Veda Advantage Latest News

Business sentiment: it’s tough, but we’re surviving

31/10/2008 9:36:48 AM

Business sentiment: it’s tough, but we’re surviving.

Veda Advantage business sentiment research released today, reveals the business community is significantly concerned about debt and liquidity issues in the current financial climate, and most have taken cost-cutting measures. At the same time, 61% of the 200 business leaders surveyed said economic uncertainty has not yet inhibited their business from investing in some new projects.

The survey of Australian business owners and senior corporate management also found that the economic downswing has not led to a reduction in its allocated budget for research and innovation, although other significant costs had been reduced. Businesses participating in the survey identified cost-reduction measures in the following order: reduced expansion plans 55%, reduction in staff remuneration wages 41%, reduction in hospitality or entertainment costs, 46% company acquisitions placed on hold, 39%, and IT investments placed on hold, 44%.

Almost 40% of companies surveyed claimed they are exposed to a large amount of debt that was unlikely to be repaid, with only 42% of business people surveyed stating they had put steps in place to reduce the potential impact of that bad debt. Only 17% of business people surveyed had found it difficult to secure credit from a financial institution in the last 12 months.

Additional Veda Advantage data released earlier this week saw Business Credit Demand drop in the July to September quarter when compared to the same period last year. Business credit enquiries fell 2.6% in July, 6.3% in August and a significant 9.5% fall in September. Although most account types saw a decrease in the July to September quarter, 30 day accounts actually increased by 5.5% year on year, indicating that businesses are more willing to commit to short term credit. In comparison property mortgage enquiries experienced the largest fall, down by 41% year on year.

Veda Advantage CEO Rory Matthews cautioned that cost-reduction measures are just one aspect of risk mitigation in times of financial instability and highlighted the need for more companies to take immediate steps to protect themselves from business relationships with risky customers. The Veda Advantage survey shows that almost 50% of businesses had noticed a change in their customers’ or clients behaviour in the past six months – such as a person taking longer to repay their bills.

“Now more than ever before there is a need for all businesses to ensure they have effective credit-checking and approval systems in place, to eliminate bad debtors, and do every thing within their means to make sure they do not become another casualty of the credit crunch. The same need applies to businesses of all sizes - ranging from sole traders and small businesses to billion dollar companies,” Mr Matthews said.

Detailed findings of the Business Sentiment Survey include:

Bad debt
• More than 40% of Australian businesses are exposed to a large amount of bad debt (55% are not exposed to bad debt, 5% were unsure.) More than 25% of owner/operators surveyed were exposed to less than $500 000 worth of bad debt.

Risk mitigation
• Almost 60% of Australian business had not done anything in the past six months to minimize their exposure to bad debt, however, 42% of businesses have done something in the past six months to reduce its impact to bad debt
• Only 17% of businesses had found it difficult to secure credit from a financial institution in the last 12 months, leaving 83% not finding it difficult to secure further credit.
• More than 10% of business men and women said they would borrow more that $100 000, but less that $500 000 dollars in the next 12 months. Only 3% said they would borrow more than 1 million, but less than 5 million.
• Almost 65% of businesses said they were not likely to apply for credit in the next 12 months.

Customer impact
• Almost 50% of Australian businesses have noticed a change in client or customer behaviour– such as a person taking longer to repay their bills - in the past six months.

Business Impact
• More than one third of businesses have been affected by liquidity and cashflow issues in the past year.
• Of those affected by liquidity or cash flow issues 58% have been affected by an inability to expand, 47% were unable to unable to pay their bills on time, 36% needed to apply for short term credit, and 12% could not afford to pay staff.*
• More than 43% of respondents could not put a dollar figure on the amount of money lost due to the current financial uncertainty, while 40% said the value was less than $500 000.
• 61% of Australian business men and women said the recent financial uncertainty had not inhibited their business from investing in new projects, and a further 67% said instability in financial markets had not lead to a reduction in its allocated budget for research and innovation. No business located in Canberra had reduced their budget for innovation, while 75% of businesses in Tasmania had put their innovation projects on hold.

Degree of concern
• Nearly 77% of Australia’s business people are concerned about the fallout from the global financial crisis (13% extremely concerned, 20% very concerned), however 16% were unconcerned.
• Every single business person surveyed over the age of 65 was concerned about the fallout of the financial crisis (50% very concerned).

“It is encouraging seeing that 42% of Australian businesses have taken steps in the past six months to reduce the impact of bad debt, but we would encourage all Australian businesses to introduce measures to minimise this risk. It is alarming to notice that almost 40% of Australian businesses are currently exposed to a large amount of bad debt. Also alarming is that 100% of people surveyed over the age of 65 were concerned about the current financial uncertainty. If all businesses understood how simple it is to put effective measures in place to help screen out these bad debtors, I’m sure we would see some different outcomes. Now is not a time to take business risks,” Mr Matthews said.

Veda Advantage’s research was conducted by online research company pure profile, in accordance with both Australian and International guidelines for online fieldwork. The research consisted of 202 business owners and senior executives. The survey respondents were from a broad cross section of the business community, and had to be an owner, operator, CEO, CFO, COO, General Manager, or Senior Level Executives. The size of businesses surveyed range from companies earning less than up to $500 000, to companies earning more than $10M.

- Ends-
*Not all percentages add up to 100%, as business people surveyed cold opt for more than one answer applicable to their situation.

For more information contact:
Sally Robertson at Launch Group 02 9270 0289 or 0400 927 003.
Yesica Ares at Launch Group 02 9270 0204 or 0413 791 988.

Veda Advantage www.vedaadvantage.com
Veda Advantage has been at the forefront of the information business for many decades. Issues such as privacy, data security, fraud and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. Veda Advantage holds the country’s largest database of credit files for more than 14.5 million credit-active Australians. The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage – protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile.

You can apply for a copy of your business or company credit file at www.mycreditfile.com.au

DISCLAIMER
Purpose of Veda Advantage media releases:
Veda Advantage media releases are intended as a contemporary contribution to data and commentary in relation to consumer credit activity in the Australian economy. The information in this release is not intended to provide guidance or commentary as to Veda Advantage’s financial position nor does it constitute legal, accounting other professional financial advice. The information may change and Veda Advantage does not guarantee their currency or accuracy.

