SCF rewords Investment Statement

SCF rewords Investment Statement

A big bouquet to South Canterbury Finance for taking note and now referring to their unsecured deposits in their latest Investment Statement as "Unsecured Deposits"

As pointed out by Terry Fullerton on 16 April on his financial website moneymarket.co.nz, the previous SCF Investment Statement called the unsecured deposits "Deposits" which was totally confusing and led to the conclusion that the Deposits were not covered by the Deposit Guarantee Scheme. As suggested at the time on the money market website "It would have been much clearer if SCF had chosen to define their Deposits as Unsecured Deposits" which they have now done.

Mr Fullerton says “ This is a good example of how new generation social media websites like my website moneymarket.co.nz can be used to give people a forum to make helpful comments which make it easier for other investors to understand what are often complex documents.”

Moneymarket is a New Zealand financial information and forum website founded in 2005 and focusing on providing borrowers and investors with financial information in an easy to use format. Visit moneymarket at http://www.moneymarket.co.nz

ENDS

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