Latest News

Diana Clement: Don’t be taken for an expensive ride

Owning a car signals adulthood and taking out your first car loan is a rite of passage for many young people – although a cynic might tack on the words “lifelong debt”.
Up to 70 per cent of all vehicles sold in New Zealand are bought with some kind of financing attached, according to the […]

June 20th, 2017|

A $1 bln co-operative financial sector, flying under the radar and growing strongly, offers some high returns for savers

Recent offers from a number of credit unions has shifted the spotlight to a section of the savings market that most savers overlook.

Rates in the mid to high fours (even above) are on offer from four of them.

These institutions are not large by bank standards, but they do occupy a unique place in the financial […]

May 5th, 2017|

Even playing field to be created for credit unions

Credit unions say they will finally become more competitive with banks and other financial institutions under long-awaited reforms set to come before Parliament.

The proposed changes will cut their costs, allow them to lend directly to businesses, and assume the rights of a corporation.

The changes are included in a bill in the name of National […]

May 1st, 2017|

Kaikoura MP Stuart Smith’s member’s bill to modernise regulations around credit unions

Kaikoura MP Stuart Smith has introduced a new bill to bring regulations governing credit unions into the 21st century, amending old legislation he says is unfit for purpose.

The Friendly Societies and Credit Unions (Regulatory Improvements) Amendment Bill was introduced in the House on April 13, to amend existing legislation introduced in 1982.

“This will make a […]

May 1st, 2017|

Co-op Money NZ is part of CIO100 2017

Co-op Money NZ is a cooperative owned by 11 credit unions. It provides a range of banking, payments and insurance products and services to its member/owners, the credit unions, as well as mutual building societies, banks and other non-bank deposit takers both in New Zealand and the Pacific Islands.

“Strong engagement with our credit union […]

April 18th, 2017|

Payments NZ welcomes Co-op Money NZ to the Bulk Electronic Clearing System

Payments NZ is pleased to announce that Co-op Money NZ’s application to become a direct settlement participant in its Bulk Electronic Clearing System (BECS) has been approved.

Co-op Money NZ will start participating in BECS in 2017 once it has completed industry testing.

“We are delighted to be the first non-registered bank to join BECS. We […]

September 21st, 2016|

Where is peer-to-peer lending at?

*This article comes from a presentation made at the Co-op Money NZ Forum 2016 on Saturday, April 30.

By Gareth Vaughan

At first blush peer-to-peer lenders on the one hand, and credit unions, building societies and mutuals on the other hand, seem miles apart. But maybe they are closer than you might think.

KPMG made this point in this year’s Financial Institutions […]

July 28th, 2016|

Pundits money tips include some gems

Knowing the difference between wants and needs among nuggets of advice
By Diana Clement

What’s the best money tip you’ve gleaned? That is the question I put to a few of the country’s financial brains this week.

The money men and women of New Zealand answered. They talked of concepts that every Kiwi should know and follow, […]

July 28th, 2016|

Learning from New Zealand

British credit unions have learned about the New Zealand movement from the Chief Executive of Co-op Money NZ.

Henry Lynch (pictured) travelled to Manchester for a special day of shared learning and experience with credit unions from across Britain, with a focus on how credit unions can work co-operatively to develop new products to benefit their […]

July 18th, 2016|

Co-op Money NZ is part of CIO 100 2015

CO-OP MONEY NZ represents the cooperatively owned credit unions and mutual building societies in New Zealand.
It supports its members by providing both back-end and front-end support services that include banking function and insurance transactions. The members collectively are the sixth largest fi nancial transactor by volume in New Zealand.
The organisation is making significant investment […]

March 24th, 2016|