To the extent permitted by law, Veda Advantage specifically excludes all liability or responsibility for any loss or damage arising out of reliance on information in this release and the data in this report, including any consequential or indirect loss, loss of profit, loss of revenue or loss of business opportunity.

Business Credit Enquiries Decline Rapidly

28/10/2008 11:00:17 AM

Veda Advantage data shows businesses credit enquiries
plummet in first financial quarter of 2009.

Veda Advantage’s business credit demand index, released today, reveals that business credit applications for the July – September 2008 quarter fell by 6% in comparison to the same period last year. Businesses making enquiries for credit dropped off rapidly in August and September in the first quarter of the 2009 financial year, with year on year business credit enquiries falling 2.6% in July, 6.3% in August and a significant 9.5% fall in September.

This follows a 2.4% decrease in business credit enquiries in the April to June quarter of 2008, and a 7% fall in the number of business credit applications in the January to March quarter of 2008.

Businesses in South Australia experienced the greatest drop off in credit demand in the July to September quarter of 2008, falling by almost 10% year on year. During the same quarter, New South Wales fell by 6.6%, Queensland fell by 6.4%, Western Australia fell by 7.6%, and Victoria fell by 4.8%.

Analysis of Veda Advantage’s database of more 6.3 million business enquiries registered with Veda Advantage, show business have shied away from applying for credit, with year on year analysis indicating credit applications have been in decline every month since December 2007, amidst turbulent financial markets.

Veda Advantage CEO, Rory Matthews, said the fall in commercial credit applications indicates that businesses like consumers are feeling the impact of current market volatility and are wary of taking on more debt in uncertain economic times.

“The results from the latest business credit demand index are key indicators in determining business behaviour and credit uptake. The dramatic decline in credit enquiries is in line with current economic trends and the financial instability we’ve been experiencing in both Australian and global markets,” said Mr Matthews.

Business credit accounts covered by this study include: 30 day loans, hire purchase, lending proposals, commercial rentals, credit cards, bill of sale, utilities, personal commercial loans, real property mortgage, overdraft and more.

Property mortgage enquiries experienced the largest fall in the first quarter, down by 41% for the same period last year, and quarter on quarter figures showing a 15.7% decrease. Hire purchase enquiries were down by 10% in the July to September period year on year analysis, and 17% quarter on quarter, 30 day accounts enquiries increased by 3.9% year on year and represented more than a quarter of all credit enquiries, business credit card enquiries decreased by 16% year on year, seven day accounts decreased by 16% year on year, yet increased marginally when compared with the previous quarter. Premium finance enquires had the largest year on year increase at just over 50%.

“Veda Advantage data suggests an increase in business opting for shorter forms of credit such as a 30 day loan, but we have noticed a sharp decline in fixed debt loans such as mortgages, which have declined by 41% in this last quarter, indicating that businesses may be nervous about locking themselves into longer-term debt while we are in a period of financial uncertainty.

“It’s anticipated that commercial credit enquiries will remain in step with current economic conditions and our data shows that businesses and companies have responded to the slowing economy, reducing the number of business credit enquiries since December 2007. In particular, September this year saw the largest drop in enquiries at 9.5% which is significant, and may be an indicator of a trend in the coming financial year,” said Mr Matthews.

- Ends-

For more information contact:

Sally Robertson at Launch Group 02 9270 0289 or 0400 927 003
Yesica Ares at Launch Group 02 9270 0204 or 0413 963 502

About Veda Advantage www.vedaadvantage.com
Veda Advantage has been at the forefront of the information business for many decades. Issues such as privacy, data security, fraud and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. Veda Advantage holds the country’s largest database of credit files for more than 14.5 million credit-active Australians. The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage – protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile.

The Business Credit Demand Index looked at more than 6.3 million credit enquiries from 2004 to 2008 registered on Veda Advantage’s commercial database. Business CDI measures total Business Credit application activity over each quarter, comparing it with year on year analysis. Business CDI looks at all account types, including 30 day account, hire purchase, lending proposal, real property mortgage, leasing, commercial rental, communication services, credit card premium finance, seven day account, trade finance bill of sale overdraft, personal loan, utilities, cheque wholesale finance, cash on delivery factored account, 60 day account, continuing credit contract, 90 day account, bridging finance, deferred payment debit card.

You can apply for a copy of your business or company credit file at www.mycreditfile.com.au

DISCLAIMER
Purpose of Veda Advantage media releases:
Veda Advantage media releases are intended as a contemporary contribution to data and commentary in relation to consumer credit activity in the Australian economy. The information in this release is not intended to provide guidance or commentary as to Veda Advantage’s financial position nor does it constitute legal, accounting other professional financial advice. The information may change and Veda Advantage does not guarantee their currency or accuracy.

To the extent permitted by law, Veda Advantage specifically excludes all liability or responsibility for any loss or damage arising out of reliance on information in this release and the data in this report, including any consequential or indirect loss, loss of profit, loss of revenue or loss of business opportunity.

Veda Advantage and Coface Australia connecting businesses across the globe by launching EasyNumber

16/10/2008 10:41:42 AM

Coface Australia and Veda Advantage have joined forces to implement EasyNumber, a universal identification system which allows companies and banks to identify their commercial partners across the world. To date, 58 million business entities are already registered covering 200 countries ranging from Western Europe, to South America, Japan and Singapore.

Veda Advantage’s General Manager, Sales and Marketing, Russell Evans, announced the partnership at the Australian Institute of Credit Management’s Annual Conference. “Both Veda Advantage and Coface have a reputation for excellence in information provision and the establishment of the EasyNumber system further extends our offering. Many of our customers have told us they are facing uncertain times and they are increasingly reliant on fact-based information to mitigate risk. We are delighted to work with Coface to assist Australian businesses with competing overseas by clearly identifying who they are dealing with and in turn helping them to make better commercial decisions”.

The EasyNumber (Enterprise Access System) is jointly sponsored by Coface and Creditreform, Europe’s leaders in company information. The launch came in response to the need for a universal company identifier. The EasyNumber system is an authentic worldwide directory with a continuously updated repository of companies. Australian businesses will now be allocated a single, universal EasyNumber identifier and will be added to this worldwide directory.

