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26 August2008 - 16,000 primary school children to participate in annual maths competition
The 28th annual Newcastle Permanent Primary Mathematics Competition is being held on Wednesday, 27 August 2008.
This year, more than 16,000 Years 5 and 6 students from 267 schools in the Hunter, Central Coast and Northern Regions will undertake the exam. This is the largest exam of its type outside of the NSW Department of Education and Training’s Basic Skills Test.
Newcastle Permanent, Acting CEO, Terry Millet said, "It is very encouraging to see the number of students participating this year. In 1981,when we first sponsored the event, there were just 2,337 student participants and the competition was held in the Hunter region only. It is tremendous to see the competition going from strength to strength over that time."
"Numeric literacy is a fundamental skill, and by sponsoring this competition, we are seeking to make a contribution to the improvement of mathemtaics education at the primary school level."
The exam consists of 35 questions. Students have 45 minutes to complete the exam and are not able to use calculators, rulers or geometrical instruments.
22 August2008 - Newcastle Permanent wins prestigious AFR Smart Investor Award
The Australian Financial Review – Smart Investor Blue Ribbon Awards, has named Newcastle Permanent Building Society of the Year for 2008.
This award complements Money Magazine's selection of Newcastle Permanent as Building Society of the Year for the second time this year.
Newcastle Permanent acting CEO, Terry Millett, said the award is an acknowledgement of the high quality products, competitive pricing and exceptional service delivered to Newcastle Permanent's members.
"Our broad range of products delivers significant benefit to our members in terms of better interest rates, lower fees and market leading features, which enabled us to rise above the other contenders. The judges made particular mention of our fixed interest rate home loans, credit card, personal loans and deposit products as major factors in winning the award."
"We see evidence every day that people are looking for an alternative to the mainstream banks which is big enough to meet all of their financial needs, offers excellent value and is genuinely committed to reinvesting back into local communities. Receiving this award supports our belief that a regionally based mutual organisation can deliver products and services to match or better any financial institution in Australia."
"We have all the personal banking options offered by the mainstream banks and they are delivered with our unique style of friendly, professional service. The AFR Smart Investor Blue Ribbon Award is a testament to our excellence in member service, which is the result of the commitment of our staff and something of which we are very proud," concluded Mr Millett.
Newcastle Permanent offers more 5-star rated home loans than any other bank, building society or credit union in Australia. Newcastle Permanent also offers a 5-star rated credit card.
The Australian Financial Review – Smart Investor Blue Ribbon Awards have been conducted for eight years, the integrity of these peer judged awards is enhanced by the involvement of Infochoice, Morningstar & Rice Warner in the decision making process.
4 August2008 - Wollongbar Community Preschool ready to have safe fun in the sun
Wollongbar's Community Preschool will be prepared for the coming summer thanks to the support of Newcastle Permanent's Charitable Foundation.
On behalf of the Charitable Foundation, Newcastle Permanent Community Lending Manager, Paul Donahue, presented a cheque for $8,700 to president of the Preschool's management committee, Gretchen Mercer.
The money will be used to build a shade shelter and fund a sun-safety awareness program.
"The announcement of this donation couldn't have come at a better time. We were struggling to fund some of our programs and raise money to pay for the sun shade so the news was absolutely wonderful," Mrs Mercer said.
"We will now be able to use our fund raising money to purchase new equipment for the children and carrying out some maintenance on the building," she said.
The sunshades will cover the swings and climbing equipment making the area a safe part of the yard in which the children can play in all year round.
"I know the Preschool is well thought of in the Wollongbar community and we are delighted to be able to assist it making it sun safe,” Chairman of the Newcastle Permanent Charitable Foundation", Michael Slater said.
"Having recently opened branches of the Building Society in Lismore and Ballina the Newcastle Permanent Charitable Foundation is committed to supporting the Northern Rivers community and we are actively pursuing opportunities to support local charities in this region."
"The Newcastle Permanent Charitable Foundation recently held a workshop in Ballina where 50 local charitable organisations learnt about the aims of the Foundation and the criteria for funding. We encourage local charitable organisations who need funding for community projects to visit our website and find out how they can access funding through the Foundation. The next round of funding from the Foundation closes on 15 August 2008," Mr Slater said.
