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

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news