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Benefits of Loan Pre-Approval   Making big purchases, like a new car or home is exciting! It also requires thinking about your situation and choices carefully. You may also need to act quickly when necessary, which can be tricky. A fast loan pre-approval is a helpful tool that can make this process easier. It increases your chances of buying what you want before someone else does and takes some of the stress out of these monumental decisions!   What's Conditional Pre-Approval? Conditional pre-approval is like a signal from a lender. It tells you that you can ask for a loan up to a certain amount. But you don't have to take the loan, and the lender doesn't have to give you that much money. However, it tells a seller that you're serious about buying and that you're sure you can pay for what you want. To figure out how much you can borrow, the lender looks at your financial situation and the price range of whatever it is you want to buy.   Why Consider Pre-Approved Loans? Conditional pre-approval not only shows sellers that you're serious about buying, but it also helps you with your finances and budgeting once you find what you want. If you're just starting to think about buying a home for example, getting a swift pre-approval helps you look for homes that you can more likely afford. It gives you an idea of how much money the lender might lend you. If something changes while you're looking – like your money situation – you can update your pre-approval.   How to access Fast Loan Pre-Approval from Horizon Bank? You can apply for a loan online, pop into your local Horizon branch, or give us a call and talk to a lender. Here's what you should know: The price range of what you want to buy If you've saved money for part of the purchase How much you earn How much you spend on living expenses   How Long Does Loan Pre-Approval Last? When pre-approved for a loan, the pre-approval generally will last for two months. Need longer? No stress! We just need to revisit your documents to give you more time. Speak to your lender to learn more about the duration of your individual pre-approval.   Time to Buy, What Happens Next? Once you find what you want to buy you just provide the details to the lender and seek formal approval. This significantly reduces turnaround time in order for you to make your purchase quickly.   With 10 branches located in Thirroul, Wollongong, Albion Park, Berry, Nowra, Ulladulla, Moruya, Bega, Bermagui and Merimbula, we have got the NSW South Coast covered. Not a local? Not a worry! Reach out to us by filling in an online application form and we’ll assist you over the phone and email.

What is a Loan? A loan is an agreement between two parties, where money is given in exchange for repayment of the loan principal amount plus interest. Loan terms are agreed to by each party before any money is advanced. A loan may be secured by collateral such as a mortgage or it may be unsecured such as a credit card or personal loan. There may be additional costs for taking out a loan including establishment fees, annual or monthly fees and solicitor or conveyancer fees if requires. A loan can be set at a fixed amount, or it could be available as an ongoing line of credit up to a maximum amount. There are various types of loans available including secured, unsecured and commercial a loans. Horizon Bank has been serving customers since 1964. You can learn more about our history on our website. Our goal is simple: To provide our members with the highest level of service while offering competitive loan rates and terms. We know the importance of accessing quality financial services. That's why Horizon Bank offers several ways to access money when you need it. Whether you're planning for an upcoming holiday, paying off debt, or buying a car, Horizon Bank has what you're looking for. At Horizon Bank, we offer a range of home loans, mortgages and home loan refinancing options at competitive rates. We can assist in helping you achieve your financial goals in a way that suits your needs. Compare our home loans Our experienced team of professionals will guide you every step of the way. We understand that life happens, and when it does, we'll also work to find solutions for unexpected situations such as changes to employment or family dynamics. Horizon Bank understands that sometimes things come up that require immediate attention. That's why we have 24 hour, 7 days a week online banking access. You can check balances, transfer funds, pay bills and manage your loan. If you prefer to speak to a real person, we've got friendly staff who are ready to handle your queries. Contact us today! Key Points: A loan is an agreement between two parties where one gives up something (the principal) in return for receiving something else (interest). Loans can be for a fixed amount or a continuing line of credit. A line of credit gives consumers access to cash at competitive rates without paying back the entire balance upfront. Why do you need to understand loans? Loans are a form of debt incurred by individuals or entities. A bank lends money (or credit) to use at their discretion. If you agree to these terms, you're agreeing to pay back the loan plus finance charges and interest. This is why it’s so important to understand loans. Let's take a look at how the loan process works. When one applies for a loan, a lender might ask borrowers questions including the purpose of the loan, whether they've had any previous loans, if there are any liens against them and what their existing expenses are. A lender may require collateral to secure a loan. Examples of collateral include savings, an existing mortgage