Funding big bucks

Chaplain Robert Paget presents a book to LAC Stuart Pluis to commemorate an RWTF milestone.

Photo by SGT Mark Eaton

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* In 2005 alone, the RWTF provided almost $9M in low cost loans to Air Force personnel. Types of loans include Home Improvement, Professional Development, Long Service, General Emergency and Group Life Insurance. QFor $1 per fortnight, Air Force personnel can ensure in the event of their death, their nominated beneficiary will receive a $15,000 lump sum payment within 48 hours

ONE hundred and twenty million dollars is a lot of cash in anyone’s books.

And it also happens to be the total amount of assistance provided by the RAAF Welfare Trust Fund (RWTF) to Air Force members and their dependants since its inception in 1947.

A loan processed for Leading Aircraftman Stuart Pluis, from No. 75 Squadron at RAAF Base Tindal, resulted in the milestone.

To celebrate, LAC Pluis was presented with a book by Dr Alan Stephens, signed by Chief of Air Force, Air Marshal Geoff Shepherd.

In 2005 alone, the Fund provided almost $9M in low cost loans to eligible Air Force personnel. Seventy percent of loans provided were directed to the lower paid members of the Air Force, that is, junior ranks up to corporal.

The Fund offers a range of loans to assist Air Force personnel. All RWTF loans are interest free, with a modest fund maintenance contribution to cover expenses and provide growth for the Fund.

Loan categories are as follows:

Home Improvement Loan
These loans are available to help a member build or buy a home or purchase furniture. The maximum loan amount is currently $2,700.

Professional Development Loan
These loans are available to assist members with education/study expenses. The maximum loan amount is currently $2,700.

Long Service General Loan
These loans are available for any worthwhile purpose, provided that the applicant has completed 10 years service in the Air Force. The maximum loan amount is currently $2,600.

General (Emergency) Loan
General (Emergency) Loans are normally available to meet temporary circumstances such as emergency housekeeping expenses, family medical or dental expenses, pressing household bills or fares for travel on compassionate leave. While there is no arbitrary limit on the amount of a general loan, amounts likely to be approved would be modest in value.

Group Life Insurance Scheme Loan.
Financial members of the RWTF Group Life Insurance Scheme (see below) will, after six-months membership, be eligible to apply for one of these loans. These Group Life loans may be used for any worthwhile purpose and the maximum loan amount is currently $3,200.

The Fund administers a Group Life Insurance Scheme
All PAF members are eligible to join the scheme which costs $1 per fortnight (by allotment). In the event of the death of a financial member, a lump sum cash payment (currently $15,000) will be paid to the member’s nominated beneficiary. The payment will be made within 48 hours where possible. Some exclusions apply.

More information? See http://defweb.cbr.defence.gov.au/rwtf. Information is also available from your local Chaplain or the Fund Secretary, Mr Russ Thomson, on (02) 6266 3650 or by e-mail russ.thomson@defence.gov.au.

 

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