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NZCU Baywide wins Canstar Awards third year in a row

NZCU Baywide wins Canstar Awards third year in a row

NZCU Baywide, New Zealand’s largest credit union, is celebrating its third big win in the annual Canstar Awards in as many years after being rated once again as an “outstanding value” lender for both its secured and unsecured personal and car loans.

This most recent success comes after the successful launch of a new core banking platform in March this year, that has established a modern operational platform for the Credit Union’s 30,000 customers, in branches and online.

Canstar, New Zealand and Australia’s only fully interactive research service in retail and business finance, rated NZCU Baywide highly after reviewing 53 loan products from 10 providers, compared to 30 loan products being judged two years ago.

NZCU Baywide GM Sales, Marketing and Channels, Andrew Quayle says the awards show how the credit union has continued to perform exceptionally well despite fundamental change happening over two years:

“We’ve continued to achieve a consistent level of service and excellence during a time of change and this makes it an even bigger achievement than the previous two years.

“This shows just what a great team we have in all our branches and head office - and to make it more significant we’ve done this as the competition has become more intense with more products and providers under the microscope of Canstar - and we still came out on top.

“We are a customer owned business so we are rapt we can demonstrate this level of performance and value back to the people who own us. With our new core banking system in place we have more services to add in the future and I have no doubt we will continue to rise to the levels of service we have promised.

“Our success reflects our focus and commitment to our customers - we are constantly checking in and listening to their needs. We use these insights to adapt and develop our products and services to ensure we remain relevant.”

An ongoing evolution for the credit union has been its growing national online presence to complement its network of 14 branches spread across the Central and Lower North Island.

“Our online and branch presence combination is giving the international big budget banks and other finance companies a run for their money. We are truly New Zealand owned by the people - Kiwis supporting Kiwis, a real person to person financial service and the original model of peer-to-peer lending,” he says.

Canstar has awarded two NZCU Baywide products, its secured personal car loan and unsecured personal loan. The 5-star award rating indicates the awarded products are in the top 10 percent of the category. Canstar’s methodology supports it as the most comprehensive and respected financial awards in New Zealand. It compares all types of loans both in the secured and unsecured category, across a wide range of attributes and characteristics.

NZCU Baywide’s success comes after two recent regional awards. In August it won the CopyPlus Outstanding Professional Service Award at the Hawke’s Bay Today Hastings City Celebration Awards 2018, and in November it received the Great Things Grow Here Large Business Award at the Annual PAN PAC Hawke’s Bay Business Awards presented by the Hawke’s Bay Chamber of Commerce.

NZCU Baywide was established in 1971 but the concept of the Credit Union has been in existence for over 150 years and is the original person-to-person financial service, despite all the focus recently on newcomers to the market.

The Canstar 5-star ratings for NZCU Baywide products over the last three years is an indication of the Credit Union’s consistent focus on providing value across its total product range.


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