Gagudju Lodge Cooinda

Yellow Water Cruises provide tourists with a guided tour on canopied cruise boats year round

Situated three hours from Darwin, Gagudju Lodge Cooinda offers convenient access to the wonders of Kakadu National Park. When IBA first invested in the business, it had been placed in the hands of an administrator for liquidation. Over the past decade, in conjunction with Gagudju Association, IBA has rejuvenated the business through significant effort and expenditure, and it is now a thriving business.

Gagudju Lodge Cooinda is the base of the world-renowned Yellow Water Cruises. Yellow Water Cruises takes tourists on newly refurbished vessels through the Kakadu freshwater wetlands, a World Heritage – listed area of significance. The wetlands’ attractions include crocodiles, birdlife, and the unique pig-nosed turtle. There are also fishing tours for barramundi, and facilities at Gagudju Lodge for cooking fresh catches.

The Indigenous Employment Program, for trainees, produces 15 local graduates each year. Through Gagudju Lodge Cooinda and the Gagudju Crocodile Holiday Inn, trainees earn their Certificate II in Hospitality Operations and learn tour guiding. They are also given the opportunity to specialise in an area of particular interest.

Cooinda also operates the Warradjan Cultural Centre, which is shaped like a turtle. Warradjan means turtle in Bininji language. The Indigenous traditional land owners (Bininji) from Murumburr, Mirrar Gundjeihmi, Badmardi, Bunitj, Girrimbitjba, Manilakarr, Wargol and other clans have combined to create an exciting and memorable exhibit. Through the displays, stories and exhibitions, tourists can gain a better understanding of the Bininji and their country, Kakadu.

Gagudju Association also uses its profit distribution to support community services such as housing, health, education, transport, and employment.

Inaugural home loan delivers on social and economic outcomes

Niki returns to visit family at the home she grew up in

It was 1975, and Len Barratt, a fireman with the Canberra Fire Brigade, earning a regular wage, and striving for a better future for his family was becoming increasingly frustrated that he could not get a home loan from Canberra building societies.

Then Len heard about the Aboriginal Loans Commission, which was established in November 1974 to provide finance for Indigenous Australians wanting to buy their own homes. On 27 May 1975, the Barratts became the first recipients of an ALC loan, which they used to buy a four-bedroom home in Kambah, a Canberra suburb.

Over the next 34 years, the ALC loan program went through several restructures, before becoming the Home Ownership Program now administered by IBA.

Niki Donnelly grew up in that Kambah house. She recalls the feeling of security that came from living in a home her parents owned. ‘I felt very safe that I always lived in the same home. By always living in our home we grew up with the same friends and family support throughout our lives.’ She also appreciated the differences between her family’s living situation and that of some of her friends. She said, ‘It was great not having to move every six months to a year. Other friends of mine had parents who rented and moved quite often.’

The positive example set by her parents had a lasting effect on Niki. ‘I bought my first home, in Fisher, in 1996 through IBA. The support from my family definitely helped.’ Niki and her family sold the house in Fisher and paid out their IBA loan when they relocated to the Central Coast. The money they received for the house assisted them in their business venture and with purchasing another home on the coast through a mainstream lender.

Now Niki is back in Canberra working for IBA. She is excited about assisting other Indigenous Australians to own their own home and build assets and wealth as her parents were able to all those years ago. ‘I would recommend that anyone considering buying a home should look at IBA first. IBA staff are dedicated to home lending. They deal with the home loan processes from start to finish. You can call IBA with any query and know that staff members will give you the right support and answers.’

There is no better advertisement for the benefits of home ownership than Len Barratt and his wife. In their Kambah home, they raised 12 children in a stable, secure environment with positive role models. It is fitting that their daughter, Niki, is continuing the positive cycle of asset and wealth creation for future generations.

Glen and Dianne Ball’s dream came true

The Ball family at home

‘Glen and I wanted to buy our own home after years of renting. The dream of one day buying a home was like saying “when I win Lotto”.

‘I lived in the Newcastle area of New South Wales for nearly 20 years, and I always wanted to buy a home for my family. I thought it was an unreachable goal, especially for a low income earner. But when I heard that my older sister was given the opportunity for a home loan in the New England area where I grew up, and where my extended family live, I was taken aback, and could not believe the news. From that day, I wanted to pursue my dream of one day being able to bring my family back home to my community.

‘With IBA’s assistance, my dream house became a reality. We are totally grateful for the home ownership opportunity IBA was able to provide, which has made a massive impact on our lives. It shows that Indigenous people can own a home, just like non-Indigenous Australians.

‘We are now renovating our home and I have gained employment with Minimbah Preschool-Primary School. I have been telling my story to other Indigenous folk of how I once lived in Newcastle and with IBA’s support and assistance have been able to bring my family back home to my country. We love it knowing that our home will be there for our children. Thank you IBA.’

Strathmerton Newsagency, regional Victoria: Cindy Newell and Adam Foster

Cindy Newell, Strathmerton newsagency business owner

IBA had previously assisted Cindy Newell and Adam Foster in securing a home loan. After looking around for business opportunities in their area, Cindy and Adam settled on a somewhat rundown newsagency, Strathmerton Newsagency, a short distance from their home in Numurkah.

