NZCU Baywide has 5,000 more member customers following the merger with Wine Country Credit Union.
NZCU Baywide chief executive Gavin Earle said the merger which formally came into force on April 1 boosts member numbers to over 30,000 across 15 branches in the lower North Island.
Mr Earle said a priority of the merger is to continue its unique brand of personal banking and grow market share.
“The merger further strenghtens our position as a banking alternative to the main banks.
“We can now focus on significant growth, extending our product and service range while also enhancing our relationship with existing members and attracting new members,” Mr Earle said.
NZCU Baywide is the largest credit union in New Zealand. It is also part of a larger group of NZCU credit unions which works closely to give members added benefits including access to an extensive network of branches throughout New Zealand.
NZCU Baywide’s head office is in Hastings with the branch network spread from Gisborne, through Hawke’s Bay and Manawatu-Wanganui across to Taranaki and down to Wellington.
New branches recently opened in Gisborne and Masterton and a branch in Wainuiomata is relocating to a new site in April.
“Geographically our greatest growth opportunities for new customers are outside of Hawke’s Bay and we’re looking at opportunities to extend our branch network even further,” Mr Earle said.
NZCU teller Kelly McKay said the continued growth was proving that the credit union is “future focussed” and that there was continuity of being “known as local to many familiar faces”.
“We know most of our customers by their first name and we show a real interest in what we can do to help them get ahead financially and this personal service is really our difference,” she said.
“At the end of the day it’s all about doing what is right for them first and foremost,” adds Mrs McKay.
Sharon Russell is moving across to be part of the NZCU Baywide team and says it’s also important that the many Wine Country members have a seamless move as well.
“Like Wine Country, Baywide has its origins here in Hawke’s Bay. Our members are excited about the change, they’ll get a better range of products and services and will also be able to make transactions at branches throughout New Zealand,” she said.
Longstanding member of Wine Country Credit Union Simon Nixon says he was attracted to the “people helping people” principles offered by credit unions.
“Credit unions are cooperatives, the basic principle being that as a member I am a part-owner, at the same time as being a customer. They put the interests of their members first,” says Simon. “I get top rates on my savings and at the same time know that my money is being put to use in the local community to help other members”.
Gavin says NZCU Baywide is continually looking at ways for members to share further in its success.
Members already receive fee rebates based on the total value of the relationship across its range of products and services. Last year over $500,000 was rebated back to NZCU Baywide’s members.
“Credit Unions are not publicly-listed companies and so, unlike banks, don’t have the pressure to maximise profits to pay external shareholders”. “Instead, credit unions put their profits back into better rates, fairer fees, responsible lending and outstanding customer service.
NZCU Baywide has over $165 million in assets and $28 million in reserves. Reserves are the equivalent of Shareholder Funds.
About NZCU Baywide
Credit Union Baywide, trading as NZCU Baywide, was established in 1971. It has branches in Gisborne, Wairoa, Napier, Hastings, Waipukurau, Dannevirke, Palmerston North CBD, Palmerston North Hospital, Wanganui Hospital, New Plymouth, Waitara, Masterton, Porirua, Lower Hutt and Wainuiomata. It is a member of the New Zealand Association of Credit Unions.