or a motor vehicle. Before approving a loan application, an experienced lender will evaluate a borrower's credit history and income level. Depending on the applicant's creditworthiness, the bank either refuses or grants the loan request. When a bank denies the loan application, they will generally provide a reason. Once an application has been submitted for approval, both parties agree upon its terms. After receiving the funds from the bank, the borrower has to pay back the entire amount plus any additional fees and interest charged by the bank, in either weekly, fortnightly or monthly instalments. What types of loans does Horizon Bank offer? Loan Types Home Loan A home loan, also known as a mortgage is an amount of money borrowed from a lender (usually a financial institution) so that one may buy property, such as a house, apartment or townhouse. At Horizon Bank, a mortgage is usually for a fixed length of time (25–30 years). A minimum monthly repayment is calculated on the principle amount and the interest rate. A loan agreement between the lender (Horizon Bank) and borrower will specify when repayments must occur, which may be weekly, fortnightly or monthly. Find out how to choose a home loan Investment Loan An investment loan is simply another name for any type of loan used to fund the purchase of an investment property. Horizon Bank offers both principal and interest and interest only investment loan. With principal and interest Investment Loans your monthly payments go toward both your interest costs and your loan balance. You will, over time, pay off the debt. An interest-only loan, is a loan where you pay only the interest on the loan and not principal. This will mean lower monthly payments for a fixed period but you’re not paying down the debt. Eventually, you're required to pay off the full loan either as a lump sum or with higher monthly payments that include principal and interest. Five things to consider before purchasing an investment property Car Loan Horizon’s Car Loans are loans taken out so that people can buy cars, motorbikes, caravans & boats. Car loans allow you to borrow a specific sum of money to buy a new or used motor vehicle or other motorised recreation vehicles listed above. You repay the bank by paying back some of the principal amount plus interest. To repay the car loan, you must complete the repayments over the term of up to 5 years, agreeing to repay the loan usually in monthly payments. At Horizon, you can repay the loan earlier than the fixed period without penalty. You’ll pay back not just the principal but also any interest charges too. Our Car Loan Calculator works out roughly how much the repayments are over the term of the loan, but it’s ideal to have a chat with one of our professional lenders. Here’s how to apply for a car loan with us Personal Loan Personal loans are a way to borrow money for personal use. A personal loan gives you access to an immediate lump sum of cash when you need it most. Personal Loans are unsecured. That is, no collateral is required because loan amounts are generally relatively small (relative to a home loan for example).Personal loans are usually, but not limited to, used for consolidating debt, paying for a holiday, or buying whitegoods and furniture etc. Borrowers then repay their loans by paying off the principal balance plus any accrued interest at regular intervals throughout the life of the loan. There may be additional charges, such as an administrative charge, monthly fee or late payment penalties if you don't repay your loan by its due date. What you can buy with a personal loan Credit Facilities Visa Credit Card information A credit card is a way to borrow money or access ‘credit’ from a financial institution. The credit card has a set amount of funds called a 'limit’. This limit is set when you apply for a card. Credit cards are widely accepted and can be used to make purchases over the counter, online or over the phone. Like all debts, you need to repay the credit card. A Credit card has an interest rate, which apply to amounts that you haven’t paid back. There’s a minimum monthly repayment and cards may attract an annual fee. It’s important to consider whether you can afford the repayments on a credit card before you apply. Tips on applying for a credit card Line of Credit At Horizon Bank, our line of credit product is called a Budget Overdraft. This line of credit has a set limit, but is a continuing credit product, which means there is no set end date you need to repay it by. You only pay interest on what you use. For example, if your line of credit is set at $5,000, and you have only used $2,000 in the month, you will only pay interest on $2,000. Loan Calculators Loan Repayment Calculator  Personal Loan Calculator  Car Loan Calculator Borrowing Power Calculator Purpose Loan type Buying furniture Budget Personal Loan Going on holiday Line of Credit Upgrading your car New Car Loan Buying a home Home Sweet Home Loan Buying an investment property Value Plus Residential Investment Loan If you’re looking to purchase a home, investment property, car, motor bike, boat, caravan or any other item that requires a loan, contact us today! We offer quick answers on applications, competitive rates and flexible terms so you can make it happen as soon as possible. As a customer-owned local bank on the South Coast and Far South Coast, we work hard to earn your trust. That means we’ll always do everything to ensure you receive the best customer service possible. If you ever need someone to talk to about anything related to your account, please get in touch with our friendly and local based team. 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. 

