Blog

The end of the current financial year is 30 June with the new year beginning on 1st July. With End of Financial Year or EOFY quickly approaching, it’s important that you get your tax return checklist together and have the correct documentation to complete your tax return. Here are 5 key things that are required when you lodge your tax return: Payment summaries or Income statements – provided by your employer Bank statements showing interest earnt - if you lodge your tax return online using myGov, the Australian Taxation Office (ATO) may prefill these fields already for you. Records and receipts of work related expenses Records and receipts of expenses and maintenance incurred on investment properties Any other documentation showing forms of income We’ll discuss some key practices to get into the habit of to keep you on top of you affairs during tax time. Record keeping Good record keeping is a must and is a continuous job that has no real end date. Having folders or an organised filing system that clearly labels the financial years containing expenses, deductions and income earnt will make it much easier to find what you need when doing your tax return. The ATO has a myDeductions tool, which is free to use and is available through the ATO app. Income tax deductions you can claim Are you aware of the deductions you can make at tax time? Visit the Australian Tax Office website to see what you can claim. Do you research so that you are not missing out on income tax deductions you could be entitled to. Keeping receipts for work and self-education expenses will ensure you don’t miss out on any deductions. EOFY deals At this time of year, there are lots of sales and specials to entice you into buying things with your tax refund. Cars, technology and whitegoods are some of the popular items going on sale. Before hitting the shops, be sure to check that these are things you need and not just want, otherwise you might be spending dollars you don’t actually have. It might be a good idea to wait until you’ve done your tax return to see if you’re entitled to a refund. Set yourself up for tax return success If you are using a tax agent ask them ahead of time what you need to bring to help them complete your tax return. Keep this in mind for the following year so you are organised and have all your paperwork ready to go. This will greatly help you with your tax return submission and can even save you time with your tax agent. The tax season runs until the 31st October each year. You have until this date to lodge your tax return. If you owe money, your notice of assessment will tell you how long you have to pay. How to best manage tax refunds It can be exciting to see a big lump sum payment hit your account. If you’re expecting a refund, have a think about what that extra money can go to. You may want to put it into a savings account, or contribute to a loan repayment. Be sure to manage your refunds wisely, and plan for the next financial year ahead. Are you planning for the EOFY and need some extra help with your banking needs? Get in touch with the friendly team at Horizon Bank today and let us assist you. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Tips for preparing for a change in interest rates Why do interest rates change? To understand why interest rates change, we'll first talk about the cash rate. The cash rate is a rate set by the Reserve Bank of Australia (RBA) representing the interest that banks and lenders have to pay on the money that they borrow. This rate will rise to try and slow the economy down, or fall to promote economic growth. The RBA's objective is to promote a stable currency, full employment and economic prosperity, ensuring that price growth, or inflation, remains relatively low and stable. Interest rates on the other hand, are what determines the cost of borrowing or lending money. If the RBA raises the cash rate, then it will cost more for banks to conduct business between themselves. Banks and lenders may pass these costs on to consumers in the form of rate rises, meaning anyone who has borrowed money from that institution will be charged more interest. What does an interest rate rise mean? The cash rate has a flow on effect to financial products with variable interest rates, such as savings accounts, variable rate mortgages and personal loans. Learn more about the different types of loans. It also impacts cost of funding for the banks. An interest rate rise means the cost of funding a loan has increased. This can lead to higher repayments, which can leave borrowers with less disposable income, meaning many people may need to look to make savings elsewhere. Interest rate rises can be tough for families and small businesses, as increased mortgage and debt repayments can make life more expensive. On the flip side, depositors enjoy an interest rate rise as they will see a greater return on their savings and term deposits. What is the impact of interest rates rise on mortgages? A rise in interest rates will see your minimum monthly repayment increase. If you’re not sure what this is, you can find out by checking the loan details in your online banking or by asking your