Edvest November 2017

November 2017
Newsletter
In this
edition
Money &
marriage the
second time
around
Wall to Wall:
Ride for
Remembrance
How to keep
your garden
green during
summer
How to build
an emergency
savings fund
Plus more!

Money & marriage the second time around
Finding a new life partner the second time around
can bring a lot of opportunity for new beginnings,
but it also brings challenges. How will children be
affected? Where will you live? How will you share
responsibilities? These are some of the issues that you
may need to deal with.
Financial aspects of your relationship can also present
some hurdles to overcome. Here are some key
financial issues you might want to consider if you are
looking to tie the knot again.
How will you handle daily finances?
There are many things to consider when joining
up your finances – especially where children and
stepchildren are involved. Decisions need to be made
about whether you keep separate bank accounts or
join them together. Then there are practicalities about
how expenses relating to dependent children will be
managed – this can get quite tricky if some are costing
more than others.
Different attitudes to spending and budgeting can also
be another issue that doesn’t arise until after you are
already living together. Some people like to be very
structured and frugal, while others might be more
carefree with their spending. Decisions also need to
be made on who will take responsibility for managing
household expenses.
Existing debts and mortgages will also need to be
dealt with, so that both parties agree on who is
responsible for what.
What are your long term financial goals?
Assuming you decide to blend your finances to at
least some degree, there may be many longer term
financial issues that need attention.
Investment assets are an area where decisions need
to be made for long term harmony. What assets do you
both already have and how will ownership and decisionmaking
be shared? What are your attitudes towards
investing and how do you plan to save for retirement?
A financial planner can play a key role to help you work
through such issues. They can help give you clarity
and confidence in making decisions that will set you
up for a future that is both prosperous and agreeable
to all parties.
Do you need a prenuptial agreement?
If your situation is complex, then it may be useful to
put expectations and guidelines down in writing via
a prenuptial agreement. These are otherwise known
as a binding financial agreement (BFA) and can be an
excellent way to ease concerns over ownership and
sharing of responsibilities, especially in the case of a
future breakdown in the relationship.
It is essential to seek professional advice on how such
an agreement will work and both parties must sign up
to it in order to make it valid and binding.
Estate planning can be a minefield
Did you know that a second marriage automatically
revokes the provisions of an existing Will? This means
that setting up new Wills and estate plans is of
paramount importance when you remarry.
Blended families automatically create the potential
for major conflict over finances. If you or your partner
dies suddenly, how funds are shared between children
can be problematic, so it may be worthwhile setting up
testamentary trusts to protect your estate assets and
help manage distribution to children smoothly and fairly.
Again, professional advice is critical to getting on
top of this situation and avoiding pitfalls of poorly
documented estate plans.
Superannuation and how benefits are paid out is
another significant matter to attend to, due to the very
specific rules that apply to the distribution of super
benefits. Speak to a financial planner to obtain a
review of your benefit nominations and how they will
be impacted by the second marriage.
We have chosen Bridges 1 as our preferred Financial
Planners. To arrange a complimentary, obligation free
initial consultation with a Bridges Financial Planner 1
near you, call 131 728 or visit www.policebank.com.au
(www.customsbank.com.au for Customs Bank Members).
2

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3

Opening Our New Service Centre
Our Campbelltown Service Centre closed its doors for the last time and has moved to a fantastic new space
in Narellan in October! The new Service Centre has a new modern design and is located in the banking precinct
of Narellan Town Centre.
The Narellan Service Centre offers the full range of Police Bank’s products and services. Our team includes
Service Centre Manager Adrian Towers, Supervisor Sarah Lockett, and Member Service Officers Wendy
Mathews and Jodie Heaton. Our qualified team can look after all of your financial needs, including:
• Personal loans, car loans, home loans
SOMERSET AVENUE
• Visa credit and debit cards
WE ARE HERE
• Savings accounts, term deposits
• Overseas transfers/foreign currency
• Insurance products and much more!
There is even a Dynamo area for kids and
grandkids to entertain themselves so you can
be free to deal with your banking needs.