23 July2008 - Surf Life Saving Far North Coast secures Newcastle Permanent as major sponsor
Newcastle Permanent has strengthened its commitment to Surf Life Saving in NSW with the announcement of its sponsorship support for Surf Life Saving Far North Coast (SLSFNC).
The announcement was formalised during today's opening of Newcastle Permanent's Ballina branch in River Street, which complements the opening of the organisations a new branch in Lismore branch last week.
Newcastle Permanent will commit $22,000 for the 2008/2009 surf life saving season.
"This is our first major sponsor in the history of the organisation and we are thrilled to have Newcastle Permanent's support," said Surf Life Saving Far North Coast Branch President, John Beasley.
"This funding will allow the branch to move to a new level of professionalism and assist in growing and developing the future of our organisation, with a focus on enhancing the skills of our members through conferences and youth development programs."
"Ultimately this sponsorship will ensure we are able to continue to provide our vital role of saving lives on Far North Coast beaches," said Mr Beasley.
At today's announcement, Newcastle Permanent acting CEO, Terry Millett acknowledged the impressive reputation of SLSFNC and the broad community support surf lifesaving enjoys in the Far North Coast.
"With 4,400 members, including 990 active lifesavers and 1,250 junior lifesavers Far North Coast Surf Life Saving plays a significant and important role in protecting the local community and we are delighted to be able to assist them in achieving this."
"Newcastle Permanent has a long history of supporting the Surf Life Saving movement, with our support for the Far North Coast branch, we are now the major sponsor of every surf lifesaving branch from the Central Coast to the Queensland border."
"We look forward to developing a strong relationship with the members of Far North Coast branch and supporting their ongoing service to visitors and residents of the Far North Coast," said Mr Millett.
21 July2008 - Newcastle Permanent CEO departs
Newcastle Permanent Building Society announced today that its Chief Executive Officer, Mr Stephen Porges, had stepped aside from his position.
The Chairman of Newcastle Permanent, Mr Michael Slater, said Mr Porges had sought a release from his contract for personal reasons and that the Board had agreed to his request.
Mr Porges thanked the Board for the opportunity of having acted as Chief Executive Officer of Newcastle Permanent Building Society and wished the Board and management well. He expressed confidence that the Society was well represented with a strong management team and Board of Directors.
Mr Porges' resignation is effective as of 18 July.
Mr Slater said the position would be filled in the interim by Mr Terry Millett, currently Chief Member Officer.
17 July2008 - A new financial choice … Newcastle Permanent opens in Lismore
Lismore residents now have more choice for their financial needs, with today's opening of Newcastle Permanent's Lismore Branch.
Newcastle Permanent is a complete retail financial services provider offering a genuine alternative to traditional banks for personal and business banking needs.
For more than 100 years, Newcastle Permanent has been providing a range of products which deliver superior value to members in terms of better interest rates, low fees and market leading features.
At the official cake cutting to mark the branch opening, Newcastle Permanent Chief Member Officer, Terry Millett, thanked Mayor Mervyn King for joining in the celebrations.
"Today is an exciting day, I want to thank the Mayor for his warm welcome and for being part of the celebrations as we open our 54th branch. Our staff members –including Branch Manager Andrew Virtue and Lending Manager Paul Donohue – are local people and they are looking forward to providing the customer service Newcastle Permanent is renowned for."
"Our Lismore members will have access to an alternative to the mainstream banks which is big enough to meet all of their financial needs and is genuinely committed to reinvesting their success back into local communities rather than the pockets of their shareholders," said Mr Millett.
Newcastle Permanent offers more 5-star rated home loans than any other bank, building society or credit union in Australia, as well as a 5-star rated credit card and a highly competitive range of deposit products.
The Newcastle Permanent Branch is located at 152 Molesworth Street and will be staffed by a Branch Manager, Community Lending Manager and four branch staff.
2 July2008 - Newcastle Permanent to increase rates
Newcastle Permanent Building Society has today announced an increase in its variable home loan mortgage rate by 0.1 percent with new repayments taking effect from 01 August 2008.
