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When you head to Moruya, you can’t beat a leisurely boat ride down the river on a nice day. Make your way to the Moruya boat shed to hire a tinny or to take a scenic river cruise. Moruya’s main street is filled with shops, there’s something for everyone! We love the coffee at Alfresco Coffee Roasters to get you started for the day. You can browse for homewares in Firefly, or go dress shopping in Eve’s Place Fashions. If you’re feeling hungry, treat the family to some good old fashioned fish and chips by visiting Swan’s Takeaway. Or you can grab a bite to eat at one of the popular pizzerias - The Black Olive Pizza or Church Street Pizzeria are highly rated by visitors. Church Street Pizzeria Steph's Fabrics Moruya Golf Club Images provided by local businesses If you’re after a club experience, visit the golf club in the evening for a meal with spectacular views over the green. Free or ticketed live entertainment is on Friday and Saturday nights. Top places to visit A great local tourist activity is the Moruya Sea Planes. Take a scenic flight overlooking the beaches, green pastures and mountain views. Moruya Markets are usually held on Saturday mornings and Farmers Markets are on Tuesday afternoons. Locals will tell you they’re the best in Australia! Drive just 15 minutes north of Moruya to Broulee, where you can go for a dip or check out the unique fabric art at Steph’s Fabrics. We hope this guide is helpful when deciding what to see and do during your trip to Moruya. Be sure to check out the other NSW south coast towns featured in our blog. Support the local business and community by visiting these coastal towns this year.  The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant General Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.

SMSF trustees, get ready to maximise your retirement savings! What is a Self-Managed Super Fund (SMSF)? A self-managed super fund is a private superannuation fund you manage rather than relying on a professional fund manager. As an SMSF trustee, you have more control over your investments and can customise your portfolio to suit your specific needs and risk tolerance. However, with greater control comes increased responsibility, including compliance with regulatory requirements and ongoing administration. Why Choose Horizon Bank's SMSF Saver? The SMSF Saver account from Horizon Bank is designed to meet the unique needs of self-managed super funds. It offers a range of features and benefits that make it an ideal choice for savvy SMSF trustees looking to optimise their retirement savings. Competitive Interest Rates: Horizon Bank's SMSF Saver offers competitive interest rates to help your retirement savings grow. Earning a higher return on your cash holdings can maximise your wealth accumulation and achieve your long-term financial goals. Flexibility: The SMSF Saver provides flexibility in how you manage your funds. With no minimum balance requirement and no fixed term, you can access your money when you need it without penalty. This flexibility allows you to adapt your investment strategy as your needs and circumstances change. Easy Access: Managing your SMSF Saver account is simple with Horizon Bank's online banking platform. You can easily view your account balance, transfer funds, and access statements from the comfort of your home or office, giving you more control over your investments and financial planning. Security: As a member-owned bank, Horizon Bank prioritises the security of its customer's funds. By choosing the SMSF Saver, you can have peace of mind knowing that your retirement savings are securely held with an established financial institution. All about You: As a customer-owned financial institution, Horizon Bank prides itself on providing personalised service to its customers. As an SMSF Saver account holder, you'll have access to dedicated support from a team of experienced banking professionals who understand the unique needs of self-managed super funds. Maximising Your Retirement Savings with SMSF Saver Consider implementing the following strategies to maximise your SMSF Saver account and optimise your retirement savings. Regular Contributions: Regularly contributing to your SMSF Saver account can help grow your retirement savings. By consistently adding funds to your account, you can use compound interest and accelerate your wealth accumulation. Diversification: Diversifying your SMSF investments can reduce risk and improve returns. By holding a portion of your portfolio in cash through the SMSF Saver account, you can create a balanced investment strategy that aligns with your risk tolerance and financial goals. Monitor Performance: Regularly monitoring the performance of your SMSF Saver account and other investments can help ensure you stay on track to achieve your retirement objectives. By reviewing your account statements and discussing your investment strategy with a financial advisor, you can make informed decisions and adjust your approach as needed. Review Fees and Charges: It's essential to review the fees and charges associated with your SMSF Saver account and other investments regularly. By minimising costs, you can maximise your returns and ensure more of your money is working towards your retirement goals. Secure Your Financial Future with Horizon Bank's SMSF Saver Choosing the right savings strategy is crucial for self-managed super fund trustees looking to maximise their retirement savings. With its competitive interest rates, flexibility, and personalised service, Horizon Bank's SMSF Saver is an excellent option for those seeking a secure and effective solution for their cash holdings. By taking advantage of the features and benefits offered by the SMSF Saver, you can optimise your investment strategy and secure your financial future. Start growing your retirement savings today with Horizon Bank's SMSF Saver and take control of your financial destiny. As always, we are here to help and have branches across the Illawarra, Shoalhaven, Eurobodalla and Sapphire Coast. Contact us if we can be of any assistance. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. Note: You should consider the General Terms & Conditions in deciding whether to buy or hold the products.