According to Christian Vollbehr, General and Country Manager of Coface Australia, “Easy Number is an innovative and open-ended solution which offers a non-proprietary system with distinct advantages over proprietary systems. Until now, there was no open and effective solution capable of creating a unique, global business identifier”. “This not only helps them keep international corporate databases up to date, but also allows them to check the identity of their customers and whether they are in a position to honor their financial commitments.”

Rory Matthews, CEO Veda Advantage said “Now, more than ever, businesses require information to be easily accessible, transparent and uniform. There is a natural tension that exists in business between the desire for growth and the need for risk-based decision making. We have found that successful businesses think on a global scale but pay attention to detail at a local level. The EasyNumber system offers another layer of information to our customers and will help enable risk-based decisions on both a local and global scale.”

Media Contact:
Tania Muniz - +61 2 8235 8615 - email : tania_muniz@coface.com.au

About Coface - www.coface.com.au www.coface.com
Coface's mission is to facilitate global business-to-business trade by offering its 130.000 customers four business lines to fully or partly outsource trade relationship management and to finance and protect their receivables: credit insurance, factoring, ratings and business information and receivables management. Thanks to the worldwide local service delivered by 7,000 staff in 65 countries, over 45% of the world's 500 largest corporate groups are already customers of Coface. Coface is a subsidiary of Natixis whose share capital (Tier 1) was 12.9 billion euros end June 2008.

About Veda Advantage – www.vedaadvantage.com
Veda Advantage has been at the forefront of the information business for many decades. Issues such as privacy, data security and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. Veda Advantage holds the country’s largest database of credit files for more than 14 million credit-active Australians. The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage – protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile. You can apply for a copy of your credit file at www.mycreditfile.com.au.

Australia's debt still running deep

14/10/2008 2:42:01 PM

Australia's debt still running deep.

Veda Advantage survey finds 79% of Australians worried about their ability to repay debt over the next 12 months.

A national survey conducted on behalf of Veda Advantage has found that less than one in ten Australians say they intend to apply for new credit over the next 12 months (3% very likely, 5% quite likely). The survey also found that 79% of Australians with debt are worried about their ability to repay debt in the next twelve months – up from 75% in March 2008.

Veda Advantage CEO, Rory Matthews said the level of concern Australians have about repaying money owed is alarming, and encouraged businesses of all sizes to pay attention to their customer credit checking and payment systems to lower their risk of exposure to bad debt. “Almost four in five Australians with debt are worried about meeting financial commitments and paying off their debts in the next 12 months. This is concerning for business – particularly those without adequate procedures in place. Australians who are experiencing financial difficulty should to do everything within their means to avoid damaging their credit reputation by defaulting on payments. Defaults on your credit file last for five years, and are one of the measures banks take into consideration when deciding whether to loan money in the future,” he said.

The survey of more than 1000 Australians was conducted by Galaxy Research after the Reserve Bank interest rate decrease in September, 2008. The research found that almost half of the people who intend to apply for more credit in the next 12 months plan on borrowing $100,000 or more. The most common reasons for borrowing money was for buying a car or vehicle, holidays, one off purchases, children’s education, and debt consolidation.

This latest study is the third in a series of surveys by Veda Advantage, conducted at six month intervals, which looks at Australia’s level of debt and response to credit issues.

The survey also found that one in five Australians with debt are finding it difficult to make repayments, or are unsure how they will make their next repayment. This has increased from 17% to 20% since March 2008.

The percentage of Australians who owe more than they did 12 months ago, citing higher interest rates as the main reason for owing more debt has almost doubled to 39%, up 19% from last September. The cost of living (32%) and property commitments (32%) were other main contributors for additional money owed.*

“The Galaxy research highlights that some Australians have tightened their belts and are minimising their financial debts, with our year on year results showing 44% of Australians owe less than they did 12 months ago,” said Mr Matthews. “However, despite recent cuts in interest rates, we have seen an increasing proportion of people citing interest rates as a key reason their debt levels have increased in the last six months, the picture remains concerning and it is clear the rising cost of living is still having a significant impact on Australians, in particularly lower income households.”

The Galaxy survey also found that some of the main reasons Australians felt concerned around their ability to repay debt were because of rising food costs (up 5% since March this year to 55%) and rising transport and petrol costs (up 3% to 58%) across the same period. Other causes for concern were rising interest rates (43%, down 4% from 47%), rising health costs (46%, up 2% from 44%) and one off expenses (47%, up from 44%).

-ends-

* Please note, the figures in this paragraph do not add up to 100%, as Australians surveyed could nominate multiple purposes for loans.

For more information please contact:
Sally Robertson: 0400 927 003/ 02 9270 0289
Yesica Ares: 0413 791 988/ 02 9270 0240

About Veda Advantage – www.vedaadvantage.com
Veda Advantage has been at the forefront of the information business for many decades. Issues such as privacy, data security and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. Veda Advantage holds the country’s largest database of credit files for more than 14 million credit-active Australians. The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage – protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile. You can apply for a copy of your credit file at www.mycreditfile.com.au.

About the Galaxy Research Study:
The Galaxy Research study was commissioned by Veda Advantage. It was a national telephone survey with a sample of 1046 respondents aged 18 years or older distributed throughout Australia, and weighted to the national population to ensure that age, gender and regional quotas were supplied to the sample to reflect the latest ABS population estimates. The study was conducted on the Galaxy Omnibus on the weekend 12 to 14 September, 2008.

DISCLAIMER
Purpose of Veda Advantage media releases:
Veda Advantage media releases are intended as a contemporary contribution to data and commentary in relation to consumer credit activity in the Australian economy. The information in this release is not intended to provide guidance or commentary as to Veda Advantage’s financial position nor does it constitute legal, accounting other professional financial advice. The information may change and Veda Advantage does not guarantee their currency or accuracy.

To the extent permitted by law, Veda Advantage specifically excludes all liability or responsibility for any loss or damage arising out of reliance on information in this release and the data in this report, including any consequential or indirect loss, loss of profit, loss of revenue or loss of business opportunity.