This rate rise will mean an increase in repayments of approximately $7 per month, per $100,000 of a loan taken over 25 years.
Chief Executive Officer, Stephen Porges, said the ongoing uncertainty in the global economic market is impacting on all financial institutions.
"Being member focussed Newcastle Permanent has and will continue to keep variable loan interest rate increases to the absolute minimum. Prior to this latest change, we have passed on less of the increase in costs to our members than any other major bank or building society this year. After this change, our variable rate loans will remain very competitive against the major banks, credit unions and building societies."
"As a mutual organisation we need to ensure an equitable spread of costs across our member base. The increase in our lending rates must reflect the combination of increasing costs of wholesale funds and the need to offer highly competitive retail deposit rates."
"Newcastle Permanent remains extremely competitive and will continue to offer excellent service and high quality products such as our award winning Real Deal home loan," Mr Porges said.
27 June2008 - Newcastle Permanent kicks a goal for New England Football
Newcastle Permanent Building Society is proud to announce its sponsorship for Northern NSW Football.
The Sponsorship will be of particular benefit to Northern Inland Football which covers the Armidale and Tamworth districts.
Newcastle Permanent has committed $16,500 which will be used to purchase a range of training and educational balls along with other equipment that will assist in the development of football at grass roots levels.
Northern NSW football CEO, Gary Screen, believes Newcastle Permanent and Northern NSW Football share many similarities.
"We are looking forward to the new association with Newcastle Permanent and with this financial support we will be able to continue to attract new registered players in both junior and senior level and continue to expand our individual activities.
"Newcastle Permanent is a highly regarded corporate citizen in the Hunter and we look forward to working with them as they expand their operations in Northern NSW," said Mr. Screen.
Newcastle Permanent has been on the front-foot lately opening branches in Armidale and Tamworth.
"We have a commitment to the communities we operate in and we believe supporting Northern NSW Football and the thousands of young families involved in football in the New England, in particular Northern Inland Football is a worthwhile cause," said Newcastle Permanent CEO, Stephen Porges.
"Northern NSW Football has more than 49,000 players across all age groups, they are a professionally run organisation and we are delighted to be able to support them."
"Football is growing in popularity with young people across Australia and if we can assist in that growth, there by providing additional resources and encouraging young people to live a happy, healthy and positive life all the better," added Mr. Porges.
26 June2008 - A new financial choice … Newcastle Permanent opens in Armidale
Armidale residents now have more choice for their financial needs, with today's opening of Newcastle Permanent's Armidale Branch.
Newcastle Permanent is a complete retail financial services provider offering a genuine alternative to traditional banks for personal and business banking needs.
For more than 100 years, Newcastle Permanent has been providing a range of products which deliver superior value to members in terms of better interest rates, low fees and market leading features.
At the official cake cutting to mark the branch opening, Newcastle Permanent CEO, Stephen Porges, thanked Mayor Peter Ducat for joining in the celebrations.
"Today is an exciting day, I want to thank the Mayor for his warm welcome and for being part of the celebrations as we open our 53rd branch. Our staff members –including Branch Manager Christine Maunder and Lending Manager Robyn Donnelly – are local people and they are looking forward to providing the customer service Newcastle Permanent is renowned for."
"Our Armidale members will have access to an alternative to the mainstream banks which is big enough to meet all of their financial needs and is genuinely committed to reinvesting their success back into local communities rather than the pockets of their shareholders," said Mr Porges.
Newcastle Permanent offers more 5-star rated home loans than any other bank, building society or credit union in Australia, as well as a 5-star rated credit card and a highly competitive range of deposit products.
The Newcastle Permanent Branch is located at 111 Dangar Street and will be staffed by a Branch Manager, Community Lending Manager and four branch staff.
11 June2008 - $1million donation boosts Hunter and Central Coast SES Units
The Regional Relief Fund, established by Newcastle Permanent after the June 2007 long weekend storm, provided $1.2 million to Hunter and Central Coast SES units to significantly increase their operational capability to deal with future emergencies.