lender. If you're on a standard variable rate loan, you'll probably see your rate go up in line with any interest rates rise. It is important to check your loan contract and any other relevant terms and conditions when you first receive your loan offer. Fixed-rate mortgage holders are likely to be affected when they reach the end of the current deal. A rise in interest rates could make a re-mortgage more expensive. It’s important to remember whilst a small rise may not affect your repayments too much, a few consecutive rises could have a significant impact on repayment costs. How do I prepare for an interest rate hike? It’s important to have a financial plan to deal with any potential changes in interest rates. If you’re following the market and have noticed interest rates rising, you can always speak to us about your home loan to see if making extra repayments or switching from variable to a fixed rate would be in your best interest. If you don’t have a home loan with us, get in touch to see if refinancing to Horizon makes good financial sense. Making a plan to cover the next three to six months is a good idea to make your money go even further. Setting a budget and reducing unnecessary spending is a great place to start. Putting extra money towards other debts like credit cards and personal loans will also put you ahead if interest rates rise. Tips for managing an interest rate rise on your mortgage Calculate the impact the interest rate rise will have on your mortgage. Use our loan repayment calculator to get an idea of how calculator to work out the impact. Calculate what you can afford If your mortgage repayments are likely to go up, work out if you're able to afford them. As discussed earlier, you may need to cut unnecessary spending to make up this extra cost. If you think increases are expected to happen in the future, then start saving up enough money now to cover your mortgage payments when they occur. Are you on the best deal? If you have a fixed rate home loan with us, we will be in touch before your fixed term ends to discuss your options. At this point you can lock in a new rate or switch to a competitive variable rate. It’s important to speak to your financial institution first to see if the savings are worth it before switching. Make more mortgage repayments if you can Taking advantage of the lower interest rate environment while you can and paying extra if possible will put you in a better position during a rate hike. It’s important you always check with your mortgage provider before you pay any extra repayments as fees may apply, especially on a fixed rate loan. What happens when interest rates fall? Low interest rate environments tend to benefit borrowers rather than savers. The goal is to stimulate economic growth by making it cheaper to borrow money for large purchases like property. People are willing to make larger purchases and will borrow more, which increases the demand for household goods. A low interest rate environment is great news for homeowners because it will reduce their monthly mortgage payment. This also sees potential homeowners be drawn into the market because of the cheaper costs. The flow on effect is that low interest rates mean more spending money in consumers' pockets. Lower interest rates gives borrowers a break in terms of lower debt repayments and it can also provide an opportunity to get ahead on your mortgage. Unfortunately, people with large deposits in the bank don’t see much of a return on their investment when interest rates fall. To view our current interest rates on our loans and savings products, visit our interest rate page. Horizon Bank is here to help you with your banking needs. If you have any questions or would like us to discuss your needs further please get in touch with our friendly local team today. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Over 50 & Buying Your First Home For many people, buying a home is a major financial commitment. Have you considered buying a house later in life?Are you looking for a way to get out of renting? Are you trying to get into the market before interest rates increase? Whatever your reason, a mortgage could give you the stability you are looking for and get out of the renting cycle. Speak to our friendly team at Horizon bank today. Buying a house at any stage of life is an exciting time. In this blog, we’ll look at the advantages and disadvantages of being a first-home buyer in your 50s, plus some other key tips for property buying in general. Advantages of buying a home in your 50s By this stage of life, you will hopefully have money saved up from years of employment. Savings are essential to put towards a deposit for a home loan and a stronger deposit could potentially enable a higher purchase, opening up your options on the property market. Years of experience will give you more confidence in price and contract negotiations, and a clearer view of the type of property you want. Knowing what you want will also help you plan for the future and give a better idea of future needs concerning mobility and accessibility. Not only will you have secured an asset that can grow in value over the longer