ANNUAL REPORT 06SERVICE ONE CREDIT UNION LTD 07 CONTENTS 3 Vision, Mission and Values 4 In the Community 11 Corporate Directory 12 Message from the Chair 16 Directors 18 Corporate Governance Statement 24 Directors’ Report 28 Financial Report 61 Directors’ Declaration 62 Independent Audit Report 1 vision To be the first choice banking institution for those living in the ACT and South Eastern NSW. mission To excel at providing banking and financial services. values We care about each other and behave as a supportive family would behave. The conduct of our business and ourselves shows others what kind of organisation we are and is demontrated by the following values: • We are respectful and courteous • We are tolerant and supportive • We are honest and open • We are dependable and accountable • We are prudent and ethical. 2 3 IN THE COMMUNITY SERVICE ONE Members Banking is proud to support community events and organisations within our region. Some of the events and organisations we have supported over the past 12 months include: ACT Cancer Society Carers Charity Bowls Day Sids and Kids ACT Eden Monaro Cancer Cooma Show Snowy Hydro SouthCare Support Helicopter Service Cooma Cats Australian Rules ACT Tennis Football Club Snowy Hydro Driver Education Australian National University Cooma Lions Club Snowy River Festival (ANU) Dalgety Show Southern NSW Health Seminar Batemans Bay Baby Dream and Achieve Special Children’s Christmas Competition Party Gadara P&C Special School Batemans Bay Orchid and Summer in the Capital Foliage Society Heart to Heart Ball Tertiary Open Day Batemans Bay Public School Jeans for Genes Day The Mary Potter Award Batemans Bay Scholarships Junior Far South Coast Rugby Union The Shepherd Centre Batlow Tech College Leukemia Foundation Tumut Bulls Rugby Union Bemboka Lions Club Football Club Lions Club Festival of Magic Bemboka Show Tumbarumba Garden Club Llewellyn Choir CA Brumbies University of Canberra McCauley Catholic School Calvary Hospital Organ Donation Canberra Hospital 7th Light Horse Bemboka Candelo Show Troop Families enjoying themselves at the 2007 Summer in the Capital The 7th Light Horse Bemboka The Cooma branch staff ham it up The U10 Batemans Bay Boars play the curtain raiser at a CA Brumbies Troop on Anzac Day 2007. on Red Nose Day. game. 4 Snowy River Festival The legend of the Man from Snowy River came to life Snowy Hydro SouthCare again this year at the Snowy River Festival. Held on the banks of the Snowy River in Dalgety, events included bush SERVICE ONE Members Banking is proud to have been a supporter poetry, a food festival, a school heritage day and the ever of the Snowy Hydro SouthCare Helicopter Service for the past 3 popular Stockman’s Challenge. For the second year running years. This service has been operating for almost nine years and SERVICE ONE Members Banking sponsored the Stockman’s has performed 2,779 life saving and rescue missions. Challenge which saw over 40 competitors compete. The Stockman’s Challenge requires participants to draw on traditional The Snowy Hydro SouthCare crews flew 336 missions this year skills used by stockmen over the past 200 years who successfully including missions to save three crewmen seriously injured worked and lived in the rugged mountain ranges. The challenge when the mast on their Sydney to Hobart racer crashed down comprises of six preliminary events including horseshoeing, whip in pounding seas, a professional abalone diver who had been cracking, stock handling, a cross-country race and the Bareback attacked by a shark whilst diving, a truck driver and his 3 year Challenge. old son who were in a truck accident on the Hume Highway and a man with suspected spinal injuries after an incident at Depot The cross-country race provided great entertainment for spectators and a real challenge for the Beach, North Durras. riders as they tackled jumps and river crossings. The Bareback Challenge consists of eight obstacles “the legend Events held during the year to raise much needed funds for the and a 20 second freestyle demonstration. Points were awarded for each event and the top ten helicopter service included the eighth anniversary opening to the competitors went on to compete in the two final events, the Stockman’s Obstacle Course and the of the Man public of the helicopter’s base in Symonston where families from Brumby Catch and Handle. all over the region were able to see the new-look helicopter, the The Stockman’s Obstacle Course is a timed event with competitors given a variety of obstacles to from Snowy fifth black tie Winter Wonderland Gala dinner and auction which tackle. In the Brumby Catch and Handle competitors are required to catch a loose brumby with raised over $70,000 and Celebrity Ballroom where local sports points awarded for care and skill. Ryan Pendergast from Yanco took home the title for the second River came stars, media personalities and politicians danced the