About Uniting Financial Services

Reuniting clients with their forgotten funds   By Shannon Kong Head of Partner Solutions and Support

Forgotten savings and investments are more common than you might think, which is why it is important to stay in touch with your financial services providers, writes Shannon Kong.      When a Uniting Financial Services (UFS) client received a call from a UFS staff member recently, little did she know that she was about to receive a welcome Christmas surprise.  Our Partner Solutions and Support (PSS) team member had called to remind the client that she had funds invested with UFS that had been sitting dormant for some time.  “But I only have a small amount and when I die it will go to my sister. Given the fact I am 88, that may be quite soon,” she responded.  The client, a former Minister, was therefore extremely surprised to learn that, rather than a small amount, she in fact had a substantial amount invested with UFS that she was not aware of.     How funds are forgotten At UFS, we know that managing personal finances can be tough – with home loans, insurances, investments and savings, most Australians have multiple accounts to stay on top of and, as a result, some of these may be forgotten.   This is particularly the case when someone has passed away. Family members may be required to go through the probate process, communicate with lawyers and fill out lengthy forms during a difficult period in their lives in order to claim funds. As a result, many put it in the ‘too hard’ basket or simply forget.    Keeping your details up to date According to ASIC, there is more than $1.5 billion of lost money that has yet to be claimed in Australia1. Keeping financial services providers updated is important, particularly if your name, address, email or any other personal details have changed. Without the right information, it can be difficult for organisations to keep in touch with you.  If you have a loan or facility with UFS and your details have changed, you can let us know by filling out a Change of Details form, which is available on our website, or by emailing the Partner Solutions and Support team at contactus@unitingfinancial.com.au    Source:   1. ASIC: https://asic.gov.au/for-consumers/unclaimed-money/ 

  CallInvestments and Lending: 1300 133 673Other enquiries: 02 8267 4300

  Emailcontactus@unitingfinancial.com.auWe are here to help.

  Post P.O. Box A2178, Sydney South NSW 1235  

  AddressLevel 10, 222 Pitt Street, Sydney NSW 2000

  Important for you to know Financial services are provided by The Uniting Church (NSW) Trust Association Limited ACN 000 022 480, ABN 89 725 654 978, AFSL 292186 (“UCTAL”) and by The Uniting Church in Australia Property Trust (NSW) ABN 77 005 284 605 (“UCAPT”) (together and separately “Uniting Financial Services”), for The Uniting Church in Australia, Synod of NSW and the ACT (“Synod”), under a s.911A Corporations Act 2001 (Cth.) authorisation and pursuant to APRA Banking Exemption No. 1 of 2021 and ASIC Regulatory Guide 87 and ASIC Corporations (Charitable Investment Fundraising) Instrument 2016/813 exemptions. Uniting Financial Services® is a registered trademark of UCTAL used with permission of UCAPT. None of The Uniting Church in Australia, UCAPT and UCTAL is prudentially supervised by APRA. Therefore, investments with or contributions to these Uniting Church organisations will not receive the benefit of the Financial Claims Scheme or the depositor protection provisions in the Banking Act 1959 (Cth.). All financial services and products are designed for investors who wish to promote the religious and charitable purposes of Uniting Financial Services and The Uniting Church in Australia and for whom profit considerations are not of primary importance in their decision to invest. The information on this page has been prepared without considering your objectives, financial situation or needs. You should, before acting on it, consider its appropriateness to your circumstances or refer to the relevant disclosure document. Loan applications are subject to credit approval. Interest rates are subject to change. Fees and charges may apply.