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Health & Wealth Expo 2018

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Written by Marketing

Health & Wealth Expo - A Great Success! 

Sponsors

This event wouldn't have been possible without the hard work from all of our sponsors: 

Winners

Congratulations to our competition winners from the day:

  • 1st Prize - iPad Mini 4 - Maree Scully
  • 2nd Prize - HighLow Trial - Hari Kuna
  • 3rd Prize - HighLow Trial - Sunil
     

 

Highlights

  • Chance to win an Apple iPad Mini 4 & 2 x High Low gym memberships for you and a friend - terms and conditions apply
  • Get to know your local business owners
  • Stock up on pens and other free giveaways all neatly stacked into a brand new re-useable shopping bag for you!

Event Details:

 
  • Friday 14th September, 12pm - 2pm
  • The Village, 3 Julius Avenue, North Ryde

Enquire

   

 

 


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Downsizers Super Scheme

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Written by Marketing

Super opportunity for downsizers

After 1 July 2018, if you’re over 65 and sell your home, you can now put some of the money you receive into your super.

How does it work?

You can use the money from the sale of your house to make a ‘downsizer contribution’ to super of up to $300,000 or $600,000 for a couple.

Who is eligible?

You are eligible to take advantage of this scheme if you are aged 65 or over.

Unlike the non-concessional contributions, the good news is that you don’t need to be working and there are no age limits to making downsizer contributions. Also, the total super balance test of $1.6 million and the $100,000 non-concessional contributions cap restrictions don’t apply which makes it a great option if you want to contribute more to super and are currently ineligible because of these restrictions.

If you are considering selling your property and are interested in contributing to your super you should hold off selling until after 1 July 2018 as a property sold before this date is ineligible.

What types of properties are included?

The property must be located in Australia. It does not need to be your current home — it can be your, or your partner’s, former home as long as you or your partner have owned it for more than 10 years and lived in it at some point in your life. An investment property that neither of you have lived in is not eligible. But, the property does not need to be owned by both members of a couple for both of you to make a contribution of up to $300,000 to your super. Unfortunately, the sale proceeds from a houseboat, caravan or mobile home cannot be used.


 

For Tom and Hazel it’s time to downsize their $700,000 home to a smaller $500,000 home. After 1 July 2018, for the first time, they have the opportunity to boost their super with the remaining $200,000.

 

 

Note: If your family home is currently exempt from the Centrelink assets test and you sell it and put the money into super — your age pension entitlement could be affected.

For more information please contact us

Take the next step

To discuss your financial situation, make an appointment with a Bridges financial planner.

We have an established alliance with Bridges, to provide our customers with financial advice.

Bridges has been helping Australians with financial advice for 30 years. A Bridges financial planner will develop a plan specifically for you; one that’s tailored to your needs and circumstances to help you achieve your goals.

To make an appointment with a Bridges financial planner please contact us

The initial consultation is complimentary and obligation free.

Bridges Financial Services Pty Ltd (Bridges). ABN 60 003 474 977. ASX Participant. AFSL 240837. Part of the IOOF group

This is general advice only and has been prepared without taking into account your particular objectives, financial situation and needs. Before making an investment decision based on this information, you should assess your own circumstances or consult a financial planner or a registered tax agent. Examples are illustrative only. In referring customers to Bridges, Laboratories Credit Union Ltd does not accept responsibility for any acts, omissions or advice of Bridges and its authorised representatives.


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Fond Farewells

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Written by Marketing

Fond Farewells

This year we were sad to say farewell and good luck to long standing board member Kieran Greene.

Kieran has been a member of LCU since 1975, an associate director since 1997, director since 2000 and Chairman from 2006 to 2009. That means that upon retiring at the end of 2017, Kieren had been serving on the board of LCU for a total of 20 years.

Over these two decades Kieran modelled many behaviours that define the qualities LCU value in our board, management and staff. A farewell dinner was held for Kieren giving an opportunity for everyone to express their sentiments, Scott Martin (current Chairman) had this to say:

“Each of us has a place inside of us, whose singular purpose is to overlook our lives and, when it witnesses excellence in others, to generate gratitude. I'm going to invent it now: the GRATUITARY gland. In most people it's about the size of a hazelnut, but Kieran's is colossal! 

Kieran's signature move is interjecting just as we are about to move to the next agenda item and delivering a heartfelt vote of thanks to the people involved in the preceding item - be they board member, management or staff.

Not only is it heartfelt, but it is always specific in describing how their actions have created benefit and positive impact. Without him on the board we must be collectively mindful that we emulate Kieran's gratitude and continue to always remember to pause for Kieran interventions.”