As the end of the financial year approaches, it's time to get your documentation in order and prepare for a fresh start. To help you navigate through this important period, we've put together an end of financial year checklist. By following these steps, you can ensure that you make the most of tax benefits, stay organised, and set yourself up for financial success in the coming year.   Review your income and expenses Take a close look at your income sources and expenses from the past year. This could include your wage, any government benefits, interest, rental income etc. Ensure that all your financial records, including payslips, invoices, and bank statements, are in order. This step will help you identify any potential discrepancies and make the necessary adjustments before tax time.   Utilise any government benefits If you are entitled to a NSW Government-issued voucher such as Active Kids, Premier’s Back to School, Creative Kids or First Lap, ensure these have been activated before the end of financial year deadline.   Maximise your deductions As an Australian taxpayer, you may be eligible for various deductions that can reduce your taxable income. Review your expenses and ensure that you have supporting documentation for each deduction you plan to claim. Some common deductions include work-related expenses, self-education costs, and charitable donations. Seek advice from a qualified tax professional to make sure you're claiming all the deductions you're entitled to.   Superannuation contributions Consider making additional contributions to your superannuation account before the end of the financial year. These contributions may be tax-deductible and can help boost your retirement savings while providing potential tax benefits.   Capital gains and losses If you've sold any assets during the financial year, review your capital gains and losses. Capital gains tax may apply, but you may also be able to offset these gains with any capital losses you've incurred. Consult with a tax professional to understand the implications and optimize your tax position.   Small business considerations If you run a small business, the end of the financial year is a critical time to assess your business's financial health. Review your cash flow, inventory, and outstanding invoices. Consider writing off any bad debts or obsolete stock to improve your financial position. Ensure that your employees' superannuation contributions are up to date and that you meet your obligations as an employer.   Lodge your tax return on time Australian taxpayers have until October 31st to lodge their tax returns for the previous financial year. Aim to lodge your return as early as possible to avoid any last-minute rush or penalties. If you're using a tax agent, they may be able to assist you with lodging your return and provide valuable advice.   Seek professional advice If you're unsure about any aspect of your financial situation, seek guidance from a qualified accountant or financial advisor. They can help you navigate complex tax laws, maximize your deductions, and provide tailored advice based on your specific circumstances.   The end of the financial year is a good time to reflect on your financial progress, make necessary adjustments, and plan for the future. By following this checklist, you can streamline your financial affairs, minimise tax liabilities, and set yourself up for a successful year ahead. Remember, seeking professional advice is always beneficial to ensure you make the most of the opportunities available to you. If our team can be of any help to you, please contact us.  Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. * Disclaimer: This blog post provides general information only and should not be considered as financial or tax advice.

