News

5 April 2012

QT Mutual Bank North Lakes branch manager Natasha Walmsley has taken the plunge for the mutual bank and signed up for the Credit Union Foundation Australia’s (CUFA) Cambodia Leadership Challenge.

The program, run from June 4 to 17 this year, will involve a six day cycling challenge in addition to seven days of activities to support CUFA’s in-country project work.

The final stage of the challenge requires participants to complete 100 hours of voluntary work in the local community once they have returned home.

QT Mutual Bank North Lakes branch manager Natasha Walmsley said as a mother she feels strongly about the cause and is looking forward to the Challenge.

"I don’t like seeing other children in a situation that I wouldn’t like my children to be in, especially when we can do something about it," Ms Walmsley said.

"I’d like to bring back what I’ve learnt and apply the learning to help strengthen QTMB’s role in the local North Lakes community."

Ms Walmsley said she hopes to fundraise over $3,000 through the Challenge as part of the cause.

"It’s going to be tough to say the least, especially the physical aspect of the Challenge, but I can’t wait to get on that bike," she said.

QT Mutual Bank CEO Mike Murphy said he was extremely proud to be involved in a program that benefits developing communities, as well as those closer to home.

"CUFA’s Leadership Challenge is such a great opportunity to give something back and support our local communities as well as help disadvantaged communities overseas," Mr Murphy said.

"QT Mutual Bank is pleased to have Natasha representing us in such a great program and we hope she enjoys every minute of the rewarding experience."

The challenge also aims to raise funds for CUFA’s Children’s Financial Literacy Program with all participants collecting money for the program.

To support Natasha and the cause, you can donate at www.everydayhero.com.au/natasha_walmsley

QTMB is Queensland’s Mutual Bank and is 100 percent owned by its members. While conventional banks are owned by shareholders, QTMB exists solely for the financial needs of everyday Queenslanders. Through reinvesting back into improved financial products and services, QTMB is committed to offering a range of attractive benefits for members such as fairer fees, competitive rates and innovative products.　

02 April 2012

Experienced consultant and company director Jan Bowe has been appointed as QT Mutual Bank’s newest Director, bringing the Bank’s Board to an equal membership of four women and four men.

With women accounting for just over 15 percent of Australia’s senior executive and board-level positions, the average proportion of women on boards of the Big Four banks is still only 23.8 percent – more than 26 percent less than QT Mutual Bank.

Ms Bowe brings extensive senior executive experience in banking and financial services, specialising in corporate strategy and strategic marketing, including senior executive roles with both Commonwealth Bank of Australia and Suncorp Metway.

QT Mutual Bank Chairman Peter Whitelaw said Ms Bowe’s background equipped her with knowledge and experience welcomed by the QT Mutual Bank Board.

"Jan has strong working expertise in the governance of mutuals, both as a non-executive director for Combined Dispensaries Friendly Society and as a senior executive with one of Australia's most iconic mutuals, the NRMA," Mr Whitelaw said.

"Combined with a track record of contribution to the community and the not for profit sector, Jan has an appreciation and understanding of the challenges facing membership organisations.

"We are confident Jan will complement the gender-balanced QT Mutual Bank Board as we reach our six-month milestone as a mutual bank."

Incoming Director Jan Bowe said she is pleased to be joining QT Mutual Bank after such a significant transition.

"QT Mutual Bank is at a point of real change and there are so many tremendous opportunities for the Bank, its members and its staff," Ms Bowe said.

"It was the courage to embark on this transformation that really drew me to express interest in joining the Board.

"Joining QT Mutual Bank at this time enables me to make a real contribution to the strategic direction, the development of an enlarged suite of products and services and to an enriched member proposition."

Directors are responsible for the Corporate Governance practices of QT Mutual Bank, with primary responsibilities including approval of the Annual Financial Statements, establishing long-term goals and strategic plans and the development of policies for the efficient management of Queensland’s first mutual bank.

Ms Bowe’s key career achievements include the development of a member value strategy for NRMA, designing a loyalty program, and developing and evolving the brand strategy.

Ms Bowe also developed a retail banking strategy for the Commonwealth Bank of Australia, taking a customer centric approach to gain an understanding of customer segments.

Qualifications include a Bachelor of Health Administration, Masters of Business Administration and Graduate of AICD Company Directors' Course.

1 April 2012

QT Mutual Bank has proven its strength since becoming Queensland’s first mutual bank six months ago, with an increase in membership and new product innovations bolstering their position as a worthy alternative to the big banks.

Since the October 2011 change to QT Mutual Bank, the state’s first mutual bank has seen a spike in enquiries and new members, with January their strongest membership growth month in almost a year.

QT Mutual Bank CEO Mike Murphy said it was their continued development of innovative products that allowed them to grow as a contender to the big banks.

"Since launching QT Mutual Bank, we have seen the introduction of the Australian-first capped variable rate car loan, where members may see a decrease in their interest rates but will never see it rise above the original starting rate," Mr Murphy said.

"Combined with our Mortgage Breaker Home Loan featuring the three month breather, and our award-winning Rate Tracker home loan that follows the RBA’s official cash rate, we are determined to continue offering innovative and competitive products for our members.

"Members with a Rate Tracker home loan have continued to benefit from the RBA rate cuts in November and December 2011, and they weren’t hit with a rate increase after the RBA kept rates on hold this year.

"We are proud to have reached our six month milestone with such positive growth to show for it – in February this year we saw a 43 percent increase in online enquiries alone.

"We are expecting the growth to continue steadily throughout the year as more Queenslanders realise the savings that can be made by switching from the big banks."

QTMB is Queensland’s Mutual Bank and is 100% owned by its members. While conventional banks are owned by shareholders, QTMB exists solely for the financial needs of everyday Queenslanders.

Through reinvesting back into improved financial products and services, QTMB is committed to offering a range of attractive benefits for members such as fairer fees, competitive rates and innovative products.