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Mobile Banking Guide to Osko

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Written by Marketing

Mobile Banking Guide to Osko

How to receive payments with Osko

This is what you'll need to do to start using Osko today.

  • Log in to your Mobile Banking from an android or iOS device
  • Go to More in the menu bar along the top
  • Go to PayID and then tap Create PayID
  • Select a contact and choose which account you'd like to link it to (tap the "Update" link if you need to add a new mobile number or email address)
  • Tap Next then Get SMS/Get Email and enter the Verification Code sent to the contact you selected
  • Read the Terms & Conditions then tick the checkbox and click Next

You are now ready to start receiving payments with Osko.

Next time someone asks for your account details you can give them the PayID you have just registered (As long as the financial institution they are using offers Osko too). When they make a transfer to you, you'll see the funds arrive in your account seconds after they click confirm (even on the weekends!)  

If you are a business account holder and wish to register an ABN or Organisation ID please contact us as we will need to set it up for you. 

How to send payments with Osko

When you next tap on Payments, you'll notice a new icon in the menu called New Payments Platform.

Choose your transfer from account, then tap New Payee.

You'll now be given a choice of Transfer method. Upon selecting one of the transfer method options and entering a valid PayID, once you tap away from the field, the name of the person or company will be shown below it. In the example below, after entering Eileen's email you can see her PayID Name. This allows you to confirm that the PayID belongs to the person or business you intend to transfer funds to. 

From there the options are identical to what they were previously, you still have the ability to schedule future-dated, as well as recurring payments. The reference on your statement is still limited to 35 characters but the Message to Payee now allows up to 280 characters. 

You'll notice a new line showing the "Remaining daily limit". The Osko daily limit is $200.00. To request an increased limit, please contact LCU (you must have SMS One-Time-Password Security active on your internet banking).  

Once you tap next, confirm the details of the transfer and finalise it, the funds will be in the recipient's account moments later. 

Fun Facts

  • You may be able to send an OSKO payment using a BSB and account number IF the payee's Financial Institution offers Osko and has the required setup
  • In fact, payments coming from other financial institutions sent via Osko with a BSB and account number will arrive in your account immediately. That's because LCU has the Osko infrastructure, you don't have to do anything to benefit from Osko today!

Related Information

As always, if you have any queries please contact us on (02) 9859 0585, on info@lcu.com.au or you can complete our online enquiry form


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Osko Available Now

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Written by Marketing

Osko Available Now

How to receive payments with Osko

This is what you'll need to do to start using Osko today.

  • Log in to your MyViewpoint Internet Banking (for mobile banking, click here)
  • Navigate via the menu to My Preferences > Manage PayID
  • Click Create PayID
  • Select a contact and choose which account you'd like to link it to using the drop down boxes (click the "Update Contact Details" link if you need to add a new mobile number or email address)
  • Then click Get SMS/Get Email and enter the Verification Code sent to the contact you selected
  • Read the Terms & Conditions then tick the checkbox and click Create

You are now ready to start receiving payments with Osko.

Next time someone asks for your account details you can give them the PayID you have just registered (As long as the financial institution they are using offers Osko too). When they make a transfer to you, you'll see the funds arrive in your account seconds after they click confirm (even on the weekends!)  

If you are a business account holder and wish to register an ABN or Organisation ID please contact us as we will need to set it up for you. 

How to send payments with Osko

When you next transfer money, click New Payee and you will now see Transfer Method options.

Upon selecting one of the transfer method options and entering a valid PayID, once you click away from the field, the name of the person or company will be shown below it. In the example below, after entering Eileen's email you can see her PayID Name. This allows you to confirm that the PayID belongs to the person or business you intend to transfer funds to. 

From there the options are identical to what they were previously, you still have the ability to schedule future-dated, as well as recurring payments. The reference on your statement is still limited to 35 characters but the Message to Payee now allows up to 280 characters. 

You'll notice a new line showing the "Remaining daily limit". The Osko daily limit is $200.00. To request an increased limit, please contact LCU. For this option you must have SMS One-Time-Password Security active on your internet banking.*

Once you click next, confirm the details of the transfer and finalise it, the funds will be in the recipient's account moments later.   

Fun Facts

  • You may be able to send an OSKO payment using a BSB and account number IF the payee's Financial Institution offers Osko and has the required setup
  • Payments coming from other financial institutions sent via Osko with a BSB and account number will arrive in your account immediately because LCU has the Osko infrastructure.
  • You don't have to do anything to benefit from Osko today!

Related Information

As always, if you have any queries please contact us on (02) 9859 0585, on info@lcu.com.au or you can complete our secure online enquiry form

 

*Increased limits are subject to LCU's discretion

 


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