Call or visit our Narellan Service Centre today:
Shop 311A - Narellan Town Centre
326 Camden Valley Way, Narellan NSW 2567
P | (02) 4640 7000 E/N | 88839 F | (02) 4620 0139 E | narellan@policebank.com.au
Opening Hours | Monday to Friday 9am to 5pm.
THE NORTHERN ROAD
OLD NORTHERN ROAD
CAMDEN VALLEY WAY
QUEEN STREET
ELYARD STREET
Wall to Wall: Ride for Remembrance
The Wall to Wall Ride for Remembrance is one of
the most anticipated events of the year for the Police
community.
Each year the event grows larger with this year being
no exception. This year’s ride was held on Saturday
16th September with over 2,300 motorcyclists
travelling from all across Australia.
It was an early start for those in Sydney, starting at
the Domain at 7am. The riders, who included Police
Bank’s CRO Rachel Perry and Directors Robert
Redfern and David Walton, made their way down
to the EPIC Exhibition Park in Canberra where our
team were ready to help keep the riders hydrated and
energised with a warm cup of coffee.
Chrissy Croker (Business Development Officer),
Chantelle Hayes (Goulburn Service Centre Manager),
Lindy Boulton (Goulburn Member Service Officer),
Megan Hourigan (Regional Manager South), Melissa
Young (Marketing Officer) and Wendy Manglemans
(Business Development Officer) were busy making
hundreds of coffees and raised over $630 for the ride.
After a quick rest the riders were back on their bikes
to head toward the National Police Memorial in
Canberra where the names of those who have fallen
have been engraved into the touchstone of the wall. A
short but poignant ceremony was held to remember
and honour those colleagues and mates who have
been killed in the line of duty.
Since the inaugural event in 2010, Wall to Wall has
raised over $680,000 which has been distributed to the
Police Legacies of each State and Territory throughout
Australia. The ride is not just about raising funds, it’s
also a great social event for Police Officers (sworn,
unsworn and retired) and their families, friends
and supporters of policing to come together with
motorcycle enthusiasts to promote safe riding for the
community.
It’s an incredible sight to see the large fleet of
motorcycles come together in solidarity and ride
together for this great event. Police Bank are proud to
be ongoing sponsors of the Wall to Wall event and look
forward to the 2018 ride.
4

How to keep your garden green during summer
While summer is an exciting time for pool parties and
backyard BBQs it can be a challenging season for
your garden. Along with water and soil management,
choosing the right plants can make enjoying your
garden during summer much easier.
A carefully maintained lawn and garden can mean
the difference between your plants barely surviving or
beautifully thriving in the summer heat.
Proper water and soil management during the
summer months means you can spend less time
watering and more time enjoying your garden.
Water and soil management
Whether you live in steamy tropical areas that receive
heavy summer rains or cooler, more temperate areas,
water management should be a priority. Adding a
wetting agent and organic mulch to the soil can help
protect your plants from drying out and can improve
the overall appearance of your garden beds.
Wetting agents help the soil to absorb and disperse
any water that falls on it more evenly and effectively.
Even if your garden receives large amounts of rainfall
during summer, the addition of a wetting agent can
help to ensure that the soil is able to absorb all of the
water that falls instead of remaining on the surface.
Soils with wetting agents are able to hold on to
moisture for longer, which may mean watering less
if you live in a drier climate while still being able to
enjoy a vibrant garden.
Organic mulches and fertilisers can also provide
essential nutrients and help to keep your plants from
drying out. Mulching reduces the amount of watering by
up to 60%, inhibits the growth of weeds and improves
overall plant and soil health. The type of mulch you
use, such as compost, old woodchips, hay or old lawn
clippings, can provide different textures and colours to
help liven up your garden.
Different varieties of organic mulch can help to create
beautiful garden beds, while protecting your plants
from drying out.
The right types of plants
As with water management, where you live will play
a deciding role in what types of plants you should
consider including in your lawn and garden. Durable
grasses, certain vegetables and robust flowers that
can withstand a range of weather and soil conditions
are good options to consider when planning your
summer garden.
