Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZCU Baywide now firmly New Zealand’s largest credit union

NZCU Baywide now firmly New Zealand’s largest credit union

NZCU Baywide is now firmly established as New Zealand’s largest Credit Union.

NZCU Baywide officially merged with Manchester Unity Credit Union (MUCU) today, boosting member numbers to 40,000 and assets to approximately $220 million, through a 16 strong branch network located throughout the central and lower North Island.

Last year NZCU Baywide merged with Wine Country Credit Union, adding 5000 new members.

Last year over $500,000 was rebated back to NZCU Baywide’s members.

NZCU Baywide chairman Iain Taylor said the credit union is now a “serious banking alternative to mainstream banks” and is New Zealand-owned by its members.

“We are not profit focused like banks, we’re here for our members and their best interests and that’s why we have experienced considerable growth,” Mr Taylor said.

Over the next month MUCU members will be invited to transfer their accounts to NZCU’s wider range of savings and loan products.

“The merger was strongly supported by MUCU members and we now want to make it easy for them to bank with us.

“We have a wider suite of banking products, and generally more competitive interest rate options along with internet banking and much more,” he said.

NZCU Baywide chief executive Gavin Earle said the merger provides many benefits to all members as one stronger entity.

“It further positions us as a compelling banking alternative,” Mr Earle said.

MUCU’s South Island members will be able to use NZCU South branches and all members will now have greater access to branches through NZCU Baywide’s partner credit unions, which are in excess of 50 branches nationwide.

“Until now MUCU members may have needed accounts with banks but now they can do all their banking with NZCU Baywide,” Mr Earle said.

Mr Earle says NZCU Baywide is continually looking at ways for members to share further in its success.

Members already receive fee rebates based on the total value of the relationship across its range of products and services.

“Credit Unions are not publicly-listed companies and so, unlike banks, don’t have the pressure to maximise profits to pay external shareholders”.

“Instead, credit unions put their profits back into better rates, fairer fees, responsible lending and outstanding customer service,” he says.

For further information visit www.nzcubaywide.co.nz

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news