Popular Personal Loan Uses A personal loan can help you achieve your financial goals. Whether it’s to take back control of your finances by consolidating debt or achieving your vision for home improvement. Wondering how you could use a personal loan? We share three ways in our latest post. We’ll also touch on the difference between a secured personal loan and an unsecured personal loan. Making home improvements Home is definitely where the heart is and that also means it is important not to put off updating the spaces that need it. Any time is a great time to refresh your home and make improvements to those rooms that no longer suit your needs. If you’ve got an outdated kitchen, or a drab and dreary bathroom, a personal loan can help you fund the costs of renovating these spaces. If you can see yourself working from home long term, properly fitting out a study or home office may be a great idea to create a productive environment. If you’re not quite ready to begin knocking down walls, purchasing new furniture can lift a room and give it a contemporary and refreshed feel. Consolidating debt Having multiple loans, credit cards and store cards makes managing repayments tricky. Instead of paying off multiple debts at high rates of interest, you may want to consider a personal loan for consolidating debt. This is where all of your debts are brought together into one loan. When you consolidate your debts, you have one loan and one repayment instead of multiple repayments that may seem overwhelming. Using a personal loan to consolidate debt helps you better manage repayments more effectively. It also allows you to budget and save more effectively. Read more about debt consolidation. Ask us about debt consolidation Purchasing new appliances If you’re in a situation where you need to suddenly buy a new washing machine (or other appliance) but don’t have the funds available, a personal loan can help. We can generally provide an answer on a loan application within one business day, so you won’t be left high and dry. With a personal loan, you can purchase major household appliances and electronics immediately, rather than waiting months to save up for them. Be wary of quick finance approvals from small lenders that offer interest free loans or other incentives that seem too good to be true. You could find yourself in more debt which will adversely affect your credit score if you’re unable to repay. Whatever you're planning to do, a personal loan from Horizon Bank could be the perfect way to make things happen. To find out more about our different personal loan options, get in touch with one of our local branches today and see if there's one that's the right fit for you. View our Personal Loans How Personal Loans Work If you’re ready to update your kitchen, bathroom or refresh another part of your home, you can easily apply online here. Remember, personal loans are also a great way to consolidate debt. If you have many store cards, credit cards and other personal loans at other financial institutions, consolidating them into one easily manageable loan may be in your best interest. Send us an enquiry and a lender will be in touch to discuss your personal circumstances and current loan rates. Like any loan, when you apply for a personal loan you’ll be assessed against eligibility criteria to ensure you can meet your loan repayments. Once your personal loan has been approved, you've accepted the offer, and all loan conditions have been satisfied, your loan account will appear in your Online Banking. Once the loan is funded and appears in your Online Banking, you’ll see when the first repayment is due. You can make payments weekly, fortnightly or monthly. Making repayments line up with when you receive your pay is a good way to ensure you always meet your repayment obligation. Secured personal loan options You can secure your loan with the equity you have in your home, a vehicle or with savings you already have. A secured loan will give you a lower interest rate which means your repayments will be lower as well. You may be able to borrow more because you are using collateral to secure the loan. If using an asset to secure your loan, there may be value assessments and additional proof and documentation that needs to be organised before your loan is funded. Keep in mind, that the amount you can borrow may not be one-to-one with your assets value. For example, using a vehicle worth $30,000 as security may not result in a $30,000 loan. View our Secured Personal Loans Frequently Asked Questions What can I use my loan for? You can use a personal loan for going on holiday, purchasing new furniture or white goods, undergoing home renovations, consolidating debt or any worthwhile purpose. What documents do I need to apply for a personal loan? Documents include but are not limited to providing evidence of income, which usually means your most recent pay slips. Proof of identity and citizenship or residency as well as a list of expenses, which can be identified from your statements. How long does it take to apply and how fast can I get my loan? Completing a personal loan application online is convenient and easy. Having the right information on hand will help you complete your application quickly. We pride ourselves on giving fast answers on loan applications, so long as all the relevant documentation has been provided and the applicant meets credit criteria. What will my repayments be? Your repayment amount will depend on how much you borrow from us, your interest rate, and how often you make repayments. Use our repayment calculator to give you an idea of what the repayments would be. It’s always better to have a chat with an experienced lender who can lead you through the process and answer any questions. Contact us and one of our lenders will be in touch. Speaking with a lender is the best way to determine the right loan for 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.

