In the News: 2004 Archive
30 Dec 2004 - Perm Pledges $20,000 to Tsunami Appeal
The Newcastle Permanent Building Society announced today that it was launching a fund raising appeal for victims of the South East Asian earthquake and subsequent tsunami.
The Society has opened the appeal with a donation of $20,000 and will also match dollar for dollar all donations made by its staff.
All funds raised through the appeal will be donated to the Red Cross's Quake and Tsunami Appeal.
In pledging the Society's donations, Newcastle Permanent Chief Executive Officer, Mr Fraser Read-Smith said that the unprecedented scale of the disaster was just beginning to be fully realised and he appealed to the region's people to demonstrate their comparison and humanity by supporting the appeal.
"People in this region are only too aware of the devastating emotional and social impacts that an earthquake can have.
"For the people of South East Asia, many of whom have lost not only their material belongings, but also family, friends and social support network, the effects are indescribable.
"Apart from emotional support, the next most obvious need is for funds to support the relief efforts of the aid agencies, and in the longer term, funding to help rebuild communities and countries.
Donations can be made to the appeal at any branch of the Newcastle Permanent.
06 Dec 2004 - Salvation Army Appeal Reflects the True Spirit of Xmas
Each year the Salvation Army's Xmas Appeal helps to ensure that the joy of Christmas is shared by as many people in our region as possible.
The 2004 Appeal opened on 1 December and The Salvation Army has asked the people of the Hunter to again show their true community and Christmas spirit lend by contributing to the Appeal.
Manager of the Salvation Army Community Services, Newcastle Branch, Howard Mole, says that demand for their support services is steadily increasing and it is becoming much harder to provide quality assistance for all.
For the Christmas Appeal, any donations are always welcome, but Howard says that non-perishable items and gifts suitable for mums and dads are always their greatest need.
"The people of the Hunter are always very generous in their support of our appeal, and we receive many gifts suitable for younger children. We ask that they might also consider donating a gift suitable for older children (8 years and up) plus mums or dads.
"It doesn't have to be a large gift - as we all know, the most important thing about Christmas gifts is the thought - and for children to have a surprise for mum or dad can really help to make their day a special one. It also helps to reinforce the importance of the family."
"Non-perishable food donations are also welcome as they represent another element of the Christmas experience and allow us to make Christmas dinner a reality for these people.
"The Newcastle Permanent is again generously supporting our appeal. Gifts and cash donations can be made at any of their branches, and we have a policy of ensuring that the donations collected at a particular area are distributed to people in need from that particular area."
All Newcastle Permanent branches will also be collection points for food donations.
23 Nov 2004 - 2005 Newcastle Permanent Steel Magnolia Award Nominations
Lifeline Newcastle and Hunter are calling for nominations for the 2005 Newcastle Permanent Steel Magnolia Awards. The Award will honour one local woman of greatness who has displayed courage in the face of adversity and in doing so has improved the well being of others. Nominations are open to residents of the Newcastle and Hunter areas.
27 Oct 2004 - Newcastle Permanent expands Central Coast network
Newcastle Permanent Building Society has expanded its branch network with the opening of a new full branch at Wyoming.
Located in the Wyoming Shopping Centre the branch will provide the local community with over the counter financial products and services including loans, insurance and investment products, plus the convenience of day to day financial services.
Newcastle Permanent Chief Executive Officer, Fraser Read-Smith, said the Central Coast was one of the State's most dynamic regions, and demand for our services from individuals and businesses in the Wyoming area is strong.
"This will be our fifth full branch on the Central Coast and we are confident that the Wyoming community will appreciate the quality of products and services that the Newcastle Permanent offers.
"In spite of the development of electronic options for financial transactions, people still appreciate being able to visit a branch to conduct their business.
"The Newcastle Permanent is committed to ensuring that this option is available, and Wyoming brings our total number of branches on the Central Coast and in the Hunter to 40.
"We also have a strong commitment to supporting the local community in which it operates. We look forward to building strong associations with the people of the Wyoming area, and to becoming their financial services provider of choice."
