VICTORY

New Monthly Payment Option Available
For the 2019-20 membership period, the Institute has partnered with Victory Funding Pty Ltd “Victory” to provide Members with the option to pay their fees over between 3 and 12 monthly instalments. Victory specialises in providing instalment payment options to Member organisations; more information about Victory, including their privacy policy, can be found on the website: www.victoryfunding.net.au. Paying monthly includes the following benefits to Members:

• Low cost short term finance when compared to the alternatives

• Interest charges are tax deductible for business

• Simple and convenient on-line acceptance process

 

How does it work?

Victory will pay your membership fee in full to the Institute, and you repay Victory over your choice of instalments from your nominated Bank or Credit Card.  Please note that additional costs apply to paying monthly ; to review the schedule of costs involved are as follows; 
 

Instalments            Rate

3                                 6.5%

4                                 6.5%

5                                 6.5%

6                                 6.5%

7                                 8.0%        

8                                 8.0%

9                                 9.5%

10                               9.5%

11                             10.5%

12                             10.5%

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Below is a 10 instalment example:
        Interest charges of 9.5% will apply to the 10 instalment option 
        Membership fee of $1,085 x 9.5% = interest cost of $103 or an additional $10.30 per month
        $1085 + $103 = $1188 (total amount to be repaid to Victory) which equates to $118.80pm
 

To view the terms and conditions that apply to the monthly payment option, click here. 

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Important notes about paying monthly

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• Members complete an online application to proceed with the monthly option and receive email confirmation directly from Victory. The start date for instalments is the date the Member completes the online process, or the preferred day of the month selected by the Member. 

• You may choose to pay instalments by direct debit or credit card, Additional fees will apply to card payments:
         1.25% for VISA/Mastercard and 1.75% for AMEX

• You may contact the Victory service team if you wish to delay or change an instalment date; and you may cancel the monthly payment arrangement at any time. If a monthly instalment is dishonoured, the Victory team will contact you for a redraw date and a dishonour fee of $30 may apply.

• Please contact The Institute Membership team with any questions about the new monthly instalment option.
   

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