Cost saving tips for renovating on a budget There’s no better reward and satisfaction than taking a step back at the end of a renovation to admire your hard work. Whether you’re looking to update a few features or plan on stripping an old room down and creating something from the ground up, read on for our top cost saving tips whilst renovating. Your renovation on a tight budget Improving the aesthetics and functionality of your home will require money to be spent so it’s important to prioritise where to spend your money. You want it done properly so instead of spreading your funds across two or three areas in your home, consider putting all of your available funds into one space that needs the most work and that you and your family will get the most out of. To start off, use our budget planner calculator to see what extra money you have to put towards your renovation.  If you need a helping hand a Horizon personal loan can help to cover all or some of your renovation costs. Get your design right Getting the design right from the get go will reduce your waste and therefore the cost of removing it. In the long term, an environmentally friendly design that allows for natural light and ensures the house is properly insulated will also reduce your heating and cooling costs. Look for ways to save Taking DIY lessons before you start renovating will give you a basic understanding of tools which means there could be some jobs you can do yourself rather than paying someone else to do. This will not only save time and money but will give you practical skills for use in future.  Keep it simple, as changing major structures or moving plumbing are examples of things that are likely to blow out your renovation budget. There’s no shame in getting a professional in. Not only do they have experience, they also have the right tools for the job. You might find that if you DIY it, you’ll need to shell out for expensive tools you won’t need beyond the job. Shop around for fixtures and fittings This takes a bit of time but sourcing your taps, light fixtures etc online or from wholesalers could save you money in the long run. Do your research on materials that will last a while and improve the quality of your home. Keep an eye out for sales and discounts along the way. Include the costs of fixtures and fittings in your budget planner or expense manager to keep track of all the items you’ll need for your renovation. Make sure you have all the essential materials and fixtures you need before starting the job. This will help you avoid inconvenient delays. Gather friends and family together Many hands make light work. Ask family and friends to lend a hand during the clearing out, demolishing and labour intensive parts of your renovations to save money on tradespeople.  Keep track of invoices and quotes This is where a budget planner or expense manager is really useful to keep on top of what you were quoted for versus what you actually end up paying. This keeps tradespeople accountable and also helps you remember where you sourced your fixtures and fittings from for any warranty claims. The important bits to take away Start by understanding all the associated costs of your renovations. Make good use of budgeting tools to help prioritize these to create a home remodel budget you can work with. Seek advice from licensed trades people and kitchen or bathroom designers to make a fully informed decision. Allow time for the planning, setup and installation of your new rooms and have a plan B if you can’t use your bathroom or kitchen for a few days or weeks. Need some extra help with planning your renovation budget? Get in touch with the friendly team at Horizon Bank and ask us about ways to fund your renovation today. Horizon Bank has a branch network spanning the Illawarra and South Coast with offices at: Thirroul, Wollongong, Albion Park, Berry, Nowra, Ulladulla, Moruya, Bega, Bermagui and Merimbula. 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.

