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Media releases and news about credit unions and mutual building societies in New Zealand published by New Zealand Association of Credit Unions.
5/12/13 Parliament has passed a law described as a "complete waste of time" which introduces a licencing regime for non-bank deposit takers (NBDTs). The Non-bank Deposit Takers Act 2013, which is expected to come into force in May 2014, covers finance companies, building societies, and...
3/12/13 Many Kiwis have money languishing in accounts paying less than 1 per cent. With little more than a few minutes' work they could be picking up 4 per cent with ease on instant access savings and well over 5 per cent for 12 months. Learn more >
9/10/13 The industry body representing 23 member credit unions and building societies said a recent Reserve Bank of New Zealand report partially opened the door for ‘bank-like’ credit unions and building societies to directly report to the central bank. Learn more >
26/08/13 NZACU chief executive Henry Lynch said bank account number portability would bring down the cost of banking for customers over the long term because banks would have to work harder to hold on to customers. "Once it's portable, the customer is benefited by reduced prices ..." ...
28/06/13 Peseta Sam Lotu-Iiga, MP for Maungakiekie, has announced that he will introduce a Private Members Bill to Parliament aimed at providing legal status to Credit Unions. “This bill is aimed at giving these institutions their own legal status, clarifying an archaic administrative process...
8/05/13 The Aussie-owned banks are currently reporting another round of bumper profits - but imagine if there was a bank that was more interested in helping you get ahead than screwing every last dollar out of you. Credit unions are a viable alternative. Learn more >
2/04/13 Credit Union Insurance Limited, the insurance business owned by the New Zealand Association of Credit Unions (NZACU), joins just 7 other fully licensed insurers today when it was issued with its full insurance license by the Reserve Bank of New Zealand (RBNZ). Learn more >