19 Oct 2004 - Newcastle Permanent appoints new Chairman
The Board of the Newcastle Permanent has appointed Mr Michael McDonald as its new Chairman.
Mr McDonald, previously the Deputy Chairman, succeeds Mr Barrie Lewis who remains on the Board.
A solicitor and Managing Director of McDonald Legal, Mr McDonald has practised extensively in property, commercial and banking law for over 30 years. He first joined the Board of the Newcastle Permanent in 1999.
Mr McDonald paid tribute to Mr Lewis for his dedication and application to the Chairman's role.
"On behalf of my fellow Board members and the Society I thank Barrie for the tireless service he has given as Chairman over the past four years. He has been instrumental in cementing our financial strength and the model for further growth of the Society.
"Importantly he has continued to champion the values that have become synonymous with the Newcastle Permanent's name in the markets that we serve.
"I look forward to building on these solid foundations and to overseeing a period of growth and organic development," Mr McDonald said.
Mr Michael Slater, who was appointed to the Board in 2002, will be the new Deputy Chairman.
15 Oct 2004 - Newcastle Permanent set to build on strong performance
Newcastle Permanent building society announced its eighth successive year of profit growth, with a record $33.8 million result for the year ending 30 June, 2004.
Chief Executive Officer, Fraser Read-Smith, commented that the Newcastle Permanent Building Society also recorded strong results in lending, deposits and asset growth for the 2003/2004 financial year, reinforcing the Society's position as the financially strongest building society in Australia.
"As well as significant growth in lending and deposits, our assets increased by over 23% to stand at $3.6billion at the close of the financial year. This makes the Society the largest Australian building society measured by assets on balance sheet, and is a significant achievement for a regionally based mutual.
"While the balance sheet provides an insight into the soundness of the Society, our true strength lies in the support that we receive from our members and we return that support in tangible ways."
"Another highlight for 2003/04 was the $40.9 million generated by the Society in benefits for members and customers in the form of better interest rates on deposits and loans, lower fees and charges and extensive community support.
"We call this the 'mutuality dividend' that comprises in the value that our members and customers receive through their association with the Newcastle Permanent. More than half of the economic value generated by the Society was made directly available to members and customers in the form of the "mutuality dividend" in the 2003/2004 financial year."
In speaking to the results, which were announced at the Society's annual general meeting held today, Chief Executive Officer, Fraser Read-Smith also said that the Newcastle Permanent was well placed for future growth.
"The Society's financial strength is reflected in the recent news that independent rating agency, Standard and Poor's, had assigned an investment grade 'BBB/A2' credit rating to the Newcastle Permanent, a rating which is on a par with that of a number of the larger regional banks and the best for any building society.
"The quality of the Newcastle Permanent's lending products has also been recognised nationally in Personal Investor magazine's Awards for Excellence in Financial Services, and by Mortgage Choice magazine in their annual assessment of mortgage products.
"The Society is now well positioned to build on its strengths and to play an increasingly important role in the economic development and growth of our core area of operation, the Hunter and Central Coast which also continue to be two of Australia's most dynamic regions," Mr Read-Smith said.
12 Oct 2004 - Newcastle Permanent assigned investment grade Credit Rating
The Newcastle Permanent Building Society has been assigned a 'BBB' long term and 'A2' short term credit rating by the world's leading independent credit rating agency, Standard & Poor's Ratings Services.
The rating was determined by an assessment of the Newcastle Permanent's financial profile, its asset quality, level of capitalisation and profitability.
Chief Executive, Fraser Read-Smith, said that this was a great result for the Newcastle Permanent, putting the organisation on a par with a number of much bigger financial institutions.
"This clearly confirms Newcastle Permanent as Australia's leading building society and reinforces the high standing in which the Society is held, both in this region and in wider markets."
"In assigning the rating to the Perm, Standard and Poor's noted that Newcastle Permanent's capitalisation is strong and that its asset quality is very good, and that they expect this situation to continue in the long term.
"This is a testament to the sound prudential management which has been a feature of Newcastle Permanent's operations for many years, as well as the strength of our market position.