Should I sell or renovate my house? If you've been thinking about making a change to your living situation, there is much to consider such as time, money and the needs of a growing or downsizing family. Beautifully styled homes on social media are often attention-grabbing and leave us wondering how we can implement these ideas in our own homes. Renovating homes has increased in popularity due to the rise of reality TV shows such as The Block and Selling Houses Australia. The availability of inexpensive materials and DIY videos has also seen many people taking it upon themselves to make home improvements. In this article, we'll compare the pros and cons of renovating versus selling your home. So, if you find yourself faced with the decision to sell up or renovate, you can decide on the best strategy that will suit your circumstances. What's your best option? Pros To Renovating your current home Rather than selling up, many homeowners decide to renovate instead. One of the main reasons is because of the many costs associated with buying and selling real estate – advertising, stamp duty and sales commission to name a few. Carrying out renovations on your existing home comes with some real advantages. Renovating allows you to: Increase the value of your home – quality renovations are often an effective way to add value to your home and potentially sell it for a larger profit later down the track. Boosting rental income – If you're looking to rent out your home, minor renovations can be a good way of increasing rental income. Talk to a local real estate agent to get their view on how your property could be improved. Ask what renters are looking for in the area to give you an idea of how to increase your property's rental appeal. Improve the functionality and comfort of the home – this is especially true if you are widening rooms, hallways, adding rooms and increasing storage spaces. This is the time to update all those things that are out of fashion or dysfunctional. Remain where you are – updating your current home can be a great way to modernise it and give you extra years enjoying your time living there, creating a family home that can be enjoyed for years to come. Lower energy costs – if you are renovating your kitchen, this can be achieved by upgrading to more efficient appliances. If you're considering renovating your home, check out our range of home loans that can be used for renovation costs. Or, if you already have a home loan with us, ask the lending specialist at your local branch about your options. Cons To Renovating your current home Time – a renovation project is often thought of as a job in itself. Will you have the time to manage the renovations or get a builder to see the job through completion? How many months will the build take, and will it suit your household to be living in discomfort for a while? On a separate note but not unrelated to time, you will need to do your research on what council permits and approvals will be required. Check your local council website as a starting point. You will most likely require a planning and building permit as a minimum. Budget – how much can you realistically afford to spend, and will you be able to include all the changes you want, or will you have to sacrifice something? These are all helpful questions that will assist you in deciding whether to go ahead or not. Check out our article on budget renovations for more tips.   Selling your property Allowing a real estate agent to do all the work for you in selling your property is an attractive choice. As the client of a real estate agent, they will set out to get you the best price available for your property. Additionally, selling your home is a great choice if you have built up considerable equity, or if there isn't enough room for renovations to substantially improve your living situation. Before you decide whether to sell your property, it's worth calculating what it could sell for. Checking home sales websites is a good place to start to see what similar properties have sold for in your area. Also, you can ask a real estate agent for a market evaluation too. After working out what your property is worth, you can then consider costs of selling including: marketing expenses stamp duty for the purchase of your next home real estate agent commission moving costs solicitor and legal fees finance At Horizon bank, we are here to help you with your home loan needs. Whether that's to renovate or buy a new home. Get in touch with our friendly team today and let's chat about your plans. We have branches conveniently located across the Illawarra, so you can speak to a local person. 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.

What is debt consolidation? Debt consolidation is combining all your existing debts together into one new debt, which can help you manage your repayments and give you a clearer picture of your personal finances. You typically do this by taking out a new personal loan to repay your other existing debts and then paying this new loan back over a set term. Debt consolidation may be a suitable option to help reduce the stress of multiple debts, repayments and interest rates. Paying off more than one debt at a time is not uncommon. Many households now have a mortgage, car loan and credit cards to juggle. However, if you're struggling to balance your debt repayments, debt consolidation may well be worth considering. To start, see if you can relate to the following scenario: A scenario that could lead to debt consolidation Here’s where you could benefit from debt consolidation: Let’s say you have a regular credit card, and you’ve also taken out a store card to buy a new fridge with 12 months interest-free. You decide to concentrate on paying off your credit card because you have a whole year before interest kicks in for the store card. Flash forward to the 12-month mark. Suddenly, your hot water system needs replacing and you’ve found out you need expensive dental work done. Unfortunately, your credit card is maxed out, and the store card for the fridge with its high interest has now been added to the repayments. One repayment’s due on the 15th of each month, another on the 30th. You’re finding it hard to meet your repayment obligations and are starting to wonder how you’ll manage. While these purchases can be justified and were affordable at the time, with unexpected emergencies things can get hard to handle. And when debt causes stress, it’s time to take back some control. How to consolidate debt Gather documents and information about all your debts In order to take control of your debt and get on top of your finances, it's essential to know how much debt you have. Log into your Online Banking or print out statements and review the following: How much do you owe on each debt? The interest rate you are paying on each debt What are the monthly fees on each debt? Any break costs Debt consolidation and refinancing Before consolidating your debts or refinancing existing loans, it's a good idea to compare the interest rate for the new loan (as well as the fees and other costs) against your current loans. Make sure you can afford the new loan repayments. Speaking to one of our lenders about your options is a great place to start. Things to consider: If the new loan will be more expensive than your current loans, it may not be worth it. Other costs, such as application fees and any other fees associated with securing your loan against your home or other assets. The term of the loan. While a lower interest rate will help loan repayments, a longer term could mean you pay more in interest and fees in the long run. Look for the comparison rate. This is the true cost of the loan, factoring in fees and other costs. Do consolidation loans hurt your credit score? Every application for a loan or credit is included in your credit report. A consolidation loan will not negatively impact your credit report if you make the repayments and avoid defaulting on those repayments. What is the best loan to consolidate debt? A personal loan is an ideal loan for debt consolidation. At Horizon Bank, our range of personal loans can be secured or unsecured depending on your individual circumstances. There are many options available; speak with one of our lenders to see what suits your financial needs. Taking out a personal loan can also help with your budgeting and money management. Whilst credit cards only require you to make minimum repayments, with a personal loan you’ll have to make set repayments that cover both the loan amount and interest, which you know will end at a certain date. The easiest way to do this is to set up a payment schedule. This will also encourage regular saving and discipline with your money. We can also help with making automatic repayments. Get the help you need If you're finding your debt difficult to manage, the earlier you take action the better. You can access financial counselling information from ASIC’s money smart website. Get in touch with the friendly local team at Horizon Bank today.  We're here to help you with your banking needs. 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.