Take a mini-break at the township of Berry Horizon Bank Berry has your back. Berry was awarded Gold as the Top Tourism Town in NSW in the 2022 NSW Top Tourism Awards, so you’re sure to have a wonderful time. We have a list of the top attractions and activities that will ensure your stay in Berry is sensational. There's something for everyone here! You can find exactly what you're looking for, whether it's an outdoor adventure or a relaxed shopping day with friends. Plus, our recommendations are from locals who know their way around town, so you'll be exploring as if you were one of them! Don’t forget to check out Horizon Bank in Berry. We’re here to help you with your banking needs. There’s also an ATMx ATM at the branch if you need one. Berry, located in the Shoalhaven region of New South Wales, is a gorgeous little town that offers its visitors the perfect mix of countryside vistas, boutique shops, cafes and wineries. This charming destination is definitely worth a visit if you're planning a day trip or mini break. We’re sharing a comprehensive guide to help you plan your stay in Berry, from getting there to things you absolutely must do during your visit.   Getting There: If you drive to Berry from Sydney, you can take the Princes Highway towards the south and turn off at Berry. It's just about a two-hour drive from Sydney. If you prefer public transport, hop on the South Coast Line from Sydney Central Station and get off at Berry Station. Alternatively, you can take a bus from Sydney's Central Station, which takes around three hours.   Where to Stay: Berry has a range of accommodation options that are suitable for different budgets and needs. From camping, caravanning, farmstays, holiday houses, hotels, motels cosy bed and breakfasts to luxurious resorts, this town has something for everyone.   Things to Do: Despite being a small town, Berry has opportunities for outdoor adventures, cultural experiences, and more. Here are some top things to do while you're in Berry. Enjoy the Outdoors: Berry is blessed with some stunning natural scenery, perfect for outdoor enthusiasts. Take a stroll along the Seven Mile Beach and soak up the sun. Cambewarra Lookout Seven Mile Beach You can also rent a bike and explore the nearby mountain trails to admire the picturesque views.   Indulge in Local Cuisine: One of the best ways to know and understand a place is through its food; Berry is no exception. One highly recommended restaurant to try is The Hungry Duck - a modern Asian restaurant serving delicious and unique dishes that will tantalise your taste buds. South on Albany is another place for a fine dining experience showcasing local produce and wines.    Markets The Berry Farmers’ Market is a wonderful place to try some of the local produce. It features bakeries, produce and specialty foods. It’s on every Thursday afternoon at the Berry Showground. Why not browse over 100 stalls at the monthly Berry Markets at the Berry Showground. They’re held on the first Sunday of every month (except February). The market offers handmade / hand-produced products, arts and crafts, locally grown vegetables and produce, collectables, books, plants, leather goods, clothing and many other interesting stalls to browse.   Explore the Town: While you're in Berry, take some time to stroll around and explore this gorgeous little town. One of the most popular spots is the Berry Donut Van, which serves up fluffy and freshly made donuts, which are definitely worth a try. Berry Donut Van Berry Museum You can also visit the Berry Museum, one of the town's most historic buildings, showcasing the town's history. It is located on Queen Street. Stop in at the Precinct Galleries where you can take in contemporary Australian sculpture, objects, functional, and contemporary art. You’ll find art exhibitions by local artists, art and craft classes at the Historical Muir House Gallery.   Berry is a picturesque destination with much to offer its visitors. From its beautiful natural scenery, outdoor activities, cultural experiences, and flavoursome local cuisine to delightful accommodation choices and welcoming locals. Berry provides a great escape from the hustle and bustle of city life, perfect for short weekend holidays or long getaways.   Plan your itinerary well ahead of time and get ready to immerse yourself in the charming little town of Berry. Don’t forget to visit Horizon Bank while you’re there! Our newest branch is open for business in 2023, providing locals with personalised banking needs.   Horizon has branches in Berry, Nowra & Ulladulla (Shoalhaven region). In Moruya (Eurobodalla region), Thirroul, Wollongong & Albion Park (Illawarra). Bermagui, Bega & Merimbula (Bega Valley – Sapphire Coast).

As teenagers embark on their journey toward adulthood, it's crucial to equip them with essential life skills, and one of the most important skills is managing their finances responsibly. Perhaps they are about to start their first job or are looking to save up for something special. Opening a bank account for teenagers can be an excellent way to introduce them to the world of personal finance, teaching them valuable lessons about money management, budgeting, and saving. In this blog post, we'll provide you with a step-by-step guide on setting up a bank account for your teenager, empowering them with financial independence.   Step 1: Research and Choose the Right Bank We suggest looking for accounts that offer zero transaction or setup fees, attractive interest rates, online banking options and branch support for when you want to have a chat to a real person! Here at Horizon, we offer an account that is specifically for teenagers, the Teen Saver account. For kids wanting to focus on savings, take a look at our Youth Reward Saver account.   Step 2: Gather Required Documentation Before contacting the bank, it’s important to ensure you have all the necessary documents. This typically includes identification documents that verifies your full name, date of birth and home address. For example, this could include a passport/birth certificate, Medicare card and a letter addressed to the teenager at their home address from school etc. For more information on identification documents required, reach out to us for clarification.   Step 3: Visit or contact the Bank If you can, pop into the branch with your teenager or, if they’re comfortable, send them in independently. They will need to be there! Encourage them to take an active role in the process by asking questions and engaging in the conversation. This will help them develop a sense of ownership and responsibility towards their finances. The Horizon Bank team can help set up online banking, a debit card and answer any questions you might have. We have branches in Wollongong, Ulladulla, Albion Park, Thirroul, Bega, Merimbula, Moruya, Bermagui, Nowra and Berry.   Step 4: Educate them on Financial Literacy Make sure your teenager understands the basics of money management. Teach them about budgeting, saving, and the importance of responsible spending. Encourage discussions around long-term goals, such as saving for a car or something they have their eye on, to provide a sense of purpose and discipline.   Setting up a bank account for teenagers is an invaluable step towards fostering financial independence and responsible money management. By empowering our teenagers with their own accounts, we equip them with the necessary tools to make informed financial decisions and set them on a path towards a secure future. If you have any questions or want to learn more, reach out to Horizon Banks's friendly local team.