"The rating means that the Newcastle Permanent is now able to pursue a number of options in diversifying its funding base, and in achieving future growth targets," Mr Read-Smith said.
For further information contact Mike Hamonet on 4952 2986 or 0413 445 483.
27 Sept 2004 - Race for Research
Newcastle Permanent is pleased to be associated with The 2004 Race for Research.
This 5km fun run/walk is for both the serious athlete as well as for beginners and families. It is a non-profit event in support of the Breast Cancer Institute of Australia to raise awareness, promote early detection and advance research for Breast Cancer.
The race is on at 9am Sunday October 24th, 2004 and will start and finish at the Foreshore Railway Common Area & Playground in the park off Wharf Road near Customs House.
09 Sept 2004 - Newcastle Permanent Comes To Clarence Town
Newcastle Permanent Building Society has opened its first mini-branch in Clarence Town.
Located in the new Rural Transaction Centre (RTC), the mini-branch will offer the local community the financial products and services they need - from loans to savings accounts, from insurances to investment.
According to Newcastle Permanent Chief Executive Officer Fraser Read- Smith "the Clarence Town area has been growing strongly in recent years and until now, our customers have had to travel to Raymond Terrace for financial services. Launching this mini-branch will enable us to better service our customers and potential customers in the area."
"The mini-branch concept is new for Newcastle Permanent but has proven to be successful formula for other financial institutions seeking to provide services to smaller towns."
The Rural Transaction Centre houses NPBS, Health services provided by Hunter Health, Internet facilities, Medicare and many other services for the area. The Post Office will be moving into the RTC as well and the Post Office Manager, Helena Morris, will manage the mini-branch and the activities in the RTC.
"Helena and her team have been fully trained and are locals who understand local issues. They will provide the community focus and friendly staff that Newcastle Permanent is famous for".
"The Association members, headed by President, Mark Butler, must be commended for their dedication and enthusiasm in getting the RTC project off the ground. They worked tirelessly in securing the government funding for the RTC, which was announced by local member, Bob Baldwin, in June 2004."
The branch will be officially opened at 11am on 11 September by Bob Baldwin (Local Member of Parliament) and a member of the Newcastle Permanent Executive team.
Mini-branch opening hours are the same as all other branches.
27 Aug 2004 - Newcastle Permanent a star performer in finance industry "Olympics"
The Newcastle Permanent Building Society has again achieved national recognition for the quality of its products and service with a string of awards in the annual Personal Investor Magazine Awards for Excellence in Financial Services.
In what could be described as the Australian finance industry's equivalent of the Olympics, the Newcastle Permanent has been judged one of Australia's top three financial institutions in a number of categories, including Home Lender of the Year.
The Society is the only Hunter-based financial institution to receive an award.
The Society's top three finishes included:
- Bronze in the Home Lender category with ANZ (gold) and St George Bank(silver)
- Bronze in the Fixed Home Loans category with ANZ (gold) and Yes Home Loans (silver)
- Silver in the Business Transaction Account category with Commonwealth Bank (gold) and St George (bronze)
The Newcastle Permanent was also judged among the top three Building Societies, beside Heritage Building Society in Queensland and IMB.
The Society's Chief Executive Officer, Mr Fraser-Read Smith, said the Newcastle Permanent was delighted that its commitment to delivering high-quality products and service was now achieving recognition throughout the industry.
"We have always put the interests of our customers first by delivering products that are not just affordable, but also make people's lives easier," Mr Read-Smith said.
"I'm particularly delighted by these latest awards because they provide tangible proof that our people and our products are up there with the best in Australia."The Personal Investor awards follow recognition in the same publication for the quality of the Newcastle Permanent's REAL DEAL Home Loan, which has been listed as one of the top mortgage products in Australia every month since July 2003.
A number of the society's home loan products had been judged among the top 10 in Australia earlier this year in a national survey of Building Societies and Credit Unions undertaken by Your Mortgage magazine.