night away. year running with 7 points, well clear of Geoff Willis from Wagga Wagga who earned 719 points to life at the The Snowy Hydro SouthCare Helicopter service is very important for his efforts. to the local communities of South East NSW and the ACT and If you’d like to get a taste of the country head on down to Dalgety 16-18 November this year for Snowy River SERVICE ONE Members Banking is very proud to be a major the 2007 Snowy River Festival. SERVICE ONE Members Banking is a proud supporter of the Snowy supporter of this life saving service. River Festival. Festival.” “the fifth Agricultural Shows Summer in the Capital SERVICE ONE Members The 2007 Summer in the Capital held within the Parliamentary triangle during January and February Winter Banking is proud to support attracted nearly 14,000 local and regional families to events including school holiday programs, local agricultural shows and Moonlight Movie nights and Sunday in the Park. Wonderland farmers within our community Sunday in the Park was held weekly in Commonwealth Park with entertainment provided by local including the Tumut, Cooma, bands. The Gecko Gang and Kids at Play provided a more active type of entertainment for the kids Gala dinner Candelo, Bemboka and with jumping castles, balloon modeling, games and face painting each week. Dalgety Shows. raised over National institutions including the National Zoo and Aquarium, the Botanic Gardens, Questacon, Despite the drought, the 2007 the National Museum of Australia and AIS showed off their public programs with demonstrations of shows were an outstanding $70,000.” their upcoming exhibitions and events. success with the number of entries in many events up on SERVICE ONE Members Banking, a major supporter of the 2007 Summer in the Capital, also joined previous years. For many this in the fun giving kids of all ages SERVICE ONE balloons. Brumby Jack was a hit with kids and was a very tough year and adults alike dancing up a storm to local jazz band Limelight while the CA Brumbies players signed it was great to see so many Neville Cuzner (on horse) winner of a show jumping event at the autographs. The Snowy Hydro SouthCare Helicopter was also there to give the public the opportunity locals supporting the show by Cooma show. to have a close look at the helicopter. attending and/or competing in Friday nights during February were movie nights with many families attending Moonlight Movies in events. Commonwealth Place. Despite the weather being a bit chilly (and also very wet on the last Friday) the movie nights were a big hit. We’re looking forward to once again presenting Summer in the Capital to the Canberra community in 2008. 6 7 CA Brumbies The 2007 Investec Super 14 competition saw the CA Brumbies farewell three legends of the club in style with a record six consecutive wins. Highlights of the season included first time away wins against finalists the Sharks in Durban, South Africa and against New Zealand’s Highlanders at Carisbrook. A dream farewell at Canberra Stadium to Jeremy Paul, George Gregan and Stephen Larkham with a victory over traditional New Zealand rivals, the Crusaders, was a fitting tribute and even the Crusaders remained on field during celebrations as a mark of respect to the departing players. Despite an outstanding run of wins and being the most successful Australian team in the competition, the CA Brumbies narrowly “a dream farewell at missed finals contention finishing in th spot on the ladder just two competition points off second place. Canberra Stadium to Jeremy The rise of younger CA players was a feature of the season with Paul, George Gregan and Adam Ashley-Cooper, Stephen Hoiles, George Smith, Mark Chisholm and Julian Huxley also showing that there is a great Stephen Larkham with a deal of leadership and quality in the squad moving forward. 2007 saw a number of Brumbies capped for the first time including victory over traditional rivals, Salesi Ma’afu, Tim Wright, Anthony Faingaa, Peter Kimlin, Peter Playford, Matt Cararro, Richard Stanford and Francis Fainifo. the Crusaders.” Throughout the 2007 Super 14 season Brumbies Rugby Departing foundation players Stephen Larkham and George celebrated many memorable moments. Jeremy Paul played his Gregan were recognised by the ACT Government with the 100th game for the team against the Chiefs in the opening renaming of the Eastern Grandstand, the ‘Gregan / Larkham round. The Centenary of Surf Life Saving was recognised with CA Stand’ at the final match against the Crusaders. Following the Brumbies, SERVICE ONE Members Banking and DHL combining Crusaders match which was their final home game in Canberra, to mark the importance of Surf Life Saving in the community by Stephen, George and Jeremy spent over 90 minutes patrolling helping to bring over 0 Surf Life Savers to Canberra for part the perimeter of the Canberra Stadium surface diligently signing of match day activity.