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Financiers to help Farmers understand farm finance

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Judith Troeth Parliamentary Secretary to the Minister for Primary Industries and Energy

DPIE98/27T 19 June 1998


The third meeting of the Consultative Rural Finance Forum (CRFF), chaired by Senator Judith Troeth, Parliamentary Secretary for Primary Industry and Energy was held yesterday in Canberra.

The CRFF which is comprised of representatives from the four major financial institutions, pastoral houses, financial consultants, rural consultants and the National Farmers' Federation has been primarily established to enhance communications between the banking sector and farmers to encourage a bipartisan effort towards addressing the

financial issues facing rural communities today.

"It's a two-way street and each party needs to understand the others' requirements if an effective and constructive working relationship is to be achieved," Senator Troeth said.

"The Forum established that there are a variety of avenues emerging for rural communities to access financial services, other than traditional banking facilities.

Dr Andrew Southcott MP, of the House of Representatives Standing Committee on Financial Institutions and Public Administration, which is responsible for the Inquiryjnto Banking in Regional Australia, addressed the CRFF on the progress of its Inquiry.

"His comments supported conclusions that had been drawn from a series of meetings by the CRFF, such as the necessity to establish an effective communications strategy to encourage constructive interaction between financial services and rural communities," Senator Troeth said.

"Discussion at the Forum was around the development of a plan to encourage farmers and members of the rural community to focus on their long-term financial position and how banks and/or financial institutions can be of assistance to the rural community in this respect.

"Farm profitability and sound financial management are obviously closely linked. With this in mind the Forum is looking closely at the impediments to borrowing and competition in the financial sector and how we can improve farm financial management," Senator Troeth said.

Parliament House C anberra ACt 2600 Tel: (02) 6277 3002

Fax: (02) 6277 3205

Unit 1, 322-352 St Kilda Rd St Kilda VIC 3182 Tel: (03) 9593 9511

Fax: (03) 9593 9971


"Banks are an important feature of the traditional Australian rural community. The closure of the traditional banking facility in some areas does not have to mean a break in the link to the community. Instead rural Australians should be utilising the opportunities that alternative sources of banking create for them to broaden the scope of their community.

Attached is a list of the attendees at the latest CRFF if you require further information.

Media contact:

Alex Staples 02 6277 3002 0417 449 921




Mr Ian Donges President, National Farmers Federation

(02) 6273 3855

Mr Alister Bennett Senior Manager, Product Development Primary Industry Bank of Australia (02) 9234 4396

Mr Barry Buffier National Manager, Agribusiness

Westpac Banking Corporation (02) 9226 6453

Mr Bruce Brown Head, Agribusiness

ANZ Bank (03) 9273 4735

Mr Brent Clark Adviser, Rural Provincial and Agribusiness

National Australia Bank (03) 9641 3316

Mr Brian Plain National Manager, Agribusiness

Commonwealth Bank of Australia (02) 9312 8628

Mr Mark Genovese Credit Union Services Corporation (02) 9333 7374

Mr Bruce Bashford Monaro Rural Counselling Service (02) 6452 5059

Mr David Heinjus Rural Direction Pty Ltd

(08) 8842 1103

Mr Max Ormsby General Manager, Group Treasury

Futuris Corporation Limited (08) 8218 4646

Mr Peter Cooke Agknowledge

(08) 9453 2187

Mr Richard Goyder Finance Director

Westfarmers Dalgety Limited (02) 9335 6000

Mr John De Salis Commercial Manager

Westfarmers Dalgety Limited (02) 9335 6173


Mr Stuart A Black FCA Rural and Regional Issues Group Institute of Chartered Accountants in Australia (02) 9267 6699

Mr Bill Sheehan Statham Cheesman Pty Ltd

(07) 4622 1366

Mr Stephen Carroll Australian Bankers' Association (03) 9654 5422