term, but you will enjoy the emotional and physical security that comes with owning your own home, as the vulnerability of being a tenant is gone. Disadvantages of buying a home in your 50s If you're looking to buy your first property now, there are some disadvantages to consider before making a decision. This may include reviewing how you live your life and making significant changes that may require some time to get used to, but which could be beneficial for your future. This may leave you feeling out of your comfort zone, however, it is important to remember that everyone leads a different path, and purchasing property is a positive venture. There may be pressure to pay your home loan down quickly if your projected working years is less than the standard 25 or 30-year loan term. It is best to speak with a lender about your options in this regard. If your budget or savings don’t allow for you to purchase in the area you have become accustomed to living in, you may need to evaluate if buying property right now is the right move for you, or if you are better off waiting to purchase where you want to live. If you still have adult children living at home, or elderly parents you care for at home, you may need to work around their needs as well which can be another challenge. First Homeowner’s Over 50 – Essential information Consider how much you can afford The first step is to determine how much you can borrow. Using our borrowing power calculator is a great first step. You should only purchase a home if you can afford the repayments, legal fees, bank fees and any applicable government fees like stamp duty. If you can demonstrate a good savings history, this will help when applying for a home loan. If you’re currently renting, take a look at your budget and see if repayments will be more or less than the rent you currently pay. Consider whether you will be better off making repayments on a home loan and consider where you can redirect any savings. Check your credit score Before you apply for a mortgage, check your credit score. If you find that it needs work, take the necessary steps to improve it. Checking your credit history and credit scores can help you better understand your current credit position. Checking your credit reports regularly can help you become more aware of what lenders might see. Checking your credit report can also help you detect any inaccurate or missing information. Think about how much maintenance you can handle If you’ve been renting, you’ll know it is the landlord's responsibility to fix any maintenance issues around the home. You may have only been responsible for maintaining a yard or small garden. When looking to buy property, think about what type of maintenance you can handle yourself as these expenses become your responsibility as a homeowner. Buying with a family member Plan for different stages and financial challenges in life and consider affordable housing opportunities like buying with a family member. 3 It may suit you and your lifestyle to choose to buy with your children or other relatives in a dual occupancy arrangement. You should do your own research on the pros and cons of buying a property with a family member to understand your rights and obligations. Getting a home loan at any age is a big decision and shouldn’t be taken lightly. This is why there are many things to consider when choosing to buy your first home. At Horizon Bank, we are here to help you with your banking needs. If you have any questions or would like us to discuss your needs further please get in touch with our friendly local team today. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. Frequently Asked Questions What are the benefits of buying property when you’re over 50? Buying a home could give you the stability you are looking for and provides an opportunity to get out of the renting cycle. You also are securing an asset that will increase in value. What can I use to prove affordability? This includes proof of savings or investments, as well as evidence that you have enough income and assets to sustain yourself during the life of your loan and into retirement. What are the key factors in getting a home loan? Demonstrate a good saving history such as a share investment portfolio or other investments. Show a sound borrowing history and demonstrate proof of income. A bigger deposit will open up your options for finance. Consider different markets for affordability and be sure the mortgage suits your situation.  