Remembering Bill McGregor

It is with great sadness that we acknowledge the passing of former W&D Chairman, Bill McGregor. Bill died on Christmas Day, leaving behind a legacy of leadership and community service. 

Bill co-founded Webster Investments Ltd in 1966 alongside the late Ken Baird. Under his leadership, Webster Investments merged with Dolilta Investment Ltd in 2007 to form W&D Finance. At that time, Bill was appointed Director and joint Chairman alongside the late Geoff Cunningham, continuing in a Director role until his retirement in 2023.  

Beyond his professional achievements, Bill was committed to his community. A long-time member of the Ballarat-Apex Club, he played a pivotal role in establishing Sovereign Hill, a cherished Ballarat attraction that welcomes 450,000 visitors annually. Bill served on the board of Sovereign Hill for over 40 years. His dedication to the region was recognised with The Medal of the Order of Australia (OAM), and in 2005, he was awarded a fellowship at Federation University. He also served as Director of Sandhurst Trustees, a Bendigo and Adelaide Bank subsidiary, for many years. 

Bill will be remembered for his leadership, generosity and wisdom. Our thoughts are with his wife, Rosie; his children, Hamish, Hugh and Anna; his three grandchildren; and all who knew him. 

Bill’s legacy will endure both within W&D and the wider community he served. 

Vale Bill McGregor. 

Cash rate cut

Last week the Reserve Bank of Australia (RBA) announced a 0.25% reduction in the cash rate. The move is the first reduction since November 2020 and brings the cash rate down to 4.10%. 

Why did the RBA cut the cash rate? 

The RBA’s decision reflects a combination of economic factors. Inflationary pressures have moderated more quickly than expected. In the December quarter, underlying inflation dropped from 3.6 per cent to 3.2 per cent, the lowest annual rate since late 2021. Wage growth pressures and subdued growth in private sector demand also gave the Board more confidence that inflation is moving toward the target range of 2-3% sooner than anticipated.

A cautious approach to monetary policy 

The 0.25% cash rate cut is a relatively modest adjustment due to some remaining inflationary risks including unexpectedly strong recent labour market data. Although the reduction in the cash rate is not a surprise, we think the call would have been closer than people realise. Underlying inflation is still someway from the 2.5% midpoint target. The RBA stated that it remains cautious on prospects for further policy easing at this stage and is “resolute in its determination to return inflation to target and will do what is necessary to achieve that outcome.”

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W&D in the community

W&D Finance teed up for the Ballarat McCallum Golf Day.

On Friday, February 7, W&D Finance took part in Ballarat’s biggest corporate golf day. The team of Rob Cunningham, Paul Burke, Steve Coltman and Michael Rice were so focused on their game that they forgot to get a team photo! Luckily, we have this stunning drone shot of the Midlands Golf Club from the day.

The funds raised will go toward the construction of four purpose-built Specialist Disability Accommodation dwellings for up to 12 people in Alfredton.

We’re proud to support this fantastic community event and look forward to being part of it for years to come. To learn more about McCallum Disability Services Inc click here.

Cricket news

The cricket season in Ballarat is approaching the pointy end, with finals kicking off in early March.

W&D Finance is proud to sponsor Mount Clear Cricket Club (the Mounties) and Wendouree Cricket Club (the Red Caps). We wish both clubs' senior and junior sides the best in their remaining games.

Both the Mounties and the Red Caps are in the top three of the Senior Men's First XI competition, we can’t wait to follow their finals campaigns.

Last Friday, the two teams faced off in the Senior Women's First XI, with the Mounties claiming a 61-run victory at home.

Our 27th prospectus is now available. It contains important information about our operations and the terms and conditions for the issue of our debentures. You can download it here, or pop into the office to pick up a hardcopy.

Loans

We offer a range of mortgage loan products with competitive interest rates, head to our website to see our latest loan offers.  

And remember, we’re not a bank, we are your financial partner. This means unlike at a bank, you will talk directly to our decision-makers, giving you a tailored financial solution and a faster turn-around.