Not all banks were created equal. Which is why it’s important to know what banking services are offered so that you can decide on what is best for you based on your own personal finance needs. As a customer-owned bank, we have a range of banking services available for our members accompanied by personalised customer service to support those in our community. In this post, we highlight the key banking services we offer. Internet Banking Horizon Bank offers the latest online banking services for members. It is easy to register for Online Banking, not to mention free! Apply online or by phoning your local branch. You’ll be setup and can then log in with your member number and your own password. The best way to access online banking is from a desktop computer, however you can still log in using a tablet or iPad. We understand that our members need banking services that are flexible and accessible especially given the events of 2020. Manage your loans and accounts all in one place. If you need assistance, you can always contact us during business hours for help and support. Insurance We're pleased to offer our customers a range of insurances through CGU. Each insurance product provides a range of features with competitive premiums. The insurance products on offer include Home & Contents insurance, Motor Vehicle insurance, Farm insurance, Business and Commercial insurance, Caravan insurance, Boat insurance, Landlords insurance and Travel Insurance. We pride ourselves on offering our members a range of insurances all in one place. That is why you can also purchase a CTP Green Slip through QBE from us. We can provide quotes on insurance over the phone or in person at your local branch. Alternatively, get in touch with us online about an insurance quote. Loans At Horizon Bank, we have a range of loans including: Owner Occupied Loans Investment Loans New Car Loans Used Car Loans Personal Loans A low rate credit card Overdraft facilities We offer fixed home loans and variable home loans and investment loans. Any loan application can be completed online. Our lenders at each branch are happy to walk you through your application over the phone and will assist you at each stage of your application. Of course, you can always walk into a branch and speak with a lending specialist if you prefer a face to face consultation. We offer competitive rates and have a range of loans to suit anyone no matter what life stage you’re at. Being a local bank means all of our business operations stay local. You won’t be waiting weeks for loan approval, we can provide approval within a week allowing you to move quickly on that dream property you’re after. Check out these google reviews about our home loans. Savings Accounts If you’re wondering which type of bank account is best, we have an extensive range of Savings Accounts, including the Reward Saver, Cash Management, Horizon Direct, Christmas Club, Business savings and more! We have savings accounts for our young members, for members aged 55 and over, as well as term deposits that anyone can open to lock away larger sums of money. All savings accounts can be viewed through our Online Banking and the Horizon Bank app. This gives our members greater convenience to manage money on the go. As a customer-owned bank, our services are here to help you experience a higher level of personal banking. Get in touch with us today regarding any questions you may have about how we can help 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.The advice on this web page is general advice only and does not take into account your individual objectives, financial situation or needs ('your personal circumstances'). Before using this advice to decide whether to purchase or hold this insurance policy, you should consider the appropriateness of it having regard to your personal circumstances. Horizon Bank ABN 66 087 650 173 acts under its own Australian Financial Services Licence (no. 240573) and under an agreement with the insurer, Insurance Australia Limited ABN 11 000 016 722 trading as CGU Insurance (CGU). Backed by IAG. Insurance is issued by CGU. You can get a Product Disclosure Statement (PDS) for the products from any branch of Horizon Bank or CGU. You should consider the PDS in deciding whether to buy or hold the product.CTP Green Slip insurance (CTP) is issued by QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545) (QBE). Horizon Bank (ABN 66 087 650, AFSL 240573) is authorised to distribute CTP as an agent of QBE and is remunerated by QBE. Please read your CTP policy for further information before purchasing CTP. Horizon Bank does not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please consider the Product Disclosure Statement.

