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Next month, after more than two decades of exceptional service and leadership, Horizon's CEO, Jon Stanfield will pass the CEO baton to Mitch Cooper. Jon Stanfield's journey with Horizon began in September 2003 when he joined as Corporate Services Manager. In June 2004, he was appointed General Manager during one of the most emotionally challenging periods in our organisation's history, following the tragic passing of then-General Manager Simon Whiteman. Jon's steady hand and empathy ensured Horizon's stability during that difficult time. Throughout his tenure, Jon's leadership shone brightest in times of adversity. He has guided Horizon with clarity and resolve. Among Jon's numerous achievements include: Leading Horizon through the two global crises: Global Financial Crisis and the COVID-19 pandemic Overseeing two mergers – Eurobodalla Credit Union & Lysaght Credit Union Relocating four branches to the centre of their towns reinforcing our community focus – Moruya, Nowra, Ulladulla & Bega Rebranding to Horizon Bank to attract young members Opening a new branch in Berry Throughout, Jon remained a humble and dedicated leader, often reminding us that we are all custodians of Horizon. His stewardship has been marked by integrity, thoughtful decision-making, and an unwavering commitment to our values and community. As Jon steps away from his role, we warmly welcome Mitch Cooper as Horizon's new CEO. Mitch’s career with Horizon spans over 20 years with experience across retail banking, lending, finance, treasury, risk, and project management. His deep understanding of our organisation, members, and values, along with his extensive experience makes him the ideal person to lead us into the future. Horizon Bank enters this new chapter with gratitude for Jon's outstanding service and full confidence in Mitch's capable hands. We look forward to the journey ahead. Thank you, Jon. Welcome, Mitch. Viktor Tomeski, Chair

"Horizon Bank has the lowest variable home loan rate" ABC News

“Horizon Bank has the lowest variable home loan rate”[1] ABC News “Horizon Bank has come up trumps with the sharpest new variable rate in the country” [2] Australian Broker “Horizon Bank now offers the lowest variable rate on the market” [3] Yahoo Finance “Horizon Bank has taken the title of the lowest variable rate lender in the market with a first home buyer loan. Horizon Bank has outdone its competitors, offering a new record low variable rate” [4] Canstar Finance News   In a significant development for prospective homeowners, Horizon Bank has been recognised for offering the lowest advertised variable home loan rate in Australia!   This competitive variable rate of 5.24%p.a. is specifically tailored for first-home buyers who can provide a 30% deposit. Financial comparison platforms have highlighted Horizon Bank's offering. Canstar reported that Horizon Bank has taken the title of the lowest variable rate lender in the market with this 5.24%p.a rate. Similarly, Mortgage Professional Australia noted Horizon Bank's emergence with the lowest advertised variable rate currently available. In the current lending environment, many banks have adjusted their rates following the Reserve Bank of Australia's recent cash rate cut. While major banks like CBA, Westpac, NAB, and ANZ have reduced their rates, Horizon Bank's offering remains notably lower. For instance, CBA, Westpac, and ANZ have rates starting from 5.59%, but these are often limited to digital-only or refinance products. Horizon Bank's current variable home loan rate positions it as a leader in the Australian mortgage market, especially for first-home buyers. With industry recognition and a clear commitment to customer value, Horizon Bank offers a compelling option for those entering the property market.   [1] CBA customers hit by transfer glitch, ASX finishes the day higher — as it happened - ABC News 30 May 25 [2] Lenders slash home loan rates as competition heats up | Australian Broker News Mina Martin 3 June 25 [3] CBA, NAB, ANZ pass on RBA interest rate cut today as Westpac’s $2.4 million a day ‘boon’ exposed 30 May 25 [4] Lowest variable rate hits 5.24% following rate cuts | Canstar 30 May 25 The comparison rate is calculated on a loan amount of $150,000 over a term of 25 years. WARNING: * This comparison rate is true only for the example given and may not include all fees & charges. Different terms, fees or other loan amounts might result in a different comparison rate. Terms and conditions, fees & charges apply and are available on application. Approval conditions apply. The loan is secured and the rate is variable. Owner occupied only. All borrowers must be first home buyers and must have not previously purchased property in Australia. Terms and Conditions, fees & charges may apply & are available on request. Horizon Credit Union Limited ABN 66 087 650 173 AFSL and Australian credit licence number 240573 trading as Horizon Bank. 27 Stewart Street, Wollongong NSW 2500. Information correct at 3.6.25 subject to change.

Software Update Required for Horizon Bank App

Having trouble accessing the app or website? Check for a software update. Some members using mobile devices with older operating systems may see an error message like:“Error – We're sorry, there appears to be a problem.”This is due to a recent security certificate update. While our certificates remain valid and secure, certain older devices are no longer able to recognise this update, which may prevent access to our app or website.Devices affected include:• Android versions 10 to 13• Apple iOS version 15 and earlier How to fix the issue: In most cases, updating your device’s operating system to the latest version and restarting your device will resolve the problem.For Android devices:1. Open Settings.2. Tap Software Update or System Update (this may vary depending on your phone model).3. Select Check for Updates.4. If an update is available, follow the steps to install.5. After updating, restart your device. For iPhones:1. Open Settings.2. Tap General.3. Select Software Update.4. If an update is available, tap Download and Install.5. Once complete, restart your device. We’re sorry for any inconvenience and appreciate your understanding. If you still experience issues after updating, please contact us for further assistance.