Zoysia grass, Queensland Blue Couch and Buffalo
grass are three popular types of turf that grow well in
Australia and are fairly easy to maintain. Buffalo grass
usually requires periodic de-thatching (removing a
layer of clippings, roots and stems that form between
the base of the grass and the soil) and a bit more
shade than the other two varieties. The Zoysia and
Queensland Blue Couch require minimal mowing,
watering and fertilising.
Vegetables are superb options for a summer garden.
Sweet potatoes, corn and snake beans flourish in
hotter temperatures while cabbage and broccoli will
do well with some shade. For a bit of colour, pink
Dwarf Oleanders, pale blue Plumbagos and yellow
Clivias, Marigolds and Snapdragons are excellent
additions to almost any garden. Your local plant
nursery will be able to advise you about the plants that
will grow well in your area.
Summer garden checklist
Even if you have chosen low maintenance plants and
turf it is a good idea to tend to them on a regular basis
to check for problems such as dry spots or insect
infestations. Keep the following points in mind during
the summer months can help to give your garden
the best chance of staying picture perfect through to
autumn:
• Mow the lawn regularly to help reduce weeds and
prevent the grass from creeping into plant beds;
• Aerate your lawn to help circulate water and air
throughout the soil;
• Keep your lawn and garden beds free of weeds
and pests that can zap nutrients and cause
disease;
• Cover more delicate plants with a portable sun
umbrella or shade canopy to protect them from
the strong afternoon sun;
• Check on any water restrictions in your area that
prevent watering during certain times of day and
only water when your garden is looking like it
needs a drink.
Having a lush, colourful garden during the harsh
Australian summer doesn’t have to be difficult. With
proper planning and lots of TLC, your summer garden
can be the envy of the neighbourhood.
https://www.allianz.com.au/home-insurance/news/how-to-keep-yourgarden-green-during-summer
5

How to build an emergency savings fund
In the height of summer, it’s hard to imagine
ever having a rainy day. Yet as we all know, rain is
unpredictable and can catch us unaware just as we
leave home without an umbrella.
The same thinking applies to your finances. Most of
what we save and spend is planned on a day-to-day
basis, but out of the blue we can be hit with a huge
expense we haven’t accounted for, whether it be a
medical emergency rendering you unable to work, the
car breaking down or even the dishwasher going kaput.
An emergency savings fund is an essential part of
staying on top of your finances. It makes the difference
between sailing through the unexpected, or having to
borrow during a crisis. If you don’t yet have a savings
account of your own, here’s what you need to know
about starting and building your emergency fund.
Start small
According to the Australian Securities and Investment
Commission’s (ASIC) MoneySmart, 43% of Australians
aren’t regularly saving and so risk being caught offguard
by unexpected payments.
Small efforts add up to a lot. The idea of saving
isn’t to put large, intermittent chunks away, but to
steadily build them up throughout the year. By saving
manageable amounts you’re not putting your other
finances at risk, because you’re never putting away
more than you can manage.
How to build your emergency savings
Saving for a rainy day doesn’t have to be a chore. Here
are some quick and easy tips to help you kick-start
your emergency savings fund:
• Avoid impulse buying. We all are guilty of adding
something to the shopping bag we shouldn’t,
especially at the grocery store. Why not try going
online? Business Insider highlights that online
shopping has been responsible for a dramatic
drop in sales of things like sweets and gum -
unnecessary costs that are better off contributing
to your savings.
• Save spare change. Piggy banks aren’t just for kids.
MoneySmart recommends that if you regularly carry
cash, put the loose change leftover at the end of the
week in a collective receptacle and at the end of the
month deposit it into your savings.
• Plan a budget. With a full picture of your finances,
you’re more likely to spot holes in your savings.
The bonus is that by formalising a budget, you’re
more likely to stick to it.
• Use a savings account. By setting up an account
specifically for unexpected costs, you not only
know exactly how much money you have available,
you can also earn more on interest than a
transactional account.
