Media Centre

Media releases and news about credit unions and mutual building societies in New Zealand published by New Zealand Association of Credit Unions.

Save, spend, enjoy

19/05/14 Henry Lynch is chief executive of the New Zealand Association of Credit Unions, which represents 22 financial co-operatives with over 200,000 members. The Sunday Star Times' 'Face Value' asks him his thoughts and experiences with regards to personal financial management...>learn more

> learn more

New law for credit unions, finance companies

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...

> learn more

It's in your interest to get better return from banks

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 >

> learn more

Call for 'mum and dad' RBNZ supervision

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 >

> learn more

Banks pressured to make swaps easier

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 ..." ...

> learn more

Members Bill to provide legal status to Credit Unions

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...

> learn more

Law change clears way for credit union advisers

11/06/13 New Zealand's credit unions have had an early Christmas present after the Government changed the law clearing the way for all financial advisers to provide advice on credit union savings accounts and term deposits. Learn more >

> learn more

Credit Unions A Viable Alternative

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 > 

> learn more

Credit Union gets tick on insurance licence

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 >

> learn more

Parties agree red tape needs removing

11/03/13 Political parties are pledging to change laws and regulations preventing credit unions from growing and competing with the big banks. Learn more>

> learn more

International Co-operative Alliance