Want to know how Horizon Bank is giving back to the local community? Horizon Bank’s Community Grants Program has created a meaningful impact by helping those with positive initiatives make them happen. Through our grants program, we strive to provide opportunities for individuals and organisations that need assistance to create beneficial impact. From providing vital equipment that aids in air, land and sea rescues to green energy installations as well as accessibility solutions for those with disabilities — we are proud of the transformative efforts these projects have instigated within the communities they serve.   About the Program In creating the Horizon Bank Community Grants Program, our mission was, and is, to provide funding opportunities to organisations that provide lasting benefits to the local communities in which we operate. To date, we have put over $50,000 in funding back into our communities via some very worthwhile projects. Applications for grants are opened to the public once a year and announced via our website, newsletter and social media channels. To meet eligibility criteria, it is important for there to be project sustainability. Organisations must demonstrate how a grant will make an ongoing positive impact to the lives of those in their community. Volunteers at Bega District Rescue Squad help to keep our community safe Earlier this year, a grant application was submitted by Kevin from the Bega District Volunteer Rescue Squad. Since 1975 this team of volunteers has been providing timely rescue responses in motor vehicle accidents, search and vertical rescue. Kevin approached Horizon Bank about acquiring funding via a grant to purchase an LX Ram C and a LX Ram Claw and had their grant application approved. This equipment enhances the operational capabilities for Bega District Rescue Squad in the extrication of casualties in motor vehicle accidents when every moment matters. Due to the ever-changing construction of motor vehicles it is important that rescue equipment is up-to-date to ensure that the best possible outcomes are achieved. Do you know of an organisation that could benefit from funding opportunities? Horizon Bank Community Grants open for applications once a year. To learn more about the program, click here. To stay updated to when applications open, make sure you are following us on Facebook and Instagram.

Travelling? Make it easier with Horizon Bank's Low-Fee Credit Card. With the Canstar five-star rating, you can be sure that you’re getting the best value for your money when travelling! Our low-fee credit card offers competitive interest rates and reliable backup when abroad, giving you peace of mind while on holidays or business trips. Take advantage today and get more freedom in your travels and make life simpler by taking control with Horizon Bank's Low-Fee Credit Card. For business travellers and those who frequently travel for pleasure, it can be difficult to keep track of your expenses and make sure you’re getting the best value for your money. Horizon Bank understands that and offers its customers a low-fee credit card with a Canstar five-star rating, ensuring that you get the most out of your travels without breaking the bank. Benefits of Low-Fee Credit Cards Horizon Bank's Low-Fee Credit Card comes with a number of benefits that will make travelling easier and more affordable. First, by eliminating costly foreign transaction fees, you can access hundreds of locations worldwide without worrying about ATM withdrawals. Additionally, this card offers competitive interest rates so you can save money on travel expenses while abroad. When travelling abroad, security is always a concern. With Horizon Bank's Low-Fee Credit Card, you get added protection against fraud and theft with multi-layered security measures such as chip technology and secure encryption software that keeps your information safe from hackers. The card also includes 24/7 fraud monitoring so you can rest assured that all transactions are being monitored closely for any suspicious activity. Make every journey hassle-free with Horizon Bank's Low-Fee Credit Card! Don’t wait any longer - take control today and start making life simpler while travelling smarter with our low-fee credit card. To learn more, enquire online today or pop into one of our local branches, located along the NSW South Coast. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong.

