Bank of Queensland opens branch in Varsity Lakes

By Lisa Hamilton and Eric Wright, Bond University Journalism Students

The Bank of Queensland has opened a new branch in Varsity Lakes and has been on hand to offer financial tips to help locals through the financial crisis.
 
One of the most important tips is people have been urged to be cautious about their spending by sitting down and making a realistic budget for the next year.
 
The Bank of Queensland Varsity Lakes branch manager David Lynch said, it was safer to deposit money in a bank than invest it in the stock market.
 
Mr Lynch said the best way to save money was to cut back on things you would normally indulge in and be smart about your spending.
 
 “People are urged to be smarter with their money and might have to tighten up their purses,” said Mr Lynch.
 
Mr Lynch also said the federal government’s plan to guarantee all domestic bank deposits with the approved cap at one million dollars.
 
“The Government has just come out and said they were happy to guarantee all bank deposits,” said Mr Lynch.
 
The government is encouraging foreign financial institutes to deposit money into our banks; with the assurance their money will be secure.
 
 The crisis has limited people from spending their money how they want but with budgeting and saving, people will feel less stressed at the end of the month.

Bank of Queensland can be located in the main street of Market Square and is Australia’s fastest growing retail bank with 280 branches nation wide.
 
Opening hours Monday – Thursday 9.30am til 4.00pm 
                      Friday 9.30am til 5.00pm