In total, $4.5 million was raised through the Regional Relief Fund with local charities such as The Samaritans, St Vincent de Paul and The Salvation Army sharing in more than $2 million dollars to help people and families affected by the storms and flooding.
In addition, 10 Hunter SES units were each given $100,000 to be used for the purchase of equipment or upgrading operational facilities. Gosford and Wyong SES units also received $100,000 each.
SES Hunter Region Controller, Greg Perry, said, this vital funding had been distributed to each of the units to be deployed on a needs and operational basis.
The items purchased include a new 4.7 metre rescue boat for Maitland SES, complete with all safety accessories, motor and trailer. A new fully equipped four-wheel drive response vehicle has been bought for Murrurundi, while Muswellbrook SES will use the funding to purchase a specialised rescue/storm response vehicle.
"The funding has also allowed us to refurbish buildings and update operational and training equipment and facilities to increase our ability to respond to, and manage, emergencies across the Hunter and Central Coast regions," said Mr Perry.
"We have added a further 12 computers and data lines to the Hunter region headquarters. This has now greatly increased our capacity to take calls right across the Hunter and the state. The upgrade means the Hunter has the most capable call centre in NSW. We will also be able to assist our state HQ by acting as an overflow for emergency calls."
"Receiving this money has also delivered a morale boost for our volunteers because we can purchase and replace items that otherwise we couldn't afford," added Mr Perry.
Newcastle Permanent Chairman, Michael Slater, said the work undertaken by SES volunteers during last year's storm was immense.
"We felt it was only fitting to recognise the dedication and hard work regularly displayed by the men and women of the Hunter and Central Coast SES units," said Mr Slater.
"This funding not only improves their operational capacity and capability, it also relieves the pressure on volunteers who give up their valuable time to conduct fundraising in order to maintain their operational readiness."
6 June2008 - Newcastle Permanent - the New Major Partner for the 35th Running of the Tamworth Ten
The 35th running of Tamworth's community fun run, the Tamworth Ten, will be held on Sunday, 3rd August with a new major partner.
Newcastle Permanent announced its sponsorship of the Tamworth Ten at the launch of its Tamworth Branch launch last night.
Event Director, Peter Annis-Brown, is excited about the addition of Newcastle Permanent as a major partner for the event.
"The Tamworth Ten is high profile community event which attracts interest across NSW. We are delighted Newcastle Permanent wanted to be involved as the Major Partner and we are looking forward to working with them to continue to grow this great community event," Annis-Brown said in launching this year's Tamworth Ten.
Newcastle Permanent CEO, Stephen Porges, said; "the Tamworth Ten has a rich history in the community and we are delighted to be the major sponsor for this significant community event. To maintain the popularity in the event after 34 years is a credit to the organisers."
"Newcastle Permanent is opening branches in Tamworth and Armidale in June and as part of our commitment to the communities in which we operate, we make a point of supporting community events like the Tamworth Ten," added Mr Porges.
The format for the 3 August events will follow recent years and include;
- The Tamworth Ten, presented by Newcastle Permanent
- The APMS 5km, the Bob Jane 4km walk and
- The popular NDL "Dash for Cash"
The organisers will this year also invite a number of local schools to take part in a schools challenge. The action will not only be limited to the road, with a family fun day to be held on Tamworth's No. 1 Oval for participants and families.
Activities on No. 1 Oval will include the NDL "Dash for Cash", free kids jumping castle and rides, Rodney the Clown and family novelty sack and three legged races.
Organisers are also encouraging Tamworth's businesses to set up a corporate tent or marque surrounding No. 1 Oval to promote their business and involve their staff with a great community event. As limited spots are available, Tamworth businesses and organisations should get in early to book their space for the event by contacting the organisers for the Tamworth Ten.
With only six weeks to go, entry forms appear in the Northern Daily Leader, and are available to download.
5 June2008 - A new financial choice...Newcastle Permanent opens in Tamworth
Tamworth residents now have more choice for their financial needs, with today's opening of Newcastle Permanent's Tamworth Branch.
Newcastle Permanent is a complete retail financial services provider offering a genuine alternative to traditional banks for personal and business banking needs.
