”

Transport Mutual has been reaching out to customers in the transport community during these challenging times, providing care and support to those in need.

“We are especially proud of our employees who are going the extra mile for customers, from reaching out to those requiring financial assistance, to encouraging a greener environment through our products with purpose positioning.”

“The challenges we face together may change over time, but our can-do attitude and ingenuity will always be there. We want to take this message forward, because many people are anxious about the future.”

“Today, customer owned banking serves more than 4 million Australians and operates from every state and territory. Transport Mutual Credit Union is proud to be part of an industry that combines ingenuity with values that place our customers at the centre of all that we do.”

“As a sector, we are still committed to helping people and families buy homes, plan for a bright future, help businesses get ahead, and grow communities. Fair rates and a fair go for all.”

For more information please contact:

members@transportmutual.com.au

Vale Noel Hancock 1943 - 2020

Tue, 17 Mar 2020 09:53:39 Z

It is with great sadness that the Credit Union announces the passing of Noel Hancock after a long illness.

Noel's voluntary service to your Credit Union spanned 22 years as Director, and for 18 of those years Noel served as the Board's Chair. Noel's leadership of TMCU oversaw a sustained period of growth and change for the organisation, whilst dealing with the challenges of competition and regulation with energy and commitment. Noel was a Member for more than 52 years and he served with distinction, always considering the interests of Members in any of his deliberations as a Board Director. Noel led TMCU by example and was endlessly supportive to members of staff and the Board.

The entire Transport Mutual family wishes to acknowledge the enormous contribution of Noel Hancock in steering the organisation to where it stands today. We wish strength and love to Noel's family including his wife Daphne, his daughters and granddaughters in the difficult days to come. Funeral arrangements will be available from the Credit Union in the days ahead, for those who wish to personally farewell our friend, Noel Hancock.

Transport Mutual's response to the COVID-19 outbreak.

Thu, 12 Mar 2020 06:26:12 Z

Dear Members,

We would like to inform you of measures Transport Mutual is taking in response to the COVID-19 outbreak.

Transport Mutual continues to provide Members with a full range of banking services. As an added risk mitigation strategy, and in accordance with our Pandemic Planning arrangements, Transport Mutual staff will be working remotely at times in the days and weeks ahead. There may be times when our team operates entirely from secure remote locations.

In that instance if you wish to speak to a staff member, please leave a voice message on our head office number 02 8202 8555 and a member of the team will respond to you within 30 minutes. Our preferred method of contact during the current virus outbreak is via email to members@transportmutual.com.au however we will also monitor social media and voicemails for messages from Members and will respond to any queries as quickly as possible.

Please follow @TransportMutual on Facebook and Twitter for the most immediate information as we face the challenges of COVID-19 together.