2018 ANNUAL REPORT
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values

We believe in making a difference at both a local and international level. This belief in our ability and indeed our responsibility, to make a difference drives our actions, the partnerships we form and the experiences we deliver. What makes us different is the way we do things.

Everyone from the Board of Directors to our newest employee work and live to a common set of Shared Beliefs and Guiding Principles which are encapsulated in our Values. It’s the Summerland way.

We are coming into our 12th year of living the values, through everything we do. The Shared Beliefs and Guiding Principles are encapsulated in our corporate values:

Sustainability – We are a values based organisation responsible for living off the earth’s renewable resources.

Community – We have a strong presence in the community and support diverse groups, working collaboratively and cooperatively with them.

Ownership - As owners, our customers have the right to expect a level of service and assistance that provides more than what a bank offers.

Respect - We maintain an environment of full disclosure and transparency in reporting. We are committed to operating in a trusting, fair and equitable manner, accepting the diversity of our customers.

Ethics - Summerland’s business model is based on being a socially responsible, ethical and prudent organisation. We share our community’s values and communicate with them about how we live these values every day.

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customers

These last few years have seen shifts in the ways customers engage with us. Gone are the days that many of us would visit our local branch weekly to do our banking.

Customers are now engaging with us through multiple platforms, as I will discuss in Digital and Data.

To maintain a relevant and effective branch network, investments are being made in upgrading services in a number of Summerland branches to better meet the changing needs of our customers. This meant after a thorough review of our branch operations we made the decision to close our Alstonville and Ocean Shores branches in October 2017.

Summerland has operated a branch on campus at Southern Cross University (SCU) for many years providing staff and students access to make payments directly to the University for their Tuition and other fees. The contract between Summerland and SCU for the provision of these services expired in December last year and after some deliberation we decided to close the branch in July this year.

We are looking to make a difference to the lives of our customers everyday by providing advice they can trust, expert knowledge and a satisfying customer experience regardless of whether they contact us via Facebook, eBranch or visit us in branch.

Our support for organisations and events in the community which our customers are invested in is one of our key values. More information on our significant community partnerships during the last year are highlighted later in the report.

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digital and data

We want to give our customers as many opportunities to connect with us, be it face to face through our branch network, via telephone, email, website or our social media channels, so we can make their life easier when they need us.

We were the first financial institution on the Far North Coast to introduce a wearable payment device and at no cost to our customers. As technology changes, we are at the forefront of how this impacts the financial sector and how these new technologies like the Summerland Wearable can add value and offer new and satisfying experiences for our customers.

In keeping with our strategic goals, we have implemented Microsoft Office 365 across our entire work force to keep abreast of current technologies in the cloud. This has enabled us to keep capital costs down, removed the need for onsite infrastructure and enhanced organisational security. The platform has also enabled us to keep up-to-date with the latest software and increased opportunities for collaboration amongst our staff, regardless of where they are based.

Likewise, with the eBranch and our new cloud based telephone system, our staff can now work remotely from anywhere; for the greater benefit of our customers.

The eBranch is the one branch that can be contacted digitally via our website or telephone and it is for those people that are not close to a branch but still want to access their banking or the expertise and advice of our banking advisors and lenders. 

It doesn’t matter if you’re in Lismore, Canberra or Melbourne, you’ll receive the same award-winning service from our digital eBranch as you would if you were stepping into one of our branches

101

staff members

76%

full time

1.65%

absentee rate

70:30

female to male ratio

$3.1m

profit

$689m

assets

16.83%

capital adequacy ratio

$1.05m

returned to our communities

power

There was a 4% increase in energy consumption of Summerland owned and leased premises this year, with 4996 kWh consumed per FTE.

Accredited renewable energy take-up in electricity contracts is currently 10% pa.

2018
4996
2017
4806
2016
5617
2015
6078

paper

Internal paper usage for the 2017/18 year was 3,933 sheets of normal copy paper per FTE. This is a 29% drop on the previous year.

Improving the environmental impact of the paper we purchase and use in our marketing collateral and member communications, 100% of A4 copy paper and customer statement paper is certified carbon neutral under the National Carbon Offset Standard Carbon Neutral program.

2018
3933
2017
5555
2016
5090
2015
8456

vehicles

The corporate vehicle fleet used 10,683 litres of fuel and 114 km per FTE. This is a 10% increase on the previous year.

Utilising video or teleconferencing forms part of the assessment when making staff travel decisions.

2018
114
2017
103
2016
115
2015
97

air travel

Business travel by air in 2017/18 consisted of flights covering 93,868 kms, which equated to 1,009 km per FTE.

This is a 28% reduction on the previous year.

2018
1009
2017
1405
2016
2979
2015
1196