IBA agreed to allow Cindy and Adam to put their home on the market and rent their home out pending a sale. This enabled them to take over the Strathmerton Newsagency and move their family into the residence attached to the business. IBA provided a business consultant to help Cindy and Adam plan the business and provide Cindy, who had previous shopkeeping experience, with business management skills.

Cindy and Adam have been operating the newsagency for nine months and have exceeded expectations each month. Cindy and her family have re-established the business as a successful local ‘institution’ even during difficult economic times and drought. Since they took over the ownership and management of the business, many local residents have again started to patronise it.

But the story doesn’t end there. Cindy’s parents, Peter and Cheryl Greenwood, were inspired by their daughter and similarly sought a suitable business that they could own.

They knew that they would have to get skills in retail and business management. Since Cheryl had experience in customer service, they set about training with Cindy in her newsagency to sharpen their business management skills. In January 2009 they purchased Wunghnu General Store with IBA finance and business support. Cindy’s successful move into business had inspired her parents.

Stephen Reid: Quicksigns, Osborne Park WA

Quicksigns business owner Stephen Reid

Stephen purchased Quicksigns Osborne Park, Western Australia, in 2006. At the time, he felt that he needed a career change and decided to work for himself. This business suited him as he had worked in the industry previously for about 17 years. Stephen approached IBA to assist him to purchase the business.

IBA provided the business support Stephen needed to undertake due diligence and prepare a business plan. Through this process, Stephen was able to show that although existing profits were low, he had the experience and qualifications to be able to increase the income of the business.

IBA financed the business, which helped Stephen keep his cost of capital low.

The business turned out to be extremely successful under Stephen’s management and he has been meeting the goals that he set in his business plan.

Stephen obtained additional finance through IBA to grow the business. He has employed his wife full-time (she was already a partner in the business) to market the business.

Stephen said that it was good to know that the IBA consultant was there to help whenever he needed assistance or had a question. ‘The business consultant was great and we clicked straight away; she still pops in from time to time.’

Jennifer and Brian Clancy build their own home on community-titled land

When township leasing arrangements were instituted in the Northern Territory, opportunities opened for home ownership on community-titled land. Jennifer and Brian Clancy were the first to take advantage of the new 99-year leasing arrangements, taking out a loan under IBA’s Home Ownership on Indigenous Land Program to build a house at Nguiu, in the Northern Territory. The Clancys knew that getting a loan from a mainstream lender would not be possible, because they would not be able to come up with the 10 per cent deposit needed and that a loan without the concessional rates of interest offered by IBA would be unaffordable.

Jennifer and Brian appreciate the support IBA gave them: ‘IBA worked with us through the hurdles of purchasing a house, made it affordable and provided amazing support. Having a local IBA officer to work with us throughout the entire process enabled us to realise our dream of owning our own home.’ IBA also arranged for independent advice from a solicitor, who explained all the paperwork and helped them make a will.

MoneyTalk workshops

IBA, in conjunction with Accounting Comes Alive, presented the first workshop of a three-part series providing basic financial literacy and corporate governance understanding to one of its joint venture partners. the second and third workshops will be staggered throughout the year
to allow practical application of the knowledge gained and will take an in- depth approach to the actual financials and issues related to each specific business.

The workshop discussed cash flow and its effect on business. Its easy-to-follow format and interactive tools helped the participants follow the flow of money around visually and physically.

The first workshop participants felt that it had helped them better understand financial reports and gave them a real concept of what the figures mean.

The Moneytalk workshops give participants the knowledge and tools they need to participate in the Australian Institute of Company Directors Indigenous Governance program.

Indigenous trainee: Douglas Pungana

Douglas Pungana, runner up finalist for the 2009 ACT Aboriginal and Torres Strait Islander Student, Trainee or Apprentice of the Year award

In October 2008, 22-year-old Douglas Pungana commenced a traineeship in Canberra with IBA. Until then, Douglas had lived with his family in Port Hedland, 1,761 kilometres from the nearest capital city, Perth, and 5,000 kilometres from Canberra.

Through the Indigenous Youth Mobility Program (IYMP), Indigenous young people (aged 16-24) from remote areas, like Douglas, can be supported to complete qualifications they need to obtain sustainable employment.

With the assistance of IYMP and Indigenous Success Australia, Douglas began his studies for a Certificate II in Business Administration and a traineeship with Regional Group Training, hosted by IBA. He has completed his Certificate II and is now working towards his Certificate III, which he hopes to complete early next year.

A good traineeship is often measured by its ability to complement studies with on-the-job experience. So far, the experience has been good for Douglas, who says of his work–study experience, ‘My Certificate in Business Administration combined with the experience of working in the public sector is a great stepping stone for me.’

In Canberra, Douglas feels more homesick than he cares to admit, but he says, ‘My dad was really supportive of me taking up this opportunity. The thought of living in our nation’s capital city and the opportunity to do something good for me and to make my family and myself proud in what I can achieve was what motivated me.’

Keen to continue a career with IBA once his traineeship is complete, Douglas recalls his first days of work. ‘I thought, ‘Wow, this place called IBA actually helps us Indigenous people get home and business loans. Man, that’s so cool.’

Douglas is making the most of his career opportunities and was recently a finalist in the Aboriginal and Torres Strait Islander Student, Trainee or Apprentice of the Year category at the 2009 ACT Training Excellence Awards. His story is inspiring to his family and colleagues.