• Automate your savings. To avoid the hassle of
manually putting money in an emergency fund,
set up automatic payments so you grow your
savings without having to remember to do so.
How much do I need to save?
The nature of unexpected costs is that you never know
exactly how much you’ll need when the situation
arises. Obviously, the more you have saved the more
secure you’ll be when disaster strikes, but experts
agree that a buffer of three to four months worth of
expenses (living costs, rent, mortgage, transport etc),
is a minimum amount to aim for.
Of the Australians who are actively contributing to
their savings, 33% are saving towards an emergency,
according to MoneySmart. At Police Bank, we’d like to
help you be adequately prepared for the unexpected.
To find out more about setting up an emergency
savings account, get in touch with our team today, call
131 728 or visit www.policebank.com.au
(www.customsbank.com.au for Customs Bank Members).
6

It's time you
DITCHED YOUR
MORTGAGE
and
SWIPED RIGHT
on a
REAL BANK!
Refinance your home loan
with Police Bank and
we’ll give you $1000!4
POLICE VALUE HOME LOAN 5
2 YEAR FIXED RATE
3.99 %
p.a.
VARIABLE RATE
4.04 %
p.a.
COMPARISON RATE 6
4.42 %
p.a.
GOLDRATE HOME LOAN 7
COMPARISON RATE 6
4.12 %
p.a.
PB
Police Bank Home Loan
53, Mutual Bank
4:20 PM
I’m a loyal, fun-loving bank who will
ALWAYS put you first. My friends describe
me as a true gentlebank: honest,
approachable and generous. I’m looking for
someone who is always up for competitive
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If you’re ready to start seeing a real bank
I’d love to meet up. I even have a $1000 gift
waiting for you! 4
Apply today. Visit www.policebank.com.au
(www.customsbank.com.au for Customs Bank Members)
7

Contact Us
PB Contact Centre
(General Enquiries)
25 Pelican Street, Surry Hills 2010
Phone: 131 728
Canberra Service Centre
Shop 2, 121 Marcus Clarke Street
Canberra ACT 2601
Phone: (02) 6206 7000
Gosford Service Centre
9-11 Mann Street, Gosford 2250
Phone: (02) 4320 0200
Goulburn Service Centre
c/- Police Academy
McDermott Drive, Goulburn 2580
Phone: (02) 4827 1000
Narellan Service Centre
Shop 311A - Narellan Town Centre
326 Camden Valley Way, Narellan 2567
Phone: (02) 4640 7000
Newcastle Service Centre
24 Bolton Street, Newcastle 2300
Phone: (02) 4908 6200
Norwest Service Centre
126/14 Lexington Drive, Bella Vista 2153
Phone: (02) 8814 3000
Parramatta Service Centre
20 Charles Street, Parramatta 2150
(Cnr Charles & Macquarie Street)
Phone: (02) 9841 8200
Penrith Service Centre
295 High Street, Penrith 2750
Phone: (02) 4720 5000
Port Macquarie Service Centre
6-14 Clarence Street,
Port Macquarie 2444
Phone: (02) 6582 9900
Sydney Service Centre
25 Pelican Street, Surry Hills 2010
Phone: (02) 8268 2500
Wollongong Service Centre
76 Market Street Wollongong 2500
Phone: (02) 4221 9000
Redidial 131 728 or
Eaglenet 88833
Website www.policebank.com.au
Email info@policebank.com.au
BSB 815 000
Customs Bank
Canberra Service Centre
Lobby, Customs House,
5 Constitution Avenue, Canberra ACT 2601
Phone: (02) 6243 8900
Mascot Service Centre
Ground Floor, Customs House,
10 Cooks River Drive,
Sydney International Airport NSW 2020
Phone: (02) 8335 4200
Melbourne Service Centre
Level 1, 1010 Latrobe Street,
Melbourne Docklands VIC 3008
Phone: (03) 9642 1003
Phone 131 728
Website www.customsbank.com.au
Email info@customsbank.com.au
BSB 815 000
CITY OFFICE
Level 3, 213 Clarence St,
Sydney NSW 2000
Phone (02) 9235 2399
TORONTO OFFICE
Suite 2, 108 The Boulevarde,
Toronto NSW 2280
Phone (02) 4950 5411
WILLIAMS & RONCOLATO
LAWYERS
Accredited Specialist Property Lawyers
GLADESVILLE OFFICE
Suite 13, 210 Victoria Road,
Gladesville NSW 2111
Phone (02) 9879 6133
CONTACT DETAILS
Email: paul@wrlegal.com.au
Website: www.wrlegal.com.au
PROUDLY PROVIDING LEGAL SERVICES TO POLICE AND FAMILIES FOR OVER 30 YEARS
Important Information
