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COVID-19 Update From General Manager Peter Townsend

30 March 2020

COVID-19 Update From General Manager Peter Townsend

Coastline Executive Management David Ryan, Peter Townsend and Jenny Thorman.

As the impact of COVID-19 continues to grow across our communities, I wanted to provide you with an update on Coastline Credit Union's response to the situation. We understand that many people may be affected by the COVID-19 outbreak and we are doing all we can to support our staff, customers, family and friends during this time.

Assistance available to customers impacted by COVID-19

We have acted swiftly to make our Hardship Relief Package available for customers impacted by the COVID-19 situation. I encourage customers who require assistance to reach out to us as soon as possible to access the benefits of the package.

Accessing your money safely and maintaining the health of our staff

All our branches and our Call Centre remain open for business Monday - Friday. We have taken the decision not to open our branches on Saturday mornings effective immediately. We will continue to monitor communications and directives from the Australian Government, along with the health of our frontline staff and will advise you of any changes to this situation as they evolve.

The health of our frontline staff is a key element in maintaining our ability to keep branches open and to continue providing service to you. With this in mind, we ask all customers who choose to visit a branch to maintain a safe distance from staff and other customers during their transactions. Further, we strongly recommend that customers who are feeling unwell utilise the remote banking options detailed earlier rather than visiting their local branch.

To minimise the risk to both customers and staff, we encourage customers where possible to take advantage of the following methods of accessing their funds or transferring money between accounts:

  • The national network of ATM and point-of-sale terminals;
  • Internet banking;
  • Our mobile banking app;
  • Phone banking.

You can find out more about ways to access your money without visiting a branch here.

Our financial strength

Coastline is in a very strong financial position and is well equipped to meet any challenges the current situation brings.

Two of the crucial indicators of a bank's safety and security are the amount of accumulated capital and liquid funds we hold. In Coastline's case, both these measures are well above the minimum levels required by our regulator, the Australian Prudential Regulation Authority (APRA).

I'd like to reinforce Coastline's ongoing commitment to our staff, customers and communities. We are here to support you all through the current situation and maintain business as usual as much as the current circumstances allow. Please feel free to contact us if you require any further information.


Peter Townsend

General Manager