For more than 100 years, Newcastle Permanent has been providing a range of products which deliver superior value to members in terms of better interest rates, low fees and market leading features.
At the official cake cutting to mark the branch opening, Newcastle Permanent CEO, Stephen Porges, thanked Mayor James Treloar for joining in the celebrations.
"Today is an exciting day, I want to thank the Mayor for his warm welcome and for being part of the celebrations as we open our 52nd branch. Our staff members –including Branch Manager Julie Callander and Lending Manager Robyn Donnelly – are local people and they are looking forward to providing the customer service Newcastle Permanent is renowned for."
"Our Tamworth members will have access to an alternative to the mainstream banks which is big enough to meet all of their financial needs and is genuinely committed to reinvesting their success back into local communities rather than the pockets of their shareholders," said Mr Porges.
Newcastle Permanent offers more 5-star rated home loans than any other bank, building society or credit union in Australia, as well as a 5-star rated credit card and a highly competitive range of deposit products.
The Newcastle Permanent Branch is located at 315 Peel Street and will be staffed by a Branch Manager, Community Lending Manager and four branch staff.
4 June2008 - Newcastle Permanent declared Building Society of the Year...again
In Money magazine's prestigious Consumer Finance Awards for 2008, Newcastle Permanent has again been named Building Society of the Year.
Each year, the awards are determined on the basis of information provided by CANNEX, the nation's leading independent financial products and services analyst. Every Australian financial institution is assessed on its range of products and services, with the best option for consumers determined across three categories – Banks, Building Societies and Credit Unions.
This is the second consecutive year Newcastle Permanent has been declared Building Society of the Year and CEO, Stephen Porges, says the accolade is acknowledgement of the superior value, products, pricing and service delivered to Newcastle Permanent's members.
"Our breadth of range of products and superior value delivered through their pricing is what enabled us to rise above other strong contenders, including Heritage Building Society, IMB Building Society and The Greater," said Mr Porges.
"At a time when more and more people are looking for an alternative to the mainstream banks to help look after their community rather than shareholders, receiving this award back-to-back is an ongoing, independent endorsement of our competitiveness. It demonstrates that, while we are regionally based, the value provided by our products and services can match or better any financial institution throughout Australia."
"As evidence of our competitiveness, we offer more 5-star rated home loans than any other bank, building society or credit union in Australia, as well as a 5-star rated credit card, highly competitive deposit products and a full range of sort after term deposits. In all, we have all the personal banking options offered by the big banks but they are delivered with our unique style of friendly service. The Money magazine Building Society of the Year Award is testament to our excellence in member service, which is the result of the commitment of our staff and something of which we are incredibly proud," concluded Mr Porges.
16 May2008 - Newcastle Permanent Charitable Foundation proves it's a Good Sport
The Newcastle Permanent Charitable Foundation has committed $225,000 in funding over three years to the Hunter and New England Good Sports Program. Good Sports is a national initiative of the Australian Drug Foundation and operates in partnership with Hunter New England Population Health and the Good for Kids Good for Life project.
The grant will give Hunter and New England community sporting clubs the opportunity to improve their culture and develop a family friendly environment.
Newcastle Permanent Charitable Foundation Chairman, Michael Slater, noted at today's announcement the Prime Minister has placed sporting clubs on notice to address the problem of young people binge drinking at their local club.
"As responsible community citizens the Charitable Foundation Board decided it was very appropriate to support the Good Sports Program to help reduce alcohol and drug related problems in the community," said Mr Slater.
"The Board sees this highly publicised issue as a significant one for the whole community. We welcome the opportunity to make a significant financial commitment to support an initiative which helps to solve this problem and provides a benefit to society at large, and particularly in regards to our youth and their development."
Former Newcastle Knight, Marc Glanville, manages the Hunter New and England Good Sports Program, which currently includes has more than 200 clubs.
"The $225,000 in funding from the Newcastle Permanent Charitable Foundation is the largest corporate donation the organisation has received," said Mr Glanville.
"It will play a major part in helping educate clubs to manage alcohol responsibly, provide healthier food choices in the canteen and create a more welcoming, family-friendly club for players and supporters alike."
At today’s funding announcement, Dudley Junior Rugby League Football Club, Lake Macquarie Rugby Club and Cardiff Netball Club received their level one accreditation in the Good Sports Program.
At level one, a Good Sports Project Officer assists the club through the process of:
- Liquor License
- Registered food business
- Bar management (RSA training) and basic nutrition and safe food handling techniques, and
- Certified coach accreditation,
The Good Sports Program has more than 2,200 participating sports clubs across Australia. It aims to help sporting clubs manage alcohol responsibly and reduce alcohol related problems such as binge and underage drinking, as well as drink driving.
The progam was initiated after evidence came to light that community-based sports clubs contribute to alcohol problems by accepting and promoting excessive drinking and providing inappropriate role models for young people. A study by the Australian Drug Foundation of more than 500 young people found more than 30% of 13-17 year olds had participated in unsupervised drinking at a sports club, and 51% of drinkers at sports clubs are consuming alcohol at harmful or hazardous levels.
13 May2008 - Newcastle Permanent Charitable Foundation supports children with disabilities
Northcott Disability Services is set to benefit from a $35,000 grant from Newcastle Permanent Charitable Foundation. The funds will be used to run respite camps organised for children with a disability from the Mid North Coast region.
Thanks to the Newcastle Permanent Charitable Foundation’s support, Northcott clients and their families will be able to participate in a series of respite camps in Coffs Harbour over the next three years. These camps are a vital service for families caring for a child with a disability.
Northcott's Regional Development Manager, David Bate, welcomed the much-needed grant, acknowledging the need for respite and the support provided by the Newcastle Permanent Charitable Foundation.
"Respite is very important to both the child with a disability and their carers," Mr Bate said. "It is very pleasing to know Northcott clients and their families in the Mid North Coast community will continue to have access to respite thanks to the Charitable Foundation."
Newcastle Permanent Charitable Foundation Chairman, Michael Slater, said the foundation was pleased to be able to support Northcott Disability Services in operating respite camps for children with a physical disability and their families.
"The importance of respite for the client and their families is well understood, yet not always readily available in areas outside major cities," Mr Slater said. "We are delighted to be able to assist Northcott in providing respite to the Mid North Coast community as this is closely aligned with the aims of our Charitable Foundation."
Northcott plans to run the first respite camp with the aid of the funding in June and September 2008, followed by camps in January 2009.
Northcott’s regional office in Coffs Harbour currently run a number of respite camps and sibling groups as part of the Individual and Family Support program. The respite camps allow both children with a physical disability and their parents to take a break. Respite gives children the opportunity to enjoy some time away from their families, make new friends and develop independence and social skills. Respite also provides parents and carers the opportunity to take a break, as caring for a child with a disability is a full-time and demanding role and can consequently lead to family breakdown.
Northcott Disability Services provides support to over 6000 people with disabilities and their families across NSW and the ACT. Northcott Disability Services regional office in Coffs Harbour services the Mid and Far North coast regions. Services include Individual and Family Support and Community Participation programs for school leavers. For further information please contact Northcott Disability Services Coffs Harbour office on (02) 6651 2366 or go to http://www.northcott.com.au/.
26 March2008 - Newcastle Permanent secures positive credit rating
International credit rating agency Standard and Poor's have reaffirmed the financial strength of Newcastle Permanent as Australia's most robust Building Society with a rating equivalent to Australia's regional banks.
A review was undertaken of all rated Australian financial institutions in light of the current global funding crisis, Newcastle Permanent remained BBB+/Stable/A-2.
This rating is equal to that of larger regional banks such as the Bank of Queensland, Adelaide and Bendigo Banks.
Newcastle Permanent CEO Stephen Porges said the credit rating is a recognised indication of an organisation's financial strength and stability.
"This strong credit rating reflects our high prudential management standards and the quality of our deposit and mortgage portfolios in these difficult times," Mr Porges said.
Standard and Poor's review acknowledged that while funding pressures are likely to continue, Newcastle Permanent's balance sheet measures – such as capitalisation, liquidity and strong retail deposit base – "make it more resilient to withstand the current market conditions."