Loans

Introducing Our First Home Buyer Loan

We understand that buying your first home is a significant milestone, often referred to as "the great Australian dream." We’re excited to announce the launch of our First Home Buyer Loan, designed specifically to support our young members in making this dream a reality. Our new First Home Buyer Loan offers a competitive interest rate, making it more affordable for first-time buyers to enter the property market. In addition to this attractive rate, we’ve waived establishment fees, and there are no monthly or annual fees associated with the loan. This means more savings for the borrower as they embark on their homeownership journey. Our dedicated lending team are here to assist every step of the way, ensuring a smooth and stress-free experience. If you know someone who’s ready for home ownership, please send them our way. We pride ourselves on exceptional customer service and are committed to helping our members’ dreams come true.

Loans

RBA Interest Rate decrease May25

In response to the Reserve Bank of Australia decision on 20 May 2025 to reduce the cash rate by 0.25%, Horizon Bank will be passing on the full benefit of this interest rate cut to our variable rate residential mortgage borrowers. This 0.25% decrease will take effect on 1 June 2025. We hope that this decision will help ease the cost-of-living pressures for our borrowers and provide some financial relief during these challenging times. If you have any questions or would like more information, please do not hesitate to contact your local branch.Thank you for your continued support of Horizon Bank.

Security

Control your own transfer limits

Exciting News! We’re thrilled to introduce a feature you’ve been asking for: the ability to adjust your daily transfer limits directly through Online Banking or the Horizon Bank App! Now, you can set daily limits for each transaction type, including external transfers, international transfers, NPP (OSKO), and BPAY. Whether you need to increase your limit for a big purchase or lower it for added security, you’re in control! Click here for more information

Scams

Voter warning

Voter warning: Scammers likely to target Australians this federal election With the upcoming federal election, the Customer Owned Banking Association is urging Australians to be alert against scammers. “Election periods are an opportunistic time for scammers due to heightened public interest and sense of urgency, and the only way to truly protect yourself is to be vigilant with any type of unsolicited contact – even if it looks legitimate,” COBA Head of Financial Crimes and Cyber Resilience Martin Latimer said. “We anticipate a rise in scammers targeting voters, falsely requesting personal information for purported electoral roll updates. We also often see a rise in text messages or emails claiming to be from candidates, encouraging you to click on a link to learn more, which can download malicious software onto your device,” he added. Phishing scams are designed to obtain your personal information or get you to click on malicious links. The scammer’s goal is to obtain personal information, such as usernames, passwords, and credit card details. Scammers often impersonate trusted entities including official government agencies, targeting individuals through emails, phone calls, or text messages. The emails and websites they use are designed to look legitimate, often mirroring the branding and logos of the companies or institutions they're imitating. They also often use urgent language including ‘Immediate action required’ or ‘Failure to Vote penalty warning’ to pressure targets into acting quickly without thinking. “Never click on links in unsolicited text messages or emails, and don’t open attachments from unknown senders – they may contain malware,” Martin advised. “Even when a message seems to originate from a reliable source, do not rely on the provided contact details. Instead, separately access the organisation’s official website and confirm the sender's information there,” he added. If you have been scammed or encounter a scam, report it to ScamWatch.gov.au to help protect others. Always remember to ‘Stop. Check. Protect’. Customer-owned banks are dedicated to safeguarding their customers from scams and fraud. Find out more about the banking industry’s Scam-Safe Accord here, an initiative that represents a united front against scammers and reinforces the banking sector's determination to strengthen consumer protection.  

Why your money is secure with a customer-owned bank

Why your money is secure with a customer-owned bank With financial security a growing concern, over 5.4 million Australians trust customer-owned banks. Credit unions, mutuals banks and building societies prioritise member security, going beyond standard protections to ensure your hard-earned money remains safe. The following three mechanisms illustrate how customer-owned banks provide peace of mind banking. Government guarantee At the core of keeping your money safe is the Australian Government's Financial Claims Scheme (FCS), which provides protection to deposit-holders with all Australian incorporated banks, building societies and credit unions (known as authorised deposit-taking institutions or ADIs) in the unlikely event that one of these financial institutions fails. The FCS is a government-backed safety net for deposits of up to $250,000 per account holder per ADI. Strict regulatory oversight Furthermore, customer-owned banks adhere to the same rigorous regulations as major banks. Government regulators, including APRA and ASIC, hold customer-owned banks to the same high standards as major banks. The sector also adheres to the Customer-Owned Banking Association's Code of Practice, a commitment to principles designed to safeguard your financial well-being. The Code establishes higher standards than the law requires and reflects the customer-owned banking sector’s commitment to serving the interests of its customers. Industry-wide anti-scam initiatives   Customer-owned banks are dedicated to protecting their customers from scams and fraud. Demonstrating a proactive approach to combating scams, COBA and the Australian Banking Association (ABA) launched the Scam-Safe Accord in November 2023. This initiative outlined a comprehensive strategy to disrupt, detect, and respond to scams. A recent report from the National Anti-Scam Centre (NASC) shows scam losses declined in Australia for a second consecutive year, with a 25.9% decrease from 2023. Australia is the only country in the world where scam losses are declining.

Member Survey Winners March 2025

Congratulations to the following four members who have been notified that they are the winners of a cash prize of $250 for completing our Member Survey. G Smith - Bega J Scarlett - Wollongong P Mckenzie - Pambula J Coggan - Mount Pritchard We appreciate you taking the time to provide us with the feedback and helping us make a better Horizon for you.

Loans

Melbourne Race Weekend Competition Winners

What a weekend it was! The four major prize winners just enjoyed the ultimate Melbourne Race Weekend experience, thanks to Visa. A big congratulations to the winners—a passionate author, who is writing a book about race cars and now has real-life inspiration; a dedicated police officer who shared the thrill with their partner; a 19-year old motorsport enthusiast who made unforgettable memories with his dad; and a hardworking plumbing business owner, who took a well-earned break at the track. We also congratulate the secondary prize winners, who received exclusive Visa merchandise and racing-themed goodies.

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