The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Wollongong – the perfect mix of city and beach getaway all in one. Fancy a spending spree? On your trip to Wollongong visit Crown Street mall; this is where you’ll find over 100 specialty shops and major retailers. The Illawarra Performing Arts Centre (IPAC) is the focal point of Wollongong’s Arts Precinct. The IPAC hosts live theatre performances and its grassy forecourt is also a great place to catch live acts and relax with coffee from The Social or nearby Utopia. The Art Gallery is situated opposite the IPAC. It features two storeys of art and installations. A cultural must-see. From the Art Gallery take a walk down Burelli Street towards the beach. You’ll pass the impressive WIN Entertainment Centre. Home of the Illawarra Hawks basketball team and where Australian and International acts play. Right next door to the WEC is WIN stadium. Half home of the St. George Illawarra Dragons rugby league football team. The Illawarra Steelers football club is close by for refreshments or you might like to check out the brewery on the surf side of the WEC. Continue your stroll towards Wollongong city beach. If you walk south you’ll make your way to one of the best located golf courses on the South Coast. Its impressive 19th hole is a great place to meet friends for a meal, drink and a golf story. You’ll enjoy beautiful views of the course, the ocean and Port Kembla. If you head north you’ll make your way along the path up to the lighthouse for more spectacular harbour and ocean views. You’ll see old cannons that once upon time were installed to protect the coast. Wollongong Harbour features Belmore Basin in the centre. It’s a protected bay and safe haven for yachts and commercial fishing boats. It has a children’s playground and lots of places to eat and drink. The walk we’re taking you is called the Blue Mile and along the way there are points of interest signs. It continues past an ocean rockpool and an ocean continental pool. You’ll make your way to beautiful North Wollongong beach. The Novotel on Cliff Road overlooks this beach. While you’re there keep going north and you may be lucky enough to see skydivers land in Stewart Park. Are you game to do the jump? The view would be worth it! At the end of Stewart Park you’ll discover the iconic Lagoon Restaurant. There are lots of other places in Wollongong to enjoy. The Science Centre is a fun interactive way for kids and adults to learn about science. It’s situated in Wollongong University’s Innovation Campus not far from Stewart Park. Nature lovers will enjoy a leisurely walk through the Botanic Gardens. Entry is free and includes a playground for the kids to enjoy. We hope this guide is helpful when deciding what to see and do during your trip to and around Wollongong. Be sure to check out the other NSW South Coast towns featured in our blog. Support the local business and community by visiting these coastal towns this year. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Bermagui is a beautiful fishing hub on the Sapphire Coast with lovely beaches and coastal walks. It is 1 hour and 30 minutes south of Batemans Bay and 1 hour 10 minutes north of Merimbula. We’ve listed many local businesses that you can visit and support on your trip to Bermagui. Strangers in Paradise - founded November 2011, their overflowing lounge rooms morphed  into an emporium selling vintage & second hand furniture, clothes, collectables & photography. Really there is no place like it! Shop7 Artspace - is a gallery that showcases local art. Peruse high quality original art at reasonable prices. Nested on Wallaga - is a beautiful little gift shop in Bermagui They are a long standing business in town with something for everyone. The most gorgeous children’s wear and toys, nightwear, lovely linen and special gifts for all. Bermagui Country Club - Come and have a round of golf on the 18 hole Championship golf course. The club has a range of sporting facilities on offer including tennis, bowls and croquet. Visit the clubhouse where you can enjoy a delicious meal in the Terrace Restaurant for lunch or dinner 7 days a week or enjoy a beverage in the lounge area of the Club. Members and Guests welcome. Bermagui Visitor Information Centre - Make sure you go and see the staff at the Bermagui Visitor Information Centre who will assist you with information on attractions, things to do and accommodation in the local area and the Sapphire Coast region overall. Shop 7 Art Space Nested on Wallaga Strangers in Paradise Images provided by local businesses Bermagui Fishermen’s Wharf Here’s what you’ll see when you visit the wharf Asian Cuisine Restaurant Blue Wave Seafoods Pineapple House – house décor and apparel The Gelati Clinic Il Passaggio Italian Restaurant Marine Rescue Bermagui The Sundeck Café Julie Rutherford Real Estate   Surrounding areas of Bermagui Cobargo Situated just a 30 minute drive west of Bermagui is the country town of Cobargo. Devastated by bushfire in the Summer of 2019/2020, this town is getting back on its feet and is ready to welcome visitors and travelers. Colonial and early 20th century buildings dominate the main street. Enjoy an array of shops, cafes and galleries on whilst walking through town. The Cobargo Markets are held on Saturday. There’s also a self-guided Cobargo Historic Village Walk that has signposts guiding visitors around the village. Tilba You’ll find lush countryside and the striking Mount Gulaga in the National Trust-classified villages of Tilba Tilba and Central Tilba in the Eurobodalla region of the NSW South Coast. Visit the historic timber cottages, browse small shops and galleries, sample local produce and admire gorgeous gardens. If you’re a keen hiker, you can take on Mount Gulaga (formally known as Mount Dromedary) Gulaga is a stunning example of an extinct volcano that rises 797 metres above sea level. The trek up the mountain is a 5 hour, 14 kilometres return hard grade walk. Be sure to check out the other NSW South Coast towns featured in our blog. Support the local business and community by visiting these coastal towns this year. Visit our Bermagui branch page for branch contact details. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Welcome to the Coastal Village of Thirroul … Shoes Optional Laid back, coastal, surfy vibe …. that’s Thirroul to a tee. In fact that could describe the stretch up the coast from Thirroul all the way to the iconic Sea Cliff Bridge and Bald Hill; where daredevils defy the confines of earth and take graceful flight in their colourful hang gliders. But back to Thirroul. Don’t let the busy main street fool you. There are jewels to be discovered along that road and beyond. The coastal village’s main road is divided by the train tracks. Both sides of town offer an enticing wander stopping to shop for home décor, marvelling at the organic artistry of the florist establishments, checking out the cool & chic at various surf shops, stopping for a java jolt at one of Thirroul’s hip coffee joints, or stopping for a bite to eat at one of the many great value restaurants. Thirroul’s Olympic pool and beach is just a short stroll from the main drag. The kids will revel in the interactive park complete with flying fox. Make a bee-line for Thirroul Kiosk. You’ll be hard pressed finding a kiosk/café that’s situated right on the beachfront esplanade. What a view! Living like a rock star. If you’d prefer a view of the magnificent escarpment just look in the opposite direction. Thirroul Beach Park is a wonderful place to picnic, play with the kids and relax. It’s surrounded by giant Norfolk Pines that provide natural sun-dappled shade. If you’re into lawn bowls, check out Thirroul Bowling & Recreation Club. This one is a bit of a hidden gem. It’s close to the railway station and football field. It features a floor to ceiling glassed veranda where you can enjoy a cold one of your choice and watch the strolling rolling athletes do their thing. This sleepy little town has a lot going on when the sun goes down too. There are plenty of drinking holes to choose from … two pubs, a club and trendy wine bars galore. If you’re after something to fill another hole there are Thai, Asian-fusion, Mexican, seafood and pizza restaurants just to name a few. If you’re planning an overnight stay you should really see what live entertainment is going on at the historic Anita’s Theatre. This is a gorgeous old girl that was restored to her former glory. It attracts sensational Australian and international acts. Thirroul has a lot to offer any time but it’s at its best on the first weekend of April when it celebrates THE event of the year … the Thirroul Seaside & Arts Festival. The Festival features a prestigious art show, artisan markets, carnival rides, food trucks, petting zoo, moonlight movie, arts displays, live music and dance. It’s a colourful community cavalcade. Shoes optional. We hope this guide is helpful when deciding what to see and do during your trip to and around Thirroul. Be sure to check out the other NSW South Coast towns featured in our blog. Support the local business and community by visiting these coastal towns this year. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Page header image credit: Howard, Flickr Nowra is the largest coastal town in the Shoalhaven region. It’s just over an hour’s drive south of Wollongong, and just under an hour north of Ulladulla. Sitting right on the Shoalhaven River, Nowra is close to beaches, wineries and bush walks. It’s also a central place where you can easily access other parts of the Shoalhaven including Berry, Shoalhaven Heads, Greenwell Point, Jervis Bay and Huskisson. Things to do: Shoalhaven Regional Gallery Shoalhaven Zoo Djiriba Aaagura cultural tours – group or intimate tours showcasing Aboriginal history in the Shoalhaven. Best places to eat Tea Club Elephant Thai Penzo’s Pizza & Gelato Bar Hyper Hyper coffee Berry Donut Van Coolangatta Winery Pelican Rocks Cafe Images provided by local businesses Berry Just a 20 minute drive north of Nowra, the town of Berry is where you can enjoy top restaurants, heritage buildings and elegant places to stay, on the doorstep of welcoming wineries, wonderful walks and scenic drives. The main street is filled with cafes, bakeries and quaint little shops. Check out IV Coffee for the perfect brew as you wander through. Shoalhaven Heads Shoalhaven Heads has a range of attractions including Two Figs, Coolangatta and Mountain Ridge wineries. Greenwell Point Greenwell Point is located on the coast east of Nowra and is one of the leading seafood ports in the Shoalhaven. Enjoy some hot chips and fresh local seafood by the water after a play at the park. The local Pelican Rocks Fish & Chips won the award for best Fish and Chips in NSW in 2017. The local oyster farms here provide an indulgent oyster feast – shucked while you wait or freshly packed and chilled. Huskisson and Vincentia Booderee National Park has crystal-clear waters, beautiful white sand beaches and high cliffs that overlook the Pacific Ocean. Visit the National Park for the wildlife expansive botanic gardens. Visit the Jervis Bay Brewing Co. Sit back and relax in the taproom or beer garden with a craft brewed beer. Check out their website for food truck availability. We hope this guide is helpful when deciding what to see and do during your trip to and around Nowra. Be sure to check out the other NSW South Coast towns featured in our blog. Support the local business and community by visiting these coastal towns this year. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Page header image credit: Sam Ilić, Flickr A trip to Ulladulla is the perfect way to relax and unwind. When you’re in the area, you’ll find plenty of places to do some shopping. Be sure to check out Southern Man Surf Shop. It’s the biggest and most iconic surf shop in the area. Events Arguably the biggest event of the year is the Ulladulla Blessing of the Fleet Festival and street parade held each Easter. Get amongst the community atmosphere and enjoy all the festival has to offer. Best places to Eat Rick Stein at Bannisters is a modern seafood restaurant situated right on the water in Mollymook. Cupitt’s Winery – a family owned vineyard and restaurant with delicious food and wine. Enjoy a quiet lunch whilst overlooking the rolling green hills and vineyard. Hayden’s Pie Shop – for fresh and tasty baked goods, make sure you pull into Hayden’s situated conveniently right on the Princes Highway. Landmarks and things to do Mollymook Beach – a 2km stretch of beach where you can spot dolphins frolicking in the surf. Enjoy the views from the Mollymook Beach Bowling & Recreation Club or one of the cafes overlooking the beach. Ulladulla Harbour – a great spot to relax and watch the fishing boats come in with their catch of the day. Gondwana Coast Fossil Walk – take a guided fossil walk starting from Ulladulla harbour and look back in time 270 million years. We hope this guide is helpful when deciding what to see and do during your trip to and around Ulladulla. Be sure to check out the other NSW South Coast towns featured in our blog. Support the local business and community by visiting these coastal towns this year. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

Now that regional travel is allowed for NSW residents, we’re encouraging people to visit some of the beautiful towns along the South Coast. In this blog post, we’ll talk about Albion Park and all it has to offer. Local attractions Ravensthorpe Guest House and Restaurant – Great for a high tea, lunch or dinner, Ravensthorpe Guest House & Restaurant is the ideal place to eat and enjoy fine dining. You can also stay overnight and enjoy the beautifully kept grounds, pool and tennis court. The HARS Aviation Museum - The HARS Aviation Museum is an all-volunteer group of Aviation Professionals and Enthusiasts. The museum provides the unique opportunity to access many aircraft and to see restorations in progress. Macquarie Pass National Park – Enjoy the picnic area and bushwalks that the national park has to offer. The open grass areas are perfect to kick back on a rug and relax. Illawarra Light Railway Museum - Provides a place for public exhibition of light railway locomotives and rolling stock, along with other related items of historical interests. Illawarra fly tree top adventures – Accessible from Jamberoo mountain road, you can take a walk through the treetops or do a zip line tour. Best places to eat in Albion Park Joe’s Milkbar – Old school burgers, thick cut chips, donuts and coffee. What more could you want? Located in Albion Park shopping village there’s plenty of parking and quick service. Blue Jay Café – Kick back with a hot coffee and take in the views of the breathtaking escarpment right in front of you. Blue Jay has ample outdoor seating and is a great place to take the kids with a small grass area for them to play. We hope this guide is helpful when deciding what to see and do during your trip in and around Albion Park. Be sure to check out the other NSW south coast towns featured in our blog. Support the local business and community by visiting these coastal towns this year. Want to get in touch? Visit our Albion Park branch for contact details. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

At some point you’ll probably need a loan for something whether it be a holiday, car, credit card or home purchase. One of the ways a lender will assess your application is by looking at your credit history. This is why understanding what your credit report and credit score says about you is important. What is a credit score? Many people use the terms “credit score” and “credit report” interchangeably however they are two different things. Your credit report contains a summary of your financial history, while your credit score is included in the report and reflects how reputable your financial history is. Credit bureaus such as Equifax hold credit report information. A credit report is created when a bank or other credit provider submits a request for information. Why do I need a credit report? Having a credit report and score will assist you in applying for a loan