The Co-operative Bank

We like to think our people are superstars when it comes to talking to customers about money. And we know talking about money is an important first step towards better financial wellbeing and stronger relationships. But for most New Zealanders, talking about money is hard. So today, we’re officially breaking the ice to help get money conversations started right across Aotearoa New Zealand.    We’ve launched Money Match Up, a content series that gets real life Kiwi couples talking about money - and discovering where their money views match up, and where they don’t.   The show is hosted by Comedian Sam Smith, who is joined by our superstar Wellington Branch manager, Chloe Mexted, offering her money-savvy insights and tips to help New Zealanders to bank better. We hope the series will encourage more New Zealanders to talk about money with friends, family and significant others – as well as to talk with us.  To get a taste of Money Match Up, check out the video below. We hope you enjoy it, and that it helps you to spark up meaningful money conversations too.   The full episodes are available on the ThreeNow website and app and on YouTube https://lnkd.in/gW9mu4Y9. You’ll also see the conversations (and more of our team’s money tips and tricks) appearing on TV Three and the Discovery Network, as well as across social and digital platforms. A big shout out to everyone on The Co-operative Bank team who has been involved in sparking this fresh, fun, and very important kōrero (especially Chloe Mexted, Catherine Bateman, Kim Waghorn, Natalie Gamble, Ethan Childs, alongside our partners at Warner Bros. Discovery, FEDERATION. and D3 NZ. #BankBetterNZ #MoneyMatchUp

Our team has a wealth of experience to help New Zealanders to bank better. Our Chief Product Officer Jon Armour has shared a little of his expertise with mortgages.co.nz - with some tips for getting mortgage-free faster. Small changes can go a long way: https://lnkd.in/gqKvmFbB

We’re looking forward to welcoming our customers joining us this evening for our Annual General Meeting, which kicks off in just under an hour. Our AGM is just one more thing The Co-operative Bank does differently to other banks. Because our customers own the bank, the AGM is a chance for them to hear about our progress, plans and priorities and to have their say. Many have taken the opportunity to vote online in advance of the AGM on the director election resolutions and to appoint a proxy to vote on their behalf on the other resolutions being considered at the AGM. These include a resolution to replace our current Constitution. Other customer shareholders will be joining the AGM (either online or in person) to vote on these other resolutions, ask questions and share their views. We will also farewell our Board Chair Sarah Haydon, who is retiring from the Board at the AGM after completing her nine years as a director, including the last four as Chair of the Board. Sarah will be replaced by our current Deputy Chair Brett Sutton (pictured with Sarah). Brett is an experienced independent Director who was appointed to the Board in December 2017. We would like to acknowledge Sarah for the enormous contribution she has made to The Co-operative Bank over the past nine years. She has been a highly committed Chair with real conviction and belief in the purpose of the Co-operative: to grow together and share the gains with our customers.  

Today The Co-operative Bank is sharing $2.5 million of bank profits from the past financial year with our eligible customers across Aotearoa New Zealand. The Co-operative Bank is not just New Zealand owned – we are owned by our customers, everyday New Zealanders. We are the only bank in New Zealand that shares profits directly with customers as rebates. Today’s rebates take the total paid to customers since our profit-sharing initiative started in 2013 to more than $22 million.  At the end of each financial year, The Co-operative Bank’s Board decides whether, and how much, to share with customers as rebates, after considering a range of factors including the previous year's earnings and the co-operative’s future investment needs and priorities. In May, our Board announced a profit before rebates and tax of $20.2 million for the year ended on 31 March 2024, and committed to returning $2.5 million of this to eligible customers. The rest of the bank’s profits from the past year will be reinvested back into the co-operative for the benefit of our customers, including significant investment in technology. Sharing our profits is just one of the ways we share in our success as a bank, and help customers to have more money in their pockets. We are here to help customers bank better. You can read more about our profit-sharing on our website at https://lnkd.in/gREBp-mf #BankBetterNZ #GrowingTogether #SharingTheGains

As part of our commitment to leadership development, we are proud to be partnering with Powrsuit - a female-led start-up working to amplify the impact of women who lead.

🌈 Proud to join forces and get out yesterday across the motu to power walk with our mates at Bank of New Zealand, ASB Bank, Kiwibank and Westpac to support Sweat with Pride Aotearoa.   We're proud to be in a banking sector that embraces diversity and inclusion, so it's amazing to have an opportunity like Sweat with Pride to celebrate and show our collective support for our rainbow communities and allies. Sweat with Pride’s fundraising supports life-changing services like RainbowYOUTH, InsideOUTKōaro and OutLine Aotearoa. These services include counselling, education, advocacy, and peer support.

Not quite 'an ordinary day at the office' for some of our crew :-)

Today we have released The Co-operative Bank’s 2024 Annual Report highlighting a year of steady growth and customer success, supporting our view that New Zealand bank customers have an appetite for change. In a competitive market we have exceeded market growth in home loans and deposits. Our home loan business grew at 8%, while the NZ home loan market grew at 3%. And we were voted #1 again in the Consumer People’s Choice Award for banking: confirming us as the bank with New Zealand’s most satisfied customers.  We reported a profit before rebates and tax of $20.2 million – with $2.5 million of profit rebates to be returned to our customers, who are our shareholders. The remainder will be reinvested into the co-operative, so we can continue to deliver the best possible products and services for our customers. We are proud to have made a positive difference in the lives of New Zealanders while growing customers, sustaining profits and helping more New Zealanders into homes. We may be small but we are mighty and we are well positioned to keep helping more New Zealanders who are looking for change. Here are some of the highlights from our Chief Executive Mark Wilkshire And you can check out the full Annual Report here: https://lnkd.in/gQbaHN_F #bankbetternz

We're #hiring a new Sustainability Lead (fixed term) in Wellington. Apply today or share this post with your network.

Murray Anderson is the first to admit that five years in any role is long enough. "You can get stale and you need new challenges, and to also give other people the opportunity."   But this week he's celebrating 45 years working with the co-operative. And he's not ready to leave yet. Although it's been 45 years with one employer, Murray has had 12 different roles in that time. Each role has brought new experiences, challenges and opportunities.   His first role with us (the PSIS as we were then) was after school - cleaning and helping with inwards goods for the PSIS retail store. That included regular visits to NZ Railways, to invoice them for inventory like televisions and pillows that would 'go missing' en-route to Levin.   In 1979 he started full-time as a teller at the Levin Branch and has since worked as an investment officer, a lending specialist, an assistant branch manager and a branch manager (at three different branches), an assistant operations manager, operations manager and regional manager, and has been seconded onto special projects - before his current role as our Process Improvement Manager.   The one thing that hasn't changed in all those years is his focus on customers - even after moving away from frontline roles.   "The reason I was interested to start with was because I was working with people all the time, helping them out. That has been my motivation my whole career. These days I don't help customers directly but I know I am helping other people to help customers.   "It has always been about the customer."   Murray still gets up in the morning and looks forward to coming to work and making a positive difference for our customers. Currently that includes working on scam projects with the wider banking sector.   "I am really excited to be involved in that and energised by the quality people that the banks are putting onto it, and I am still learning. There is always more to learn." #ourpeople #peoplefirst #bankbetterNZ