2019 - RACQ's year in review
A year of achievement for Queensland’s largest Club.
2019 has been a year of giving back for Queensland’s Largest Club following catastrophic weather events and work in the community with the RACQ foundation.
In the aftermath of the Townsville flood, The Club was there for its members and deployed a convoy of roadside patrol vehicles, tow trucks and the Mobile Member Centre (MMC) to Townsville.
RACQ Bank also relaxed mortgage repayments for members facing hardship and exempted them from an interest rate rise following the floods.
The RACQ Foundation continued to help Queenslanders doing it tough, providing almost $9 million in funding to help communities in need since its launch in 2011.
This year, the RACQ Foundation approved funds totalling just under $1.05 million to help community organisations recover from natural disasters and delivered three assistance projects – the Morven Drought Assistance Project, Kingaroy Drought Assistance Project and Townsville Flood Assistance Project.
The RACQ Board also committed annual funding of $1 million, or 5% of the organisation’s surplus after tax, whichever is greater, to provide increased certainty for the RACQ Foundation’s future work.
RACQ continued to live up to its motto ‘it pays to belong’, returning more than $166 million^ in value to members through a range of discounts and benefits.
This included $93+ million in insurance premium loyalty discounts, more than $24 million in savings programs, $9 million in Puma fuel discounts and $5 million in theme park (Village Roadshow and Dreamworld), attraction and movie ticket discounts.
The year proved to be one of significant investment for RACQ Bank, which developed and delivered a new banking app and has been developing a new core banking system.
In addition to being Australia’s fourth fastest growing bank, RACQ Bank received six five-star ratings from Canstar for home loan products and achieved 18% growth in its lending portfolio – more than four times the industry standard.
On the roadside, RACQ released a new Roadside Assistance app which, combined with the state-of-the-art dispatch service launched in 2018, enabled patrols to deliver Roadside Assistance on more than 815,507 occasions, with 93.8% of member’s vehicles mobilised.
The Club delivered six education programs to almost 60,000 Queenslanders, including road safety awareness for primary school children (Streets Ahead), senior school road safety and licencing education (Docudrama and Driver IQ), money management skills for school seniors (Cash IQ), advice on car child restraints (Kids & Cars) and driver safety for older drivers (Years Ahead).
This year, RACQ acquired the Mount Cotton Driver Facility to develop the RACQ Mobility Centre for Excellence – the first of its kind in Queensland – which will be used for research, innovation, driver training and testing of connected and automated transport technology.
Despite investments and major weather events including the Townsville flood, the second-largest insurance event in RACQ history at an estimated cost of $115 million, the RACQ Group returned a net profit of $33.5 million.
2018 -19 at a glance:
- 89.89% member satisfaction
- 93.4% member trust
- 25 years RACQ has sponsored LifeFlight
- Almost $9m funding approved for the RACQ foundation since 2011
- $5.02bn total assets
- $1.46bn total revenue
How we’ve helped:
- 1.38m vehicles covered by Roadside Assistance
- 50,000+ lives saved by LifeFlight in 25 years of RACQ sponsorship
^ Figures based on FY19 statistics. Figures updated as at 19 November 2019.