The Co-operative Bank

News and Updates

22 August 2014 - Chairman's Quarterly Update

  • Introduction
  • Product and service news
  • The environment
  • First quarter financial highlights
  • Farewell to John Isles

Read the quarterly update Read the quarterly update

Hoax Email Alert - 11 August 2014

Some of our customers have recently received hoax emails. The email states it is sent from The Co-operative Bank.

Read more about the hoax email alerts

Our mobile banking app is here! - 28 July 2014

Our great new mobile banking app (for iPhone and Android phones) is here and ready to download from the Apple Store or Google Play.

Read more about the Customer Satisfaction Survey

Annual General Meeting results 2014 - 25 July 2014

On Thursday 24 July 2014 we held our Annual General Meeting (AGM) at the City Gallery in Wellington.

We had an excellent turn out with 85 people attending in person and 3527 shareholders appointing a proxy.

Read more about the AGM results

Customer Satisfaction Survey - 23 July 2014

From Wednesday 23 July, MMResearch™ will be conducting a Customer Satisfaction Survey on behalf of The Co‑operative Bank.

You may be selected to take part in this survey, which will be conducted online, and will only take about five minutes of your time. MMResearch™ will not ask for any of your banking details, as this is purely about customer satisfaction.

Read more about the Customer Satisfaction Survey

FATCA - Change to terms and conditions - 3 July 2014

We have updated the "Indemnity" section in our general Terms and Conditions from 17 June 2014 to clarify who we may be required to share personal customer information with.

Read more about FATCA

Media Release: The Co-operative Bank to share $1.3 million with customers - 27 June 2014

The only New Zealand bank that shares its profits with its customers is giving back even more money this year.

For the second year in a row The Co-operative Bank will pay a share of its profits directly to its customers.

As a result, on 1 July 2014, the majority of customers will receive a portion of a total $1.3 million rebate payment, Chief Executive Bruce McLachlan announced. This is an increase from the $1 million in rebates paid out last year.

Read More about the media release.

Media Release: The Co-operative Bank net profits rise - 27 June 2014

The Co-operative Bank has experienced a sound year of growth in its second full year as a registered bank.

Read More about the annual report.

Change to payment limits - 16 June 2014

Great news! Advanced new security means our internet banking customers don’t need to use a Safekey for internet banking payments up to $5000*.

Read more about the interest rate changes

Interest Rate Changes - 13 June 2014

With the OCR increasing to 3.25% yesterday we are making changes to both Term Deposit and Home Loan interest rates which came into effect today (13 June).

Read more about the interest rate changes

Lower Hutt branch moving to Queensgate - 28 May 2014

From Tuesday 3 June our Lower Hutt branch will be in a handy new location and open seven days a week.

Read more Lower Hutt branch moving to Queensgate

Removal of cheque duty - 16 May 2014

It was announced in the Government’s Budget on 15 May 2014 that from 1 July 2014 the requirement to pay cheque duty on cheques will be removed. Cheque duty is 5c per cheque or $2.50 per cheque book.

Read more about the removal of cheque duty

The Co-operative Bank leads the way in Canstar’s 2014 banking customer satisfaction ratings - 8 May 2014

We’re pleased to say that we’ve won the 2014 Canstar Blue Award for “Most Satisfied Customers” in the banking industry, scoring the maximum five stars across seven of the eight categories. Thanks to all our amazing customers and staff for this great achievement!

Changes to payment deductions on weekends and public holidays - 17 April 2014

From Monday 28 April 2014 (after Easter/ANZAC Day) all payments due on a weekend or public holiday will be deducted from your account on that weekend/ public holiday. This change affects Automatic Payments, Loan Repayments, Future Payments and Immediate Payments.

Read more changes to payment deductions on weekends and public holidays

Check out our interest rates

Home Loan

5.89 % per annum

Fixed for 18 Months.

Read more about home loans


4.50 % per annum

6 month term deposit. Minimum investment $5000. Interest compounded quarterly.

Read more about deposits


From 13.50 % per annum

Unsecured loan with full banking discount (1.00% pa). Read more about Personal Loans

To qualify for the full banking discount, one of the borrowers of the loan must credit their main income to a transaction account at The Co-operative Bank. On our Personal Loans we also offer an interest rate discount to members who take out, or hold, insurance with us – ask us about which insurance options qualify for this discount.


17.50 % per annum

Arranged Overdraft.

Unarranged Overdraft interest rate 22.00%pa.

Read more about overdrafts

An Investment Statement and the current Disclosure Statement are available from any branch of The Co-operative Bank or can be downloaded here.

Interest rates and fees are subject to change. For all lending products, The Co-operative Bank lending and insurance criteria, and fees, apply.

If a home loan is greater than 80% of the property's value, a low equity interest rate premium will apply and the revolving credit home loan will not be available.

The Co-operative Bank is registered as a bank by the Reserve Bank of New Zealand and is an entity trading (for the purposes of the Fair Trading Act 1986) under and pursuant to the Co-operative Companies Act 1996.