This article provides you with handy tips for sending money overseas. All great information you need to be ready with before you start. Use A Reputable International Money Transfer Service There are different services and apps out there that offer money transfer services. To ensure you are using a reliable and secure service, ask your bank if they can transfer money overseas. Horizon is able to send money overseas via a Telegraphic Transfer (TT) payment through Convera. In most cases a TT is the quickest way to send funds abroad, and is a reliable way to send funds to a bank account internationally. Whilst we can typically deliver funds to beneficiary banks in 2-3 business days, beneficiary banks can sometimes take up to 5 business days to credit those funds to the applicable beneficiary account. Sending a TT in the beneficiary’s currency is usually more cost effective and helps ensure the funds are credited more quickly, as the payment can go “straight through”. Stay On Top of Exchange Rates If you have some time before needing to send a payment, check exchange rates before you proceed with the money transfer to maximise your dollars. Within Horizon’s Online Banking, you will be shown the exchange rate (provided by Convera) for the currency you are choosing to send. The exchange rate is refreshed to the current rate at the time the transfer is submitted. If sending money to a European country, you will need an International Bank Account Number (IBAN). Double-check any details you enter before confirming your transfer to avoid any mistakes. It is a requirement to obtain the recipients full name, street address, mobile number and account number as well as the recipient’s bank details. Make Sure You Have The Correct Details If sending money to a European country, you will need an International Bank Account Number (IBAN). Double-check any details you enter before confirming your transfer to avoid any mistakes. It is a requirement to obtain the recipients full name, street address, mobile number and account number as well as the recipient’s bank details. Transfer limits If you are making transfers from your bank, be sure to check your transfer limit. You may need to get in touch and request a temporary limit increase to complete your international transaction. If you’re looking for a convenient, secure way to transfer money overseas then get in touch with us about our telegraphic transfer service. We’re here to make the process easy and provide a great experience. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong. *Please note that TT's are sent via a network of correspondent, intermediary and/or beneficiary banks, which sometimes levy a small handling charge on your payment. Any such fees, and payment delays, are out of our control.** Horizon Bank has appointed Western Union Business Solutions (Australia) Pty Ltd (ACN 150 129 749; AFSL 404092) trading as Convera (“Convera”) to assist it in fulfilling certain foreign exchange and payment services, including telegraphic transfers. These services are provided to you by Horizon Bank. Fees and charges may apply, please refer to the terms and conditions and Fees and Charges Schedule issued by Horizon Bank. This communication has been prepared solely for informational purposes and does not in any way create any binding obligations. No representations, warranties or conditions of any kind, express or implied, are made in this communication.

What is home equity? Home equity is the portion of your home's value that you own outright, free and clear of any loans. It grows as you pay off your home loan and home values appreciate. So, if you have been in your home a few years, chances are good that the home equity has grown too. That growth could mean an opportunity to refinance your loan. Let’s explore this further. Loan refinancing Loan refinancing typically involves taking out a new loan with better terms than your existing loan and using it to pay off the balance of the old loan. The new loan may have a lower interest rate, which could save you money every month on your mortgage payment. Or, it may have a shorter term, which could save you money over the life of the loan by pay it off more quickly. How to calculate equity When it comes to personal finance, one of the most important concepts to understand is equity. Equity is the portion of a property's value that is owned by the homeowner, and it can have a significant impact on a family's financial stability. Calculating equity is relatively simple: it is simply the difference between the property's current market value and the outstanding balance on the mortgage. For example, if a home is worth $200,000 and the mortgage balance is $150,000, the equity would be $50,000. Families with high levels of equity are typically better positioned to weather financial challenges, such as job loss or medical bills. Furthermore, equity can be used as collateral for loans, making it an important asset for many homeowners. What is LVR? Loan to Value Ratio (LVR) is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased. The asset is usually a property, and the loan is usually a mortgage. Lenders use LVR to assess the risk involved in lending money, as it represents the amount of equity that the borrower has in the property. A high LVR means that the borrower has less equity and therefore more risk, while a low LVR indicates that the borrower has more equity and less risk. In order to calculate Loan to Value Ratio, simply divide the loan amount by the value of the property. For example, if you are looking at purchasing a property worth $500,000 and you have a deposit of $100,000, your Loan to Value Ratio would be 80%. This means that you would have 20% equity in the property. Factors that influence equity There are a number of factors that can influence the equity in your home. The most important factor is the value of your property. If your home is worth more than you owe on it, then you have equity. However, if you owe more than your home is worth, then you have negative equity. Another important factor is the amount of money you have paid into your mortgage. The more money you have paid, the more equity you will have. Additionally, the length of time you have been paying into your mortgage can also influence equity. If you have only been making payments for a short period of time, then you will have less equity than someone who has been making payments for a longer period of time. Finally, the interest rate on your mortgage will also impact equity. A higher interest rate will mean that more of your payments will go towards interest, rather than principal, and as a result, you will build equity more slowly. Ways to increase equity in your home If you're looking to increase the equity in your home, there are a few things you can do. One is to make sure that your home is well-maintained and updated. This means keeping up with necessary repairs, painting the interior and exterior of your home on a regular basis, and making any other cosmetic upgrades that may be needed. Another way to increase equity is to pay down your mortgage as much as possible. This will reduce the amount of interest you're paying and increase the portion of your home that you own outright. Finally, you can try to increase the market value of your home by making strategic improvements that will appeal to buyers. These could include adding another bedroom or bathroom, or updating the kitchen or flooring. By taking these steps, you can help to increase the equity in your home. If you are thinking about refinancing your home loan, be sure to consider the costs of refinancing, such as application fees and closing costs, before making a decision. Horizon Bank is here to help you with your banking needs. Visit us at a local branch or online to learn more about our refinancing options. Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong.