or credit card as lenders can use this as one indicator of your ability to repay. Credit reports can also be used by landlords when deciding who to rent their property to, and by employers as part of their hiring process. How do I build a credit report? Credit reports can be created when you have a utility account in your name and the provider runs a credit check. These include phone, gas, electricity and internet accounts. These are considered credit accounts, so if you default on payments for these, it will be listed on your credit report. How do I access my credit report? Visit the ASIC money smart website for a list of sites where you can access your credit report once per year for free. Be wary of websites asking you to pay for your credit report as this could be a scam. Requesting your credit report more than once per year may attract a fee from credit reporting bureaus. What is included in your credit report? Personal information and contact details are included. How long you’ve been at your current and previous address is also on there. Other things that make up your credit report include: Type of credit provider. Different lenders have different levels of risk. For example a non-traditional lender such as store finance may have a different level of risk than a bank or credit union. Size of credit requested. Both the type and size of the loan or credit limit you’re requesting can affect your credit score. Mortgages have a different level of risk compared to credit cards. Number of credit enquiries. Every time you apply for credit, the credit provider obtains a copy of your credit file and the application is noted. The pattern of credit enquiries over time also affects the level of risk. This is considered a red flag for credit providers. Directorship information. If you’re a director or proprietor, it may impact your score. Check both the individual and commercial sections of your credit file to see what is noted. Age of credit file. Check the date your credit file was created. A new file may indicate a different level of risk compared to an older file. What stays on your credit report? Default information. Any personal or business credit such as overdue debts or serious credit infringements could negatively affect your score. Court writs. Default judgments or court writs may convey you as an increased risk and negatively impact your score. Bankruptcy: if you declare bankruptcy, this will stay on your report for 5 years starting from the day you declare bankruptcy or 2 years starting on the day you were no longer bankrupt. Debt agreement: Entering into a debt agreement is where you negotiate to pay a percentage of your combined debt that you can afford over a period of time. Payments are made to your debt agreement administrator. These agreements remain on your credit report for 5 years from when the agreement was made or 2 years from the day the agreement is completed or declared void. What is a good credit score Earlier on we mentioned credit bureaus hold your credit report information. They also determine your credit score differently. Generally, the higher your credit score, the better it is. Below is a breakdown of how Equifax evaluate your credit score as an example. Looking at the table, a score between 833 and 1200 gives an excellent score which means it is less likely that a negative event (related to repaying a debt) will be recorded on your file in the next 12 months. This means you are in the top 20% of the credit-active population and will appear as less of a risk to lenders. A below average (0-509) score means you’re in the bottom 20% of the credit-active population and are unlikely to be approved by reputable lenders. Source: Finder.com.au Improve your credit score Fixing issues on your credit report When you receive your credit report, you can contact the credit bureau you received it from if there is any incorrect information. Only incorrect information can be removed. If all of the information is correct but your credit score is still low, there are steps you can take to improve your score. How do I fix my credit score? Consolidate your debts into one easily managed personal loan if possible. Consider entering into a debt agreement to pay off multiple debts. You can read more about debt agreements on the Australian Financial Security Authority’s website. Lower the limit on credit cards if you are not reaching that limit with your spending. Avoid a default notice by making payments within 60 days of when they are due. Default notices of $150 or more remain on your credit report for 5 years. Limit the number of credit enquiries you make. Multiple enquiries for credit made within a short period are recorded on your credit report and are considered a red flag to lenders. Seek help from a financial counsellor to help you work out a plan for paying down your debts, through disciplined spending and saving. Use of financial counselling services is not recorded on your credit report. Thinking of applying for a loan or credit card, but want to know more about your credit report first? Get in touch with us today, we’re here to help. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.