Veda and AICM support the Credit Industry

3/10/2008 6:09:11 AM

Veda Advantage is the premium sponsor of the Australian Institute of Credit Management (AICM) 2008 National Conference, 15 -17 October in Melbourne.

In today’s economic climate, credit management has never been more crucial to a company’s success. Veda Advantage is committed to delivering greater knowledge and value by improving credit management practices throughout Australia. We provide innovative solutions to help credit professionals extract greater value from data in order to make smarter business decisions. The insights that we provide allows them to effectively manage their customers and maintain the liquidity of their own business whilst improving risk management processes.

The 2008 National Conference program maintains AICM’s high standard of professional development for the credit industry. Veda Advantage will have industry professionals presenting at the conference, covering the impact of current economic conditions on credit management practices, comprehensive reporting as well as insights into commercial scoring.

The AICM National Conference provides an excellent opportunity to network with peers and colleagues of the credit management industry to ensure that the credit professionals remain at the forefront of their profession.

For more information about the conference or to register, please visit AICM website

Take Ownership of Your Identity

1/09/2008 9:55:48 AM

Media Release TAKE OWNERSHIP OF YOUR IDENTITY Veda Advantage warns consumers to protect themselves during national privacy week, 24th to 30th August. ?

26 August, 2008: Veda Advantage has joined the Government’s commitment to fighting Identity Crimes, during Privacy Awareness Week (24 – 30th August 2008), by continuing to educate consumers about the importance of protecting their identity.

Veda Advantage calls on consumers to follow the ten step plan to being privacy aware (2nd page). This involves keeping track of who has access to your details, keeping all personal details such as your PIN and credit cards safe, not divulging too much personal information on social networking sites, and updating your details when you move address. Checking your credit file or setting up alert service can also help to safe-guard your financial identity, and monitor any changes on your credit file.

One of the most serious consequences of careless personal security habits is identity fraud or identity theft. Veda Advantage’s recent research into Australian’s attitudes towards their identity revealed that 70% of Australians have not taken even simple measures, such as shredding documents, to protect their identity – therefore becoming a security risk. The national telephone study conducted for Veda Advantage earlier this year, by Galaxy Research also revealed that 3.8 million Australians, or 23% of the population above the age of 16, have been affected by identity theft:

1.1 million Australians (7%) have personally experienced identity theft
1.2 million Australians have someone in their family who has experienced identity theft
3 million Australians have friends or acquaintances who have experienced identity theft

The Veda Advantage survey findings also highlighted that the ‘digital generation’, those aged between 16 – 24, were the least likely to have done something to prevent identity theft, with nine-out-of-ten people surveyed in this age group admitting they had not taken any measures at all to protect themselves.

Rory Matthews, Veda Advantage CEO, urges Australians to pay attention to the possibilities of identity crimes, which is one of the fastest-growing crimes in the world. “The research suggests many people have experienced identity theft, or are at risk of experiencing it – leaving themselves open to people applying for loans and credit cards in their name.”

“What is most alarming is the lack of concern, with 70% of the population not doing anything to reduce their vulnerability to an identity crime. Clearly, more Australians need to pay attention to simple measures such as shredding documents, and cutting up credit cards which can greatly reduce the risks of fraud,” he said.

Research from the Office of the Privacy Commissioner’s report Community Attitudes to Privacy, identified a key method for an identity being stolen occurred through the interception of both electronic and physical mail. A means of protection against this method is to set up a credit alert service, My Veda Alert, which notifies Australians when an application for credit has been made in their name, thus pre-empting any fraudulent financial transactions in their name.

“We recommend adult Australians should regularly check their credit file to find out if there are any applications for credit that may have been made without their knowledge. Australians can also sign up for a credit alert system for as little as $40 a year that notifies them via email whenever their file is obtained, such as when someone applies for credit in their name,” Mr Matthews said.

“Veda Advantage also works closely with the government and the business community to help minimise the impact of fraud on Australian society and the economy. However, taking ownership of your identity is also up to the consumer. We encourage individuals to take their own vigilant stance against the theft and subsequent use of their details by regularly monitoring their credit records,” Mr Matthews said.

Veda Advantage suggests the following 10 step plan to being privacy aware:

Shred any paperwork such as bank and credit card statements, phone bills and gas/electricity bills that contain your personal details or account details before throwing away.

Don’t display your complete birth date, phone number, email or home address in open online environments such as social networking sites, and change passwords regularly. Keep all personal ID items, such as student cards, passport and driver’s licence in a secure place.

Elect the “private” option on social networking sites. Most social networking websites allow you to hide certain pieces of information to limit what others can see online – or to only make information available to close friends or family. Remember, once you put your personal details online it can be hard to remove that information, so make sure you hide what you do not want the world to see.

Use secure transactions when banking online, and don’t open any attachments in emails that imply they are sending you to a bank’s site – type the bank’s URL directly into the computer to help ensure safe transactions.

Practice caution when using a public computer, especially in an internet café, make sure you are using a secure server when making financial transactions, do not save your email address, and remember to log out and close all windows when leaving.

Cut old cards across the signature and magnetic strip, and sign new cards as soon as they are received.

Notify people when you move house make sure you update your address details with all companies that may send you mail, from banks to health insurance and phone companies.

Check your credit file regularly if you are over the age of 16 and credit-active to make sure all information is true and correct. If something is inaccurate, someone at Veda Advantage can help. You can apply for a copy of your credit file at or by calling 1300 762 207.

Set up an alert service such as My Veda Alert that can notify you whenever someone applies for credit in your name where the credit provider obtains a copy of your credit file, this way you can keep on top of any changes to your credit file identity.

Contact your financial institution immediately if you find that there are transactions or suspicious activity on your credit statements. If your wallet is stolen remember to cancel club membership cards, your drivers’ and other licenses, as well as your bank and credit cards. File a police report straight away.

Mr Matthews sent a warning to Australians who spend a lot of time online, especially on social networking sites or on shopping sites. “Many of us are relatively protective of our real-world identification and would think twice about handing over a driver’s license or a password to a stranger. Yet millions of young people in particular disclose similar private information on social networking sites as well as other online websites without considering where that information might end up. The unfortunate reality is that these details, including birthdates and contact details, when put in the wrong hands, may be used for malicious purposes such as identity theft and credit fraud.”

For more information please contact

Sally Robertson: 0400 927 003 or 02 9270 0289
About the Galaxy Research Study: The Galaxy Research study was commissioned by Veda Advantage. It was a national telephone survey with a sample of 1100 respondents aged 16 years or older distributed throughout Australia, and weighted to the national population to ensure that age, gender and regional quotas were supplied to the sample to reflect the latest ABS population estimates. The study was conducted on the Galaxy Omnibus on the weekend 29 February to 2 March, 2008.

About Veda Advantage www.vedaadvantage.com.

Veda Advantage has been at the forefront of the information business for many decades. Issues such as privacy, data security, fraud and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. Veda Advantage holds the country’s largest database of credit files for more than 14.5 million credit-active Australians. The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage – protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile.

You can apply for a copy of your credit file at www.mycreditfile.com.au or by calling 1300 762 207. A $27 express delivery service fee is payable if the file is needed urgently, or otherwise the file will be available within 10 working days.
About the Galaxy Research Study: The Galaxy Research study was commissioned by Veda Advantage. It was a national telephone survey with a sample of 1100 respondents aged 16 years or older distributed throughout Australia, and weighted to the national population to ensure that age, gender and regional quotas were supplied to the sample to reflect the latest ABS population estimates. The study was conducted on the Galaxy Omnibus on the weekend 29 February to 2 March, 2008.
DISCLAIMER
Purpose of Veda Advantage media releases:
Veda Advantage media releases are intended as a contemporary contribution to data and commentary in relation to consumer credit activity in the Australian economy. The information in this release is not intended to provide guidance or commentary as to Veda Advantage’s financial position nor does it constitute legal, accounting other professional financial advice. The information may change and Veda Advantage does not guarantee their currency or accuracy.
To the extent permitted by law, Veda Advantage specifically excludes all liability or responsibility for any loss or damage arising out of reliance on information in this release and the data in this report, including any consequential or indirect loss, loss of profit, loss of revenue or loss of business opportunity.
Veda retains all ownership, copyright and other intellectual property rights in this release and the data in this release and report and they may not be reproduced or distributed in any way except with prior written approval from Veda Advantage.

Veda Advantage recognises need for further credit reform

29/08/2008 9:21:10 AM

11th August 2008: Veda Advantage, Australia’s largest credit bureau, today welcomed the Australian Law Reform Commission’s Privacy reforms, For Your Information: Australian Privacy Law and Practice, and the Australian Federal Government’s early commitment to act urgently to implement credit reporting law reform by December, 2009.

Veda Advantage’s Head of External Relations, Chris Gration, “While Veda Advantage commends the ALRC for its recognition that privacy laws prevent consumers building a positive credit history, the Government needs to pick up the ALRC’s suggestion that more data can be permitted when Government and industry implement a responsible lending framework.

“The ALRC recognises that credit reporting laws do not enable financial institutions to assess whether a person is struggling to meet their debt repayments.

“It is now up to the government to act to ensure banks have the information required to assess whether consumers are struggling,” Mr Gration said.

“Currently, credit reports carry data that gives financial providers only 11% of the picture required to identify and predict credit risk. The ALRC proposed changes will only add 22% of the total. The ALRC’s additional data recommendation - account status and payment history fields - would contribute 64%, significantly improving the industry’s ability to predict and prevent credit defaults.

“Industry is calling on Government to introduce comprehensive credit reports, including 24 month account payment history, by December 2009.

“This review has taken 2 ½ years and in that time interest rates have risen seven times. Bankruptcy levels are at historic highs[1] at the moment, and Australians are clearly worried about access to credit and over-commitment. The ALRC proposals fail to provide an early warning signs of a person becoming financially stressed.

“At a time of tightening credit and rising defaults, the Government must make credit reporting law reform a priority,” Mr Gration said.

The ALRC put on hold the industry’s united call to include a person's account status and payment history over the previous 24 months – how often they have been overdue or missed payments, pending a responsible lending framework.

Senator the Hon John Faulkner said the government would move on this with industry in the context of the COAG (Council of Australian Government) reforms on credit.

Without this additional information, only a minor expansion would allow recording increases in credit limits and noting when a credit account is closed.

“The minimal credit information is regarded by industry as not enough to plug significant knowledge gaps in the consumer credit system. These minor changes will do little to identify people in significant financial stress but who are yet to default,” he said.

Australia is one of only three OECD countries not to have comprehensive credit reports.

“The report handed down today took 25 years to update, yet is still doesn’t align Australia with world’s best practice in credit reporting, meaning Australians – particularly those families who are struggling – will suffer,” Mr Gration said.

For more information please contact:
Sally Robertson at Launch Group : 9270 0289/ 0400 927 003

About Veda Advantage www.vedaadvantage.com

Veda Advantage has been at the forefront of the information business for many decades. Issues such as privacy, data security, fraud and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. Veda Advantage holds the country’s a database of credit files for more than 14.5 million credit-active Australians. The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage – protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile.

You can apply for a copy of your commercial credit file at www,vedaadvantage.com.au.

Aussie Debt Burden Continues

6/05/2008 9:08:16 AM

Aussie Debt Burden Continues

Veda Advantage data shows high levels of debt repayments in higher incomes households as consumer appetite for credit drops

6 May, 2008 – Veda Advantage data, released today, shows Australia’s overall demand for credit is slowing in the first quarter of calendar year 2008, with credit card and personal loan enquiries down 0.2% when compared to the same period last year.

Personal loan enquiries were down by 2.3% compared year-on-year with 2007, while credit card enquiries rose by 1.5%.

Further Veda Advantage analysis shows families are spending a significant amount of their income on debt repayments; with 1.3 million Australians spending more than half their gross household incomes on debt, and 1.8 million Australians spending more than 40% of their income on repayments. Thirty-one per cent of Australians live in households that spend 30% of their income on debt repayments.

Analysis of data also reveals exposure to debt increases with income levels.

While 18% per cent of Australians with a gross household gross income of less than $40 000 spent 35% or more of their income on debt, this proportion rises to 21% of Australians with household incomes between $40 000 and $70 000. *

But 27% per cent of Australian households earning a household income of more than $90 000 are currently spending 35% or more of their income repaying debt.

The analysis demonstrates that higher income families are also at risk of over-commitment as the burden of rising interest rates bite.

Mr Rory Matthews, Veda Advantage CEO, said Australian households earning higher incomes are also feeling stretched. “It is not just about lower income earners who are feeling the burden of rising interest rates. In fact, higher income households tend to carry a heavier debt servicing burden.”

“This means those individuals or families are vulnerable to changes in their personal or external financial circumstances. Increasing debt can then lead to over-commitment. Households may get by making the minimum monthly re-payments, but their overall debt continues increasing."

In light of these findings, Veda Advantage has renewed its call for comprehensive credit reporting law reform.

“More information allows lenders to create an accurate assessment of an applicant’s credit exposure and so prevents consumers from over-extending themselves financially,” Mr Matthews said.

The proposed Australian Law Reform Commission reforms fall short of the full reform needed. A comprehensive reporting model would allow banks and lenders to access the best available information about the ability of someone to repay the money they owe.

"It is in the interests of both borrowers and lenders that access is allowed to the right information about credit and risk.” Mr Matthews said.

The Veda Advantage analysis** scrutinised raw data from two identical national telephone surveys, conducted six months apart (September 2007/ March 2008) by Galaxy Research. The surveys asked questions around Australian consumers’ confidence into credit and debt.

The analysis of consumers also found that Australian’s appetite for credit is waning slightly, with a 6% decrease in the number of people with two or three credit facilities in the six months to March this year (September 36%, March 30%).

The analysis found that Australians who live in households with debt spend, on average, 23% of their income on repayments. This burden is spread unevenly; households with children spend considerably more on repayments (30%) than those without (18%).

Credit Card and Personal Loan Enquiries

ACT NSW NT QLD SA TAS VIC WA Total

YOY 1.2% -1.5% -4.9% 2.0% 3.4% -1.7% -0.6% -2.2% -0.2%

Income Range 30% or more of income spend on debt 35% or more of income spend on debt 40% or more of income spend on debt 50% or more of income spend on debt

<$40K 23% 18% 17% 12%

$40-70K 31% 21% 19% 15%

$70-90K 36% 21% 18% 14%

>$90K 35% 27% 24% 16%

* According to the ABS, the average household earns $67,860 and the median $54,080. (Household Income and Income distribution, Australia, 2005-06)

** The study looked at two separate, identical questions completed by Galaxy Research in September 2007, and March 2008. The sample size was national representation of the Australian population, representing 18.4M people (Census 2006) over the age of 18 years. The sample size is about 1050 for each survey.

*** ABS estimates of the number of households affected by income. There are 7.9 million household in Australia.

<$40K household income represents 3,075 households (38.8% of total)

$40-70K household income represents 1,965 households (24.8% of total)

$70-90K household income represents 1,027 households (13.0% of total)

$90K household income represents 1,859 households (23.5% of total)

- ENDS -

For more information:

Sally Robertson, Launch Group: 02 9270 0289, 0400 927 003.

DISCLAIMER

Purpose of Veda Advantage media releases:

Veda Advantage media releases are intended as a contemporary contribution to data and commentary in relation to consumer credit activity in the Australian economy. The information in this release is not intended to provide guidance or commentary as to Veda Advantage’s financial position nor does it constitute legal, accounting other professional financial advice. The information may change and Veda Advantage does not guarantee their currency or accuracy.

To the extent permitted by law, Veda Advantage specifically excludes all liability or responsibility for any loss or damage arising out of reliance on information in this release and the data in this report, including any consequential or indirect loss, loss of profit, loss of revenue or loss of business opportunity.

Identity Crimes Research Shock

14/03/2008 9:52:54 AM

Identity Crimes Research Shock.

Veda Advantage research shows 3.8 million Australians affected by identity theft.

New Veda Advantage research into identity crimes has revealed that 3.8 million Australians, or 23% of the population, have been affected by identity theft and more than half (57%) of those affected by fraud have done nothing to protect themselves from a future attack.

Veda Advantage is concerned about the affects of identity theft on Australian families, and urges people to be more alert, and to mind their identity.

The national telephone survey conducted by Galaxy Research for Veda Advantage, the largest custodian of credit-related information in Australia, found that despite the growing concern of identity crimes, 70% of Australians have not taken even simple measures, such as shredding documents, to protect themselves from identity crimes.

Young people aged between 16 and 24 were the least likely to protect themselves from identity theft, with nine-out-of-ten not taking any measures to protect themselves.

Erica Hughes, General Manager of Information, Services and Solutions, urges Australians to pay attention to the threat of identity theft. “The research suggests many people are currently having their identities stolen, leaving themselves open to people applying for loans and credit cards in their name.”

“What is even more alarming is the lack of concern, with 70% of the population not doing anything to reduce the incidence of identity crimes. Simple measures such as shredding documents, and cutting up credit cards can reduce the risk and threat of identity fraud. We recommend adult Australians to regularly check their credit file to find out if there are any applications for credit that may have been made without their knowledge, or to sign up for a credit alert system that notifies them via email whenever their file is obtained, such as when someone applies for credit in their name,” she said.

Every time an application for new credit is made using your identity and the credit provider obtains a copy of your credit file, your file is updated to reflect that application. By staying alert to any changes to your file you may be able alerted to whether your identity has been stolen and is being used to fraudulently obtain credit.

Erica Hughes suggests the following 10 step plan to help you to safeguard your identity:

1. Shred any paperwork such as bank and credit card statements, phone bills and gas/electricity bills that contain your personal details or account details before throwing away.
2. Store cards and personal ID items, such as student cards, passport and driver’s licence in a secure place.
3. Know what is on your credit file and regularly monitor your credit file – see below for information on credit files. Every Australian with a credit file can request the My Credit Alert service which provides real-time notification of any changes to the file.
4. Contact your financial institution immediately if your cards or account details are lost or stolen. If your wallet is stolen remember to cancel club membership cards, your drivers’ and other licences, as well as your bank and credit cards. File a police report straight away.
5. Keep your Personal Identification Number(s) confidential and separate from your card and never disclose your Personal Identification Number(s) to anyone.
6. Make sure that all old cards are properly destroyed before they are put in the rubbish. Cut old cards across the signature and magnetic strip, and sign new cards as soon as they are received.
7. If you move house make sure you update your address details with all companies that may send you mail, from banks to health insurance and phone companies.
8. Your digital identity is also important. Make sure you don’t give out personal information, including your address, mobile phone number and complete birthday on open environments such as social networking sites as this information can also be collated by fraudsters. Also change your passwords regularly.
9. Always use secure transactions when banking online, and don’t open any attachments in emails that imply they are sending you to a bank’s site – type the bank’s URL directly into the computer to help ensure safe transactions.
10. If you think your identity has been stolen, contact the police, then your credit provider(s) if you discover that your identity is being used by another person. Keep notes of all your conversations with these bodies, including names, dates and contact numbers.

Ms Hughes said that identity fraud is becoming increasingly more problematic, affecting more and more Australians. The study showed that 23% of people had been affected by identity theft, which is why we are working closely with the government and the business community to help minimise the impact of fraud on Australian society and the economy. We encourage individuals to take their own vigilant stance against the theft and subsequent use of their details including by regularly monitoring their credit records.

“Every day, thousands of changes are made to individual credit files. These can include new enquiries made by finance companies, new address, occupation and other personal details and adverse information such as payment defaults, judgments and bankruptcies.”

“By setting up a My Credit Alert, every time any information is added to your credit file, you will receive an electronic report advising you of who has obtained a copy of your credit report or changed your personal information, and the details of those changes,” said Ms Hughes.

To find out more about Veda Advantage visit www.vedaadvantage.com.

- ENDS-

For more information please contact
Sally Robertson: 0400 927 003 or 02 9270 0233

About Veda Advantage www.vedaadvantage.com
Veda Advantage has been at the forefront of the information business for many decades. Issues such as privacy, data security, fraud and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. Veda Advantage holds the country’s largest database of credit files for more than 14.5 million credit-active Australians. The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage – protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile.

You can apply for a copy of your credit file at www.mycreditfile.com.au or by calling 1300 762 207. A $27 express delivery service fee is payable if the file is needed urgently, or otherwise the file will be available within 10 working days.

About the Galaxy Research Study: The Galaxy Research study was commissioned by Veda Advantage. It was a national telephone survey with a sample of 1100 respondents aged 16 years or older distributed throughout Australia, and weighted to the national population to ensure that age, gender and regional quotas were supplied to the sample to reflect the latest ABS population estimates. The study was conducted on the Galaxy Omnibus on the weekend 29 February to 2 March, 2008.

DISCLAIMER
Purpose of Veda Advantage media releases:
Veda Advantage media releases are intended as a contemporary contribution to data and commentary in relation to consumer credit activity in the Australian economy. The information in this release is not intended to provide guidance or commentary as to Veda Advantage’s financial position nor does it constitute legal, accounting other professional financial advice. The information may change and Veda Advantage does not guarantee their currency or accuracy.

To the extent permitted by law, Veda Advantage specifically excludes all liability or responsibility for any loss or damage arising out of reliance on information in this release and the data in this report, including any consequential or indirect loss, loss of profit, loss of revenue or loss of business opportunity.

Veda retains all ownership, copyright and other intellectual property rights in this release and the data in this release and report and they may not be reproduced or distributed in any way except with prior written approval from Veda Advantage.

Australia's Debt Divide Deepens

13/03/2008 3:40:16 PM

Veda Advantage study finds 75% of Australians worried about ability to repay bills.

Call for broader credit reform to address Australia's growing debt divide.

New Veda Advantage research, released today, suggests debt repayments continue to be a major cause of worry to Australians, despite a small decrease since the last survey with 75% of Australians in debt worrying about their ability to make financial repayments over the next 12 months.

Inflation appears to be a significant driver for consumer debt worry with the national telephone study conducted for Veda Advantage by Galaxy Research on the weekend of March 2 before last Wednesday's (March 5) interest rate rise - finding that up to 55% or more of people in debt cited rising prices as a key factor in their concern about repaying money owed. Rising interest rates were cited by half of consumers as a key part of their concern about ability to make financial repayments over the next 12 months.

Rising transport and petrol costs (55%), rising food costs (50%), rising health costs (44%) and rising mortgage or rent costs (37%) were other key factors of concern.

Australians appear to be easing up on their consumption of new debt, with only 15% owing more (compared to 19% in the last Galaxy survey in September). However, the percentage citing higher interest rates (25%) as the main reason for owing more debt has grown since the last survey (20% in September 2007). The purchase of a new vehicle (30%), property purchases (27%), and bigger than expected bills (24%) were also reasons for owing more money than the previous year.

Veda Advantage General Manager of Information Services and Solutions Erica Hughes said the survey highlights the growing debt divide in Australia, with some Australians struggling to pay their bills on time. The study found that although 62% of Australians in debt said they were able to make their debt repayments, 16% said their debts were eating into most of their budget, with another 16% finding it difficult to make repayments. A further 1%, or 91 000 Australians were unsure of how they will make their next repayments over the next 12 months.

The study also found that 1.3 million Australian live in households that spend more than half their income on debt repayments, and 1.8 million Australians live in households who spend more than 40% of their income on repayments, Ms Hughes said. This means those individuals or families are extremely vulnerable to any changes in their personal or external financial circumstances.

This research builds on a previous Veda Advantage study conducted in September 2007 which found that 81% of Australians are worried about their ability to make repayments over the next 12 months. While conditions may be improving very slowly, three-quarters of the Australian population are worried about how they will make repayments on time, Ms Hughes said.

We again highlight the need for comprehensive data submission to improve systems that support lending decisions and reiterate our calls for Government to fully endorse such data pooling initiatives. The full comprehensive submission of data supplied by lenders would provide detailed insight into the applicants credit exposure thereby directly prevent consumers from over extending themselves financially. We are calling on the Federal Government to make swift, decisive changes to credit laws - especially Credit Reporting under the Privacy Act - to enable such comprehensive data sharing to help curb the over extension of credit. Calls for responsible lending are only valid if the decisions are informed this requires a full view of the individuals credit position.

Veda Advantage believes the Australian Law Reform Commission reforms fall short of the full reforms needed. We need change for the benefit of consumers, not change for change sake.

Alarmingly, the study also revealed that only 20% of the people who found it difficult to cope with their financial burden have sought professional help such as seeking the assistance of a financial planner or accountant. This is of great concern to us, as we ask people to take control of their credit file, do everything they can to pay their bills on time, and seek advice from a financial advisor to maintain a healthy credit history.

Veda Advantage provided the following general observations as a starting point for Australians who are experiencing difficulty paying their debts on time:

• Ask - don’t be afraid to seek advice. Financial institutions have programs to help you in times of trouble. It is in a bank’s interest to help rescue personal finance or business, and ensure you repay the money owed – before it becomes too late. Financial or insolvency specialists are also a good option to advise you on minimizing both financial and personal loss.

• Re-evaluate – personal debts or running a business at a loss can often just exacerbate the situation. When you first have trouble with repayments, spend time working out a new business plan or a restructuring option. Taking time to reflect may show you how it’s possible to cut costs, reallocate resources and improve efficiency.

• Talk – let people know what is going on. This way mutually acceptable agreements may be made with the people you owe money to. If you find you can’t make a repayment contact the organization and work out an extension plan or other options available.

• Budget – carefully consider your credit commitments. If you think you may have trouble paying a phone bill, for example, investigate pre-paid options, and create a budget to make sure you can set money aside to repay your loan. Knowing what is going into and out of your bank account is important. Simple measures such as setting money aside to pay bills and keeping emergency money ready in case you fall on tough times are good ways to prevent bankruptcy.

• Consolidate – debt consolidation involves taking out one loan to pay off other debts. This can be useful as you are often able to secure a lower interest rate and schedule repayments that are realistic. It can also be useful as it is easy to remember one payment date and amount rather than trying to juggle many different credit cards, loans and other debts.

• Check - your credit file at www.mycreditfile.com.au . This will give you up-to-date information on your credit history held by Veda Advantage, and also inform you who has been accessing your credit information.

It is in the interests of both borrowers and lenders that access is allowed to the right information about credit and risk. The Government needs to act to make sure that borrowers and lenders get the best information when considering new credit.

A comprehensive reporting model would allow banks and approved lenders to access the best available information about whether or not a person can repay the money they owe. It would ensure that those in a solid financial situation and those with good repayment history can be more appropriately matched with the appropriate credit facilities, Ms Hughes said.

For more information please contact:
Sally Robertson: 0400 927 003 / 02 9270 0233
* This is the total number of reported consumer defaults to Veda Advantage, including credit cards, personal loans and mortgages. Veda Advantage covers 94% of the credit active population of Australia.
About Veda Advantage - www.vedaadvantage.com

Veda Advantage (formerly known as Baycorp) has been at the forefront of the information business for many decades. Issues such as privacy, data security and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. Veda Advantage holds the country's largest database of credit files for more than 14 million credit-active Australians. The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile. You can apply for a copy of your credit file at www.mycreditfile.com.au.

About the Galaxy Research Study: The Galaxy Research study was commissioned by Veda Advantage. It was a national telephone survey with a sample of 1050 respondents aged 18 years or older distributed throughout Australia, and weighted to the national population to ensure that age, gender and regional quotas were supplied to the sample to reflect the latest ABS population estimates. The study was conducted on the Galaxy Omnibus on the weekend 29 February to 2 March, 2008.

DISCLAIMER
Purpose of Veda Advantage media releases:

Veda Advantage media releases are intended as a contemporary contribution to data and commentary in relation to consumer credit activity in the Australian economy. The information in this release is not intended to provide guidance or commentary as to Veda Advantage's financial position nor does it constitute legal, accounting other professional financial advice. The information may change and Veda Advantage does not guarantee their currency or accuracy.

To the extent permitted by law, Veda Advantage specifically excludes all liability or responsibility for any loss or damage arising out of reliance on information in this release and the data in this report, including any consequential or indirect loss, loss of profit, loss of revenue or loss of business opportunity.

Veda Advantage is not a financial advisor, but has collated a few general observations which can be used for people as a starting point in seeking financial advice.

Mortgage Figures point to stark reality of housing market decline

13/03/2008 2:52:57 PM

4 March 2008 – Figures released by Veda Advantage, New Zealand’s largest credit reporting agency, show the extent to which the brakes have been applied to the housing market in New Zealand.

Veda Advantage has released mortgage enquiry statistics from its database that show a 27% decrease on housing loan applications from 2006 to 2007. Data from January this year points to a 14% decrease on 2007, hard evidence that the economic slowdown is biting hard on the property market. Figures also showed the largest decline in mortgage applications was from the 30-40 age group with a drop of 26%

Veda Advantage New Zealand Country Director John Roberts says, “27% is a sharp year-on-year drop, and given the cyclical trends we’ve seen from 2000 through to 2008, it’s expected we’ll see a similar drop off in 2008, one which is likely to be exacerbated by the predicted slowdown of the economy. While house prices are dropping, consumer confidence isn’t there to match it. As such, we’ve seen a 14% decrease in the number of mortgage applications in January this year compared with 2007.

About Veda Advantage - www.vedaadvantage.com

Veda Advantage facilitates credit reference checks for New Zealand’s major banks and lenders and underpins the ability of consumers to exercise choice in relation to consumer credit products. Veda Advantage holds files on around 97.5% of the individual credit-active population and 100% of the commercial credit-active population in New Zealand.

You can apply for a copy of your credit file at www.mycreditfile.co.nz or by calling 0800 692 733. A $23 express delivery service fee is payable if the file is needed urgently, or otherwise the file will be available within 10 working days.

For media enquiries, please contact

Thom James, Bullet PR

T: 09 375 1515

M: 021 503 181

E: thomj@bulletpr.co.nz

	ACT	NSW	NT	QLD	SA	TAS	VIC	WA	Total
YOY	1.2%	-1.5%	-4.9%	2.0%	3.4%	-1.7%	-0.6%	-2.2%	-0.2%

Income Range	30% or more of income spend on debt	35% or more of income spend on debt	40% or more of income spend on debt	50% or more of income spend on debt
<$40K	23%	18%	17%	12%
$40-70K	31%	21%	19%	15%
$70-90K	36%	21%	18%	14%
>$90K	35%	27%	24%	16%