27 Aug 2004 - Junior Knight recognised for his community spirit
Newcastle Knights junior representative player Tyne Owen from Cameron Park has been named the inaugural recipient of the Newcastle Permanent Knights Community Spirit Award announced last night at the annual Knights Junior presentation at Wests Leagues Club.
The award, part of by the Newcastle Permanent's sponsorship of the Knights Junior Development Program, aims to encourage those players who participate in activities that serve the community.
A member of the Knights Harold Matthews squad, 16-year-old Tyne received the award for his involvement in a mentoring program for children with behavioural problems.
The Department of Education program, run in conjunction with Rutherford High School, provides mentors and role models for children with behavioural problems to help them improve their social skills and ability to interact with the public.
Tyne's role in the program saw him accompany a number of children on outings outside school hours.
As the winner of the inaugural award Tyne received a trophy and a $500 account from the Newcastle Permanent.
Mr Fraser Read-Smith, Chief Executive Officer of the Newcastle Permanent, said the award embraced the organisation's core philosophy of commitment to the community and building the future of our region.
"This award aims to recognise young people who are actively involved in programs and activities that make a contribution to improving the quality of life for people across our region," Mr Read-Smith said.
"We don't often hear about the good work our young people do in the community. I hope this award not only provides recognition, but also encourages others to become more actively involved in these types of initiatives."
Knights Coaching and Development Manager Warren Smiles said the award provided young rugby league players with a sense of balance in their lives.
"Beyond providing our young athletes with elite sporting programs, we try to encourage these players to improve themselves in areas outside of football," he said.
"While we naturally think of tertiary training and studies, awards such as this are encouraging our players to think about ways in which they can make a contribution to a community that gives our club such wholehearted support."
12 Aug 2004 - Newcastle Permanent announces major community support initiative
The Hunter and Central Coast regions have been delivered a major philanthropic initiative by the Newcastle Permanent Building Society.
Known as the Newcastle Permanent Charitable Foundation, the initiative which was launched today by the Premier, Mr Bob Carr, is set to deliver major benefits to the region's communities for many years.
Newcastle Permanent will provide the Foundation with seed funding of $20 million over the next five years . These funds will be used to provide up to $1million each year for distribution in the form of grants to initiatives, projects and organisations that give support for the community.
Premier Carr praised the Society for its vision, and its demonstrable contribution to corporate citizenship.
"The Foundation concept is a marvellous idea, and a significant first for these regions.
"It defines in its simplicity and generosity the true essence of corporate citizenship and community responsibility.
"I applaud the Newcastle Permanent for its vision and generosity, and for the very real benefits that this will deliver for the people of our great NSW regions," Mr Carr said.
Speaking at the launch the Newcastle Permanent and Charitable Foundation Chairman, Mr Barrie Lewis, said that the Foundation was a symbol of the principles of mutuality that the Society was founded on and that have remained at the core of its operational philosophy.
"In our 100th year of operation it is fitting that we should be launching this initiative.
"The Foundation's goal is to provide a means to extend the already considerable contribution that the Newcastle Permanent makes to the regions' communities.
"It is hoped that as awareness of the Foundation and its role spreads, it will also be a catalyst for the development of ideas and proposals that will provide genuine and long-term benefits for our community - the sort of benefits that will add to the quality of life enjoyed by all the people of the Hunter and Central Coast Regions, now and for many years to come," Mr Lewis said.
Beneficiaries of the initial distribution from the Newcastle Permanent Charitable Foundation are:
- Hunter & Wyong Breast Screen: Refurbishment of two community owned Mobile Screening Units.
- Palliative Care Mater Mercy Hospice & Outreach Services: Support for carers through hire/purchase of specialised equipment used in palliative care service delivery.
- Police & Community Youth Clubs: Newcastle, Lake Macquarie and Umina - development of specific early intervention programs targeted at Priority One offenders - young people identified as responsible for the majority of crime within a particular community.
- Life Education NSW: Funding development and implementation of pilot programs for Secondary Schools to promote the Drug Education and Healthy lifestyle messages.
- Hunter Melanoma Foundation: To develop and implement an awareness campaign & appropriate outdoor signage promoting Melanoma prevention and early detection messages.