Co-op Money NZ Appoints New Chief Executive
AUCKLAND, 30 JULY 2018: Co-op Money NZ is pleased to announce the appointment of Jonathan Lee as the organisation’s new Chief Executive. Mr. Lee has been interim Chief Executive since April 2018.
Announcing Mr Lee’s appointment, Co-op Money NZ Board Chair Claire Matthews says the Board is very pleased to confirm the appointment of Jonathan as new Chief Executive.
“Jonathan has been with Co-op Money NZ for the last seven years as Chief Operating Officer. He has a collaborative leadership style, strong commercial skills and an excellent knowledge and understanding of the credit union business model, ethos and sector. It is also very pleasing to be able to find talent and promote from within for this key leadership role.”
Commenting on his appointment, Mr Lee says he is honoured by the trust the Board has placed in him to lead Co-op Money NZ during a period of critical change.
“The banking and payments sector continues to be rapidly transformed through technology and the increasing expectations of its customers. Co-op Money NZ and its Member credit unions are embracing these changes starting with a programme to implement a new core banking system for nine of its Members which will be completed by the end of the year,” says Lee.
Mr Lee has a Bachelor of Business Studies from Massey University and a Master of Business Administration from Henley Business School. Away from work, Mr Lee lives in Auckland with his wife and two young children, and is a keen tennis player.
For more information please contact:
Co-op Money NZ
Phone: 021 548 772
Co-op Money NZ is not a registered bank.
Notes to Editors and Journalists
About Co-op Money NZ
Co-op Money NZ is the industry association for credit unions and mutual building societies (coopmoneynz.org.nz) and exists to represent, promote and support its Member credit unions and building societies around the country, and to provide cost-effective business services. Co-op Money NZ provides business-to-business services and is not a registered bank. Services include core banking systems and channels (internet, telephone, mobile banking etc.), EFTPOS and Mastercard card services, ATMs, agency banking, and treasury management services. Co-op Money NZ’s has the largest number of ATMs connected to its switch in the country with nearly 30% of all ATM’s in New Zealand connected to the banking system via the Co-op Money NZ switch.
In providing such services, Co-op Money NZ and users of these services are subject to anti-money laundering and countering the financing of terrorism (AML/CFT) legislation requiring AML/CFT processes to be in place. Co-op Money NZ works with regulators and undertakes audit processes to monitor compliance with this legislation.
Credit unions and mutual building societies are co-operatively owned financial service providers, providing their members with a similar range of services to a bank. Credit unions and mutual building societies are all independently owned and operated by their members for their members, and any profits are returned to the members in a combination of ways i.e. fairer fees, interest rates and community involvement. Our Member credit unions and mutual building societies are all licenced by the Reserve Bank under the Non-Bank Deposit Takers Act 2013.
Credit unions and mutual building societies in New Zealand employ over 520 staff, represent approximately 190,000 members, with around 70 branches, assets of over $2 billion.
Co-op Money NZ is a member of Cooperative Business NZ (nz.coop). Collectively, Co-op Money NZ and its Member credit unions and mutual building societies are ranked 30th on Cooperative Business New Zealand’s top 30 cooperatives by revenue.