BankVic Annual Report 2019
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Chair<br />
Message<br />
Delivering on our<br />
vision to be the most<br />
trusted financial<br />
institution for our<br />
members, is our<br />
priority.<br />
On behalf of the Board, I am pleased<br />
to present the <strong>2019</strong> <strong>Annual</strong> <strong>Report</strong>.<br />
When we began in 1974 as the Police<br />
Association Credit Co-op, our purpose<br />
was to help police officers get a better<br />
deal from their bank. Fast forward<br />
45 years and this is only going from<br />
strength to strength; we have been<br />
strategically reconnecting with our<br />
heartland in Police and establishing<br />
strong relationships with our bonds in<br />
Health and Emergency Services.<br />
This year, <strong>BankVic</strong> reached milestones<br />
that go beyond the financial industry<br />
standard. We saw increases in<br />
membership and above market<br />
growth in home lending that helped<br />
us achieve a record high asset position<br />
of over $2 Billion. We also received<br />
the bank’s first ever Credit Rating<br />
and welcomed two Board Appointed<br />
Directors in Michael Liu and Faith<br />
Page strengthening the overall<br />
experience, expertise and diversity of<br />
the Board.<br />
The financial services landscape has<br />
changed dramatically over the last<br />
12 months as a result of the Banking<br />
Royal Commission. <strong>BankVic</strong> has<br />
closely followed these developments<br />
and will continue to ensure our<br />
members have confidence that<br />
<strong>BankVic</strong> are a trustworthy, strong and<br />
sustainable choice to guide them<br />
towards the financial future their hard<br />
work deserves.<br />
Looking forward, we recognise<br />
the significance that mental health<br />
and wellbeing plays in the lives of<br />
our Police, Health and Emergency<br />
Services members. Research shows<br />
that financial issues and mental health<br />
problems often go hand-in-hand.<br />
<strong>BankVic</strong> are committed to continuing<br />
to work with our agency partners who<br />
are already working hard in this area,<br />
to support their efforts.<br />
<strong>BankVic</strong> acknowledges and welcomes<br />
diverse perspectives. We currently<br />
have an equal gender ratio in<br />
our senior leadership (Board and<br />
Executives) and are excited to be<br />
working towards broadening our<br />
understanding of true diversity<br />
and inclusion.<br />
As we continue to grow, it is important<br />
to reiterate that all profits from<br />
<strong>BankVic</strong>’s success are channeled<br />
back to members. This is through our<br />
competitive product offerings, high<br />
standard of personalised service and<br />
supporting organisations that support<br />
our members.<br />
Our strategy moving forward is<br />
simple; to provide great products and<br />
services, to increase our membership<br />
in the health and emergency services<br />
sector, to be a genuine partner to our<br />
bond agencies and to ensure that<br />
our growth is financially sound and<br />
sustainable. To our wonderful and<br />
committed staff, we want to remain an<br />
employer of choice.<br />
It has been a wonderful privilege to<br />
serve my first year as Chair at <strong>BankVic</strong>.<br />
I would like to thank my fellow<br />
Directors, our CEO Anthony De Fazio<br />
and the Executive Team for all your<br />
support in what has been, another<br />
successful year.<br />
And to our valued members, we exist<br />
to serve you. Without you, there is no<br />
<strong>BankVic</strong>, so thank you for continuing<br />
to allow us to be part of<br />
your community.<br />
Marianne Luttick<br />
Chair<br />
4 | BANKVIC // ANNUAL REPORT <strong>2019</strong>
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