If you do not want to receive any marketing material then please telephone 131 728 to advise us. Please note that when you call and opt
out we will alter our records so that you only receive material we are required to send you by law or our constitution. The product issuer for
deposit and payment products is Police Bank Ltd, AFSL/Australian Credit Licence No 240018. A Financial Services Guide (FSG) including
terms and conditions is available at all Service Centres, on our website and upon request. Any advice given has not taken into account your
personal needs and financial circumstances and you should consider whether it is appropriate for you. Please read and consider the FSG
in deciding whether to use a particular product. Police Bank Ltd. ABN 95 087 650 799. 25 Pelican Street, Surry Hills, NSW 2010. Customs
Bank is a division of Police Bank Ltd. All terms and conditions that apply to Police Bank also apply to Customs Bank.
Effective Date: 1/11/17. Terms and conditions apply and are available on request. Fees, charges and lending criteria apply. Interest rates are
current as at 17/10/17 and are subject to change. 1. Bridges Financial Services Pty Limited (Bridges). ABN 60 003 474 977. ASX Participant.
AFSL No 240837. This is general advice only and does not take into account your objectives, financial situation and needs. Before acting
on this advice, you should consult a financial planner. In referring members to Bridges, Police Bank Ltd. does not accept responsibility for
any acts, omissions or advice of Bridges and its authorised representatives. Terms and conditions apply and are available on our website.
Fees and charges and lending criteria apply. 2. This offer is only available to the first 100 approved Police Bank & Customs Bank Visa
Credit Card applications who apply and are approved between 19/10/17-30/11/17. You will receive your Garmin Vivosmart HR Fitness
Watch (or similar product) within 2 weeks of your application being approved. Not available for employees of Police Bank or Customs Bank.
3. 0% p.a. is applied to the Police Bank Visa Credit Card only if the card account being transferred is paid out in full and cancelled. Minimum
balance transfer per card is $500.00. We reserve the right to withdraw this offer at any time. Interest rate on remaining balance will revert
to our standard variable Visa Credit Card rate, currently 10.76% p.a. 4. Minimum loan amount is $50,000. Members current home loan
with competitor must be fully discharged and refinanced with Police Bank. $1000 will be credited to your S1 account on settlement. Not
available for investment loans. Maximum bonus payment is $1000 for each household that is approved for a refinance. We reserve the right
to withdraw this offer at any time. 5. Police Value Home Loan only available to current serving Police Officers or a Retired Police Officer(s)
who are a member of a Union that is associated with the Police Federation of Australia. This includes NSW Police Association (including
Associate members), and the Australian Federal Police Association. Customs Value Home Loan only available to current employees of
Australian Customs and Border Protection Services and Australian Quarantine Inspection Services. Rate discounted against Premium
Home Loan. 6. The comparison rate is based on a loan of $150,000 over a 25 year term. WARNING: This comparison rate is true only for the
examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison
rate. 7. To be eligible for the Goldrate Home Loan, you must have a Police Bank Visa Credit Card with a minimum approved limit of $2500,
an S8 Online SuperSaver Account and whole of pay to Police Bank prior to loan funding. Minimum loan amount is $50,000. Existing Police
Bank borrowers must borrow minimum $50,000 additional funds to be eligible. Investment real estate lending is not available.
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