In this issue of Member Matters:
- A message from BankVic Board Director David Cowan
- Scam trend: phone porting
- BankSafe Top Tips
- Extending our partnership with Victoria Police Legacy
- Children's Christmas Appeal update
- Crime Stoppers Victria partnership renewal
- The Police Association Victoria partnership renewal
- Insurance policy competition winner
- Report and photos from WalkWest 2025
- Acknowledging International Women's Day.
At its’ February meeting, the Reserve Bank of Australia (RBA) announced a cut of 0.25% to the official cash rate. This welcome news was the first interest rate decrease from the RBA in more than four years, and we immediately announced this would be passed on in full to members with variable rate home loans.
This year we join our good friends at Victoria Police Legacy (VPL) in acknowledging and celebrating their 45th anniversary. Founded by two of BankVic (then the Police Association Credit Co-op)’s inaugural directors, Inspector Bryan Kelly and Superintendent Peter Ryan, VPL supports the families left behind when a police officer passes away, through practical support, connection, and community. Our long and close partnership with VPL continues and was recently renewed (more below).
We have also extended our partnership with Crime Stoppers Victoria for a further five years (see below). Scammers and fraudsters are increasingly cunning in the ways they will try and get access to your details and funds. This partnership is a key pillar in helping our members and the wider community be better informed and more aware of what they can do to protect themselves from becoming another scam victim.
It is a privilege to be one of your directors on our 100% member-owned bank. The whole Board approaches every decision with you front of mind, and we thank you for your ongoing membership and support of BankVic.
David Cowan
DIRECTOR
Scam trend: phone porting
Porting is a normal, routine process that enables you to transfer your mobile number and connection between service providers. If you’ve changed providers, you’ve ‘ported’.
However, scammers are increasingly abusing this process. They contact phone service providers to set up an account in someone else’s name – supported by details and documents they have obtained in advance – and start gaining control over your connection and number.
Why? Scammers want your phone connection so they can use it for other ways to defraud you.
One big way is by gaining access to your SMSs, often used in two-factor authentication. They can then reset login details for your banking, superannuation, and government portals such as MyGov.
Reports of phone porting are increasing significantly. IDCARE, Australia and New Zealand’s identity and cyber support service, has seen a 240% increase in people seeking help for this in 2024 compared to 2023 (Hijacked Connections: the reality of phone porting and SIM swap scams, 31 January 2025).
Control over your phone connection and number has never been more important.
If your phone suddenly goes into SOS mode, contact your phone provider immediately to work out what’s happening – it might be a phone porting scam.
Extending our partnership with Victoria Police Legacy
We were absolutely delighted to announce just before the end of last year, that our partnership with Victoria Police Legacy has been renewed for a further three years.
Our partnership helps ensure police families who have lost a loved one are supported at the time of their loss, and remain connected and supported through the challenges that come from losing a loved one who served the broader community.
Partnering with VPL is something we are honoured to do, and we very much look forward to continuing to work together.
BankVic CEO Anthony De Fazio, and then-CEO of Victoria Police Legacy Lex de Man, signing the partnership extension.
Children’s Christmas Appeal raises funds and spirits
CEO Anthony De Fazio recently presented VPL CEO Debra Robertson with $7,766.81, which was donated by the community and BankVic team, and contributes to bringing some Christmas-time joy to children and families of police who are no longer with us.
The work VPL do to support the police community is invaluable and we are very proud to be able to support this fundraiser, alongside other events and programs each year.
CEO of Victoria Police Legacy Deb Roberston, and BankVic CEO Anthony De Fazio.
Partnership with Crime Stoppers Victoria renewed for further 5 years
Modern scams are more sophisticated than ever, and include deceptive SMSs and calls, fake love interests, complex investment scams, and more.
To help our members and the community be more informed and alert, we’re really pleased to have renewed our partnership with Crime Stoppers Victoria for a further five years.
Together we produce a whole range of resources and information that uncovers the way these insidious perpetrators operate, and share the things we can all do to help protect ourselves and
each other.
We look forward to continuing our collaboration in the years ahead.
(L-R): Stella Smith, CEO Crime Stoppers Victoria; Anthony De Fazio, CEO BankVic; Rachel Morley, Chief Growth & Experience Officer, BankVic; and Daniel King, Chair Crime Stoppers Victoria.
Extending our partnership with The Police Association
It was a group of Victoria Police officers – and active members of the Police Association – who in 1974 established the Police Association Credit Co-op. Their objective was to look after the financial needs of those on the job, and that work continues more than five decades later.
Our long and collaborative relationship with The Police Association Victoria (TPAV) has been reaffirmed through a formal extension of our partnership.
Together BankVic and TPAV will continue to support police members through a range of financial education opportunities, professional development forums, event sponsorship, and collaborative programs to support their wellbeing and financial goals.
The ideals of those who established what is now BankVic continue to guide the way work for and with our police members.
Celebrating our insurance policy competition winner
We recently ran a competition for members who established or renewed an insurance policy through BankVic and our insurance partner, Allianz. All members who did were entered in a draw to win a $20,000 cash prize.
The lucky winner was Paul McBride, a retired police officer who now volunteers with Victoria Police Legacy. Paul joined Victoria Police in 1973, and the Police Credit Co-op in its first few months – making him a 50-year member!
We invited Paul to come in for a presentation with some of the BankVic team and our insurance partner Allianz.
Paul plans to build a new carport and a few other things around his home.
(L-R) Fiona Goldsmith, Head of Contact Centre, BankVic; competition winner Paul McBride; Paul Groves, Key Account Manager - Financial Institutions, Allianz.
WalkWest 2025
On Sunday 23 February we supported and participated in WalkWest, the Western Health
Foundation’s annual community fundraising event.
We joined people from all over Melbourne in coming together to complete a 3km, 5km, or 10km walk or run, and together raised over $150,000. These funds will help secure advanced robotic surgical technology at Western Health.
We are proud to sponsor WalkWest and lend our support to the Western Health Foundation, their people, and the community.
March Forward: International Women’s Day
BankVic acknowledged International Women’s Day with a discussion panel of female leaders from police and banking, featuring:
- BankVic Board Chair Lucinda Nolan, also a former Deputy Commissioner of Victoria Police
- Victoria Police Deputy Commissioner Wendy Steendam
- BankVic Board member and experienced financial services leader Rhyll Gardner
- BankVic Company Secretary Penny Maroulis, also former strategic adviser in the Chief Commissioner’s Office of Victoria Police.
Panelists shared reflections on their careers in male-heavy industries, their paths to the positions they have held, the people who have championed them and their goals along the way, and the advice they would give their younger selves and women today.
IWD partner events
In addition to the event we held for our people, we also joined BankVic partners Victoria Police and Northern Health at their events.
We were proud to support them and hear from some fantastic speakers, and to share the reflective and constructive time together.
