The Co-operative Bank

News and Updates

2014 Director Elections – nominations are now open - 24 April 2014

One of the ways The Co-operative Bank is truly different from other banks is that our members have a say in how the Bank is governed. About this time every year, they can nominate and vote for members on our Board of Directors.

Read more about the 2014 Director Elections.

When will my Automatic Payments be debited from my account if it's due on a Public Holiday? - April 2014

If your Automatic Payment is due to be debited from your account on a day that falls on a Public Holiday, your Automatic Payment will be taken out the business day prior to the Public Holiday.

Read more about Automatic Payments due on public holidays.

Opening hours Easter/ANZAC Day - April 2014

Find out more about our opening hours over the Easter/ANZAC day period.

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

This doesn’t affect you yet but we need to let you know that 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

OCR rise sees increase in deposit and loan interest rates – 14 March 2014

Yesterday the Reserve Bank increased the Official Cash Rate (OCR) from 2.50% to 2.75%. In a nutshell, it has increased the OCR because the economy is performing strongly and its role is to keep inflation under control.

Read more about the OCR rise

Worth Knowing – Member newsletter February 2014

Welcome to our first newsletter for 2014. This year promises to be another year of major progress for the Bank and there is much to look forward to. Click here to see our major highlights of 2013 and our plan for 2014.

February Quarterly Update - 3 March 2014

  • Chief Executive Introduction
  • Our youth accounts
  • Credit rating
  • LVR ratio
  • Branch openings
  • Third quarter financial highlights

Read the quarterly update Read the quarterly update

Update on card skimming issue - 21 February 2014

Yesterday we discovered that some of our members could have been affected by a card skimming operation.

Read more of the update on card skimming.

Some members affected by card skimming - 20 February 2014

Today we’ve had reports of an ATM card skimming operation in Auckland, Porirua and some parts of Christchurch which seems to have affected many banks. Card details have been obtained and used to create fake cards, and a small number of our customers have had money taken from their accounts. We are now cancelling affected cards to protect our customers’ money, and we are calling these customers this afternoon.

If you are using EFTPOS today and find your card doesn’t work, please call us on 0800 554 554 and we can put the transaction through manually. We are sorry for the inconvenience, but this is the only way we can protect your funds.

New banking package for tertiary students - 10 February 2014

From 24 February 2014 we’ll be launching a great new package for tertiary students.

Read more about our new tertiary package for students

Credit Rating – The Co-operative Bank - 13 December 2013

The Co-operative Bank has been rated as BBB- with a stable outlook by Fitch Ratings. You can find more information here.

Dunedin branch has moved - 10 December 2013

We’d like to remind all our Dunedin-based customers that our Dunedin branch is now at 305 George St.

The phone number is still the same.

Co-operative Bank TV Ad – 9 July 2013

We’ve had some great feedback about our new TV ad and you can now find it here to enjoy anytime.

Check out our interest rates

Home Loan

5.99 % per annum

Fixed for 2 years.

Read more about home loans

Deposits

4.10 % per annum

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

Read more about deposits

Personal

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.

Overdraft

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.