Mr Porges said one of Newcastle Permanent's greatest strengths during this time of market volatility is our loyal member deposit base, standing at more than 70% of total funding at the end of February this year.
"Over the past eight months we have grown our retail deposits base strongly. This is testament to our excellent products, our competitive pricing and our fantastic staff who promote our products to meet members' needs," added Mr Porges.
Newcastle Permanent will continue to operate in a financially prudent manner to ensure the organisation remains Australia's financially strongest building society.
19 March2008 - Newcastle Permanent extends partnership with the Knights
A record sponsorship year is continuing for the Knights with Newcastle Permanent the latest major sponsor to re-sign a long term agreement.
The local financial institution has increased its investment and committed to a three-year extension as a high profile supporter of Rugby League in Newcastle and the Hunter Valley.
"Newcastle Permanent has been a loyal partner with the Knights over the past five years," said Knights CEO, Steve Burraston.
"As naming rights sponsor of Junior Development during this time, Newcastle Permanent has directly funded talent the Newcastle and Hunter football nursery has produced and we're honoured to continue our association in this increased capacity."
Newcastle Permanent CEO Stephen Porges said that he was delighted to extend the organisation's commitment to the Knights and the Junior Development Program.
"We are very proud of our association with the Knights Junior Development Program and the role it plays in our region.
"While fostering elite young players that underpin the club's on-field success is a core responsibility of the program, it also does an outstanding job in conducting events and activities that engage with more than 50,000 children across the region each year.
"The program uses rugby league to promote the importance of key life skills and values such as teamwork, sportsmanship and leading an active lifestyle.
"Beyond the junior development program, Newcastle Permanent is now the official financial services provider of the Knights which will allow us to develop a range of promotions and activities that will be rolled out to our staff and members throughout the year." Mr Porges
said.
"Newcastle Permanent is to be praised for the contribution it makes to help local kids realise their dreams here in Newcastle," Mr Burraston said.
"This highlights the faith major businesses in Newcastle have in the direction the Knights are headed."
"Confidence in our football club is riding extremely high as we kick off our 21st year with financial security, two National teams with more depth than ever before and a return to family values.
"It's going to be a great year."
17 March 2008 - Newcastle Permanent to increase rates following RBA's latest decision
Newcastle Permanent Building Society announced today that it would be increasing its variable mortgage rate by 0.35% following the Reserve Bank's latest increase in official interest rates.
The increase would be effective on Tuesday, 18 March, with increased repayments for existing borrowers to apply from 1 May 2008.
Chief Executive Officer, Stephen Porges, said the continuing uncertainty in the global financial markets was impacting on all financial institutions.
"Newcastle Permanent has continued to bear the majority of the increased funding costs for our mortgage members, but we must again pass some of the increased costs through to borrowers."
"Whilst Newcastle Permanent had no direct involvement in the original sub-prime crisis, the consequences of that have continued to impact on financial markets. This impact has lasted longer than anyone anticipated and all Australian financial institutions are facing a continuing increase in the cost of wholesale funding due to a tightening of international markets.
"This also means that competition for retail funding has steadily increased. The net result is that Newcastle Permanent must increase our home loan rates to ensure an equitable spread of operating costs across our member base. As the cost of funding increases, we must increase our lending rates to meet those costs.
"An increase in our home loan rates is necessary to ensure that we can meet these increased funding costs while continuing to offer the high value lending products that our members expect," Mr Porges said.
"Even with this latest increase our Real Deal home loan still represents one of the lowest interest rates available in Australia.
"The increase will also flow through to our deposit products including our Rapid Saver savings account which is now paying 8.0% p.a., and our business and personal cash management accounts which are also offering highly attractive rates of up to 7.0% per annum."
The 0.35% percent increase will mean an increase in repayments of approximately $23 per month per $100,000 of a loan taken over 25 years.
21 February 2008 - Newcastle Permanent opens at Rutherford
The opening of the Newcastle Permanent branch at Rutherford Marketplace today adds to the Society's lower Hunter presence.
It also represents another step in Newcastle Permanent's branch network expansion that commenced in 2006 with Rutherford being the 51st branch.
Chief Executive Officer of Newcastle Permanent, Stephen Porges, said that expansion of the Newcastle branch network was in response to growing demand from members.