Did you know that electric and hybrid cars produce significantly fewer emissions than traditional petrol or diesel vehicles? If you're looking to reduce your carbon footprint, switching to an electric or hybrid car is a great way to do it. In this blog post, we'll take a look at the benefits of electric and hybrid cars. What is a carbon footprint and how can electric and hybrid cars help reduce it?The carbon footprint is the total amount of carbon dioxide and other greenhouse gases that are emitted by an individual, organisation, event, or product. Greenhouse gases are released when fossil fuels such as coal and oil are burned. They contribute to the Earth's greenhouse effect, trapping heat in the atmosphere and causing the Earth's temperature to rise. Electric and hybrid cars can help to reduce an individual's carbon footprint because they produce zero emissions. In addition, electric and hybrid cars are often more fuel-efficient than traditional fuel-powered cars, meaning that they require less fuel to travel the same distance. As a result, electric and hybrid cars offer a cleaner and more efficient way to travel, helping to reduce our impact on the environment. How do electric and hybrid cars work?Electric cars are powered by batteries that store electricity, which is then used to run the car's motors whereas hybrid cars have both an electric motor and a fuel engine. The electric motor is used for low-speed driving, while the fuel engine is used for higher speeds. Both hybrid and electric cars use regenerative braking to help charge the batteries. When the brakes are applied, the car's kinetic energy is converted into electrical energy, which is then stored in the batteries. What are the benefits of owning an electric or hybrid car?Hybrid cars and electric cars are becoming increasingly popular as people look for more efficient and environmentally friendly ways to travel. There are a number of benefits to owning an electric or hybrid car! They produce no emissions They’re more fuel-efficient than traditional petrol or diesel cars They’re often cheaper to maintain Electric cars also have the potential to save you money on fuel costs, as you’ll only need to charge your battery rather than buying/refilling petrol or diesel. Hybrid cars offer a compromise between electric and traditional petrol or diesel cars, as they still run on petrol or diesel but also have an electric battery that helps to power the car and reduce emissions. Ultimately, the decision of whether to buy an electric or hybrid car depends on your personal circumstances and preferences, but there’s no doubt that they offer a number of benefits over traditional petrol or diesel cars. Consider your daily driving habitsIf you have a long commute or frequently drive on the highway, a hybrid car may be a better option since it can run on petrol if needed. Electric cars are best suited for metropolitan driving, where there are plenty of charging stations available. Think about your budgetHybrid and electric cars tend to be more expensive than traditional petrol or diesel-powered vehicles, but with fuel prices fluctuating rapidly they may save you money in the long run. Do your researchTest drive a few different models before making your final decision. Reach out to experts, friends, family or peers who have experience with electric and hybrid vehicles. With so many options available, it's important to find the right car for you. Horizon Bank has a Green Car Loan that offers competitive rates and terms to help you finance the purchase of a new or used hybrid or electric vehicle. The Green Car Loan from Horizon Bank is a great option for those who are looking to finance a green car. The loan offers competitive rates and terms, making it easy to get a car loan for a new or used hybrid or electric vehicle. Get in touch with your local branch today and let us help you get behind the wheel of your new car! Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong.