Sign Up For New Bank Information At Post Shops

9 September 2001

New Zealand Post is inviting customers to sign up for information on its proposed new bank at Post Shops and Books & More stores around the country.

From Monday, posters will go on display in shops and counter staff will be asking customers if they are interested in finding out more about the bank. Customers can also register their interest through New Zealand Post’s website: www.nzpost.com

Interim CEO for the new bank, Sam Knowles, said the posters would be the first visible sign for customers that the new bank was on its way.

“With around six months to go until launch, we want to start giving potential customers information so they can decide if they’d like to bank with us when we open our doors early next year.

“Once they’ve signed up, we will update them on our progress as we lay the foundations for the new bank.”

Mr Knowles said several thousand people had already written to New Zealand Post in support of the bank since February.

“They have told us that they want a bank that treats them fairly, has lower fees and is committed to local communities.

“New Zealand Post intends to provide banking services throughout most of its 314 Post Shops and Books & More stores, but final decisions on exactly which shops will have the bank are yet to be made.”

Mr Knowles said the posters to be displayed in Post Shops had a work-in-progress theme, but the colours used were not those of the new bank.

The new bank needs 100,000 customers -- equivalent to two new customers per Post Shop per week over three years -- to reach its targeted 11.7 per cent after tax rate of return.

New Zealand Post is aiming for 165,000 customers by the end of the bank’s third year of operations -- equivalent to just over three new customers per Post Shop per week.

ENDS

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