"The branch will meet a very definite need for our members, and given the range and quality of our financial services and the convenience of our 9 to 5 and Saturday morning opening hours, most likely attract new members
"Our aim is to have the best positioned and most convenient network in the region. Rutherford Marketplace fits that requirement in terms of location and services that it provides to meet the needs of this rapidly expanding area.
"Financial service outlets are becoming recognised as an essential service. While many people now use electronic channels to conduct their day-to-day financial transactions, our research shows that these complement our over-the-counter services.
"Most of our members balance their use of electronic channels and branch services depending on their time constraints and the nature of the service that they wish to use at any particular time.
"Newcastle Permanent's branch network is a key part of our brand proposition and service offering to members, and we will continue to investigate opportunities for its expansion in the Hunter, the Central Coast and beyond."
18 February 2008 - Newcastle Permanent to increase rates following RBA decision
Newcastle Permanent Building Society announced today that it would be increasing its variable mortgage rate by 0.30% following the Reserve Bank's latest increase in official interest rates.
The increase would be effective as of 19 February, with increased repayments for existing borrowers to apply from 1 April 2008.
Announcing the decision, Chief Executive Officer, Stephen Porges, said the ongoing uncertainty in the global financial markets was impacting on all financial institutions. We have continued to bear the majority of the increased funding costs for our mortgage members, but we must now pass some more of the increased costs through."
"Since January, Newcastle Permanent's variable mortgage rates have increased by a total of 0.40%, the equal lowest of all of the major mortgage providers including all the major banks.
"Consequently, our Real Deal basic variable home loan remains one of the most competitive and affordable in the market." Mr Porges said.
"While Newcastle Permanent had no involvement in the original sub-prime crisis, the simple fact is that credit has tightened as result and the cost of wholesale and retail money is increasing.
"Unfortunately, Newcastle Permanent is not immune from that. This increase in our rates is necessary to ensure that we can contain our costs while continuing to offer the high value lending products that our members expect.
"Furthermore, as a mutual we have an obligation to ensure an equitable spread of operating costs across our member base. As the cost of funding increases, we must increase our lending rates to meet those costs.
"One positive to flow from the increase in rates is that Newcastle Permanent has also increased the rates paid on a range of our deposit and investment products. For example, our bonus savings account Rapid Saver is increasing by 0.5% to 7.5% and our 12 month term deposit is now paying 7.35%% for amounts over $5,000". Mr Porges said.
The 0.30% percent increase will mean an increase of approximately $30 per month on a $150,000 loan taken over 25 years.
21 January 2008 - Newcastle Permanent to lift variable interest rates
Newcastle Permanent has announced that it is increasing variable interest rates on mortgages by 0.1%, effective today, in response to sustained increases in the costs of funding.
Chief Executive Officer, Stephen Porges, said that while Newcastle Permanent was mindful of the effects of any rate increase on borrowers, the organisation had a responsibility to all members to ensure there was an equitable distribution of costs and benefits across all member categories.
"Whilst Newcastle Permanent has no direct exposure to the United State's sub-prime mortgage market, the flow on effect is impacting on the cost of funding for all businesses in Australia and Newcastle Permanent is not immune from that situation.
"The simple fact is that all funding is becoming increasingly costly. Irrespective of whether borrowings are funded by wholesale money, or as in the case of Newcastle Permanent, largely through retail deposits, all financial institutions in Australia are paying more for the funds they use for lending across all products.
"As a mutual, Newcastle Permanent has an obligation to ensure that the interests of all members are addressed, and that there is an equitable distribution of costs and benefits across the various member categories. This basically means better value for both depositors and borrowers.
"Even factoring in this increase of 0.1%, Newcastle Permanent's loans products are amongst the most competitive available and represent excellent value for our members," Mr Porges said.
"While interest rate increases of any size are never good news for borrowers, our depositors will welcome any upward movement in term deposit and savings rates and as I have said, Newcastle Permanent must always consider the longer term interests of all our members."
The increase equates to a rise of approximately $10 per month in repayments on a $150,000 loan taken over 25 years.
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