Consolidate your debts and get ahead. What are personal loans used for? Typically they help to buy white goods and furniture or they’re used for travel. However, did you know that many people also use personal loans for debt consolidation? That is, combining many debts into a single loan making it easier for you to control your repayments and get on top of your debt. Why consider debt consolidation? Paying off multiple credit cards or personal loans can feel overwhelming and somewhat stressful. You’re likely paying these loans off at different (and sometimes quite high) interest rates with many repayments coming out at different times during the month. Different loans can also often come with varying setup and ongoing administration fees. All of these added costs make budgeting and saving difficult leaving you with an unclear outlook for your long-term financial goals. How does debt consolidation work? Instead of having a few loans or credit cards to pay off, you can combine what you owe into one personal loan with a single interest rate. Your debt is still there, but this will enable you to better manage your money and give you a better idea of when you will pay your debt off, as you’ll have just one loan term to think of rather than many. You’ll also save money because a personal loan generally has a lower interest rate than credit cards. You’ll then only have to make one repayment rather than several, and you can always choose a weekly, fortnightly or monthly repayment option. Tip* weekly repayments will save you money in the long run too. You can do a debt consolidation loan comparison by comparing our personal loans. Things to think about Consider the size of your debt after combining your loans and be realistic about how much you can afford to repay and how often. Talk to us about your options, to ensure one single larger loan won’t become a burden. Keep in mind that setting up your repayment frequency to match your pay schedule, is a great way to make sure paying off your debt is a priority before spending elsewhere. If you don’t think you’re disciplined enough, we can organise automatic payments for you which takes the hassle out of your hands. Ready to consolidate your debts? Get in touch about a Horizon personal loan 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.

How much does a wedding cost? They can be expensive, but smart planning might help you keep costs reasonable and within your spending limits. Even a low-cost wedding will require putting together a plan to minimise the impact on your money. Start with a wedding budget If you’re unsure of how much you want to outlay for your wedding, start by picturing your dream wedding and making a list of vendors and associated wedding expenses. Getting quotes is a good place to start to get an idea of what you want to spend. Your list could include all or some of the following: • Venue of ceremony and reception compare prices per head. • Outfits – including the bridal dress, bridesmaids and grooms outfits • Celebrant • Wedding cake • Band or DJ if not included with the venue price • Photography and videography • Table centre pieces, decorations and flowers (including bridal party bouquets) • Honeymoon • Specialty cars Once you have a projected figure, decide with your partner if this is suitable and the impact on your finances.  If it’s looking too expensive, think about where you could cut back. For example, less flowers, asking the bridal party to chip in for their outfits or switching to canape style rather than a sit down meal for your guests are a few options you could explore. The Australian Securities and Investments Commission (ASIC) has an infographic detailing average expense amounts on their Money Smart website. This is a great source for an overview of how the costs of a wedding can add up. Implement a savings plan Looking at your current income and expenses, how long would it take you and your partner to save enough to afford the wedding? You can use our budget calculator to work this out. If you’re looking at having a wedding sooner rather than later, you can speed up the process by making some sacrifices with your day-to-day spending and/or reducing the potential cost of your wedding by looking at the options we discussed above. The more you save, the less you will potentially have to borrow to cover the total cost of the wedding. Explore your finance options If you’re not going to be able to save the entire amount you need, you could consider either putting some costs on a credit card or taking out a personal loan. You could also ask family to contribute to the cost of your wedding if they are in a position to do so. Either way, you’ll need to consider how paying back a loan or family members will impact your future budget and finances as a married couple. Borrowing money – credit card or personal loan? If you’ve decided to take out a loan for your wedding, consider saving up a deposit first to reduce the loan balance in the first instance. A credit card comes with a higher interest rate, and may be better suited for smaller, less expensive wedding items. For a considerable amount, you may want to discuss taking out a personal loan, or see if you are in a position to redraw on your current home loan. Talk with one of our experienced lenders about your wedding finance options. This is the final step in securing the funds to pay for your big day. 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.