PSIS Hard To Beat On Value

11 June 2002

The financial services offered by PSIS remain hard to beat on value and service according to PSIS Chief Executive, Mr John Price.

"I believe that overall PSIS has one of the best value offers available in New Zealand for personal financial services." said Mr Price, when announcing another excellent year's performance for PSIS.

For the year ended 31 March 2002 after tax profit was $5 million, up slightly from $4.8 million the year before. In the year PSIS total assets exceeded $600 million for the first time. Reserves, at year end, stood at $56 million.

To emphasise the value for money PSIS services, Mr Price said "PSIS doesn't charge monthly account fees. It has a floating home loan rate up to 0.60% below the main banks. And it has very generous transaction fee exemption criteria." He added "Also, we continue to rate at or near the top in terms of customer satisfaction".

"We will continue to expand our range of financial services and make our services even easier to access and use." Mr Price said. "It's all part of our belief that banking does not have to be hard or confusing - we call it Simply Banking." he continued.

PSIS is a cooperative company, wholly owned by New Zealanders. It is entering its 75th year of operation and has a national network of 28 branches.

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