This Disclosure Statement was prepared as at 1 July 2026.
The Co-operative Bank Limited FSP17605 ("we", "our", "us") holds a licence issued by the Financial Markets Authority to provide regulated financial advice.
Under our licence, we and our Nominated Representatives are only permitted to provide financial advice in relation to the products set out in this disclosure statement. Any financial advice given on our behalf by our Nominated Representatives may also be limited by their specific role, experience, and product expertise.
Nature and scope of the advice
We can provide you with regulated financial advice in relation to the following The Co-operative Bank Limited and Co-operative Life Limited products:
- Transactional and Savings accounts
- Personal and Home Lending products
- Life and Loan Insurances
We do not otherwise provide financial advice on our investment products, such as Term Deposits or products offered by other providers (including any products we distribute on behalf of other providers, such as KiwiSaver and General Insurance).
This means that, among other things, we will not compare our products with similar products offered elsewhere. We do not provide financial advice on specialist areas (for example, estate or investment planning) or provide a financial planning service, so you will need to consult an independent financial adviser if you would like advice in any of these areas.
We do not provide advice on any of our legacy loan, small business banking or life insurance products.
Any financial advice we give will usually be based only on limited amounts of information that you provide us and the circumstances at the time. Our advice does not apply on an ongoing basis. If your circumstances change, we recommend that you contact us to get up-to-date advice.
Reliability history
A reliability event occurred on 31 March 2026, when the High Court ordered us to pay a pecuniary penalty for breaches of the Credit Contracts and Consumer Finance Act 2003 relating to some of our historical credit fees that were found to be unreasonable.
Fees or expenses
We do not charge fees, expenses or any other amounts for any financial advice provided to our customers.
However, our advice may relate to certain products or services that contain one-off or regular fees. These fees are set out in our fees brochure. If any of the products we recommend have fees or charges, we will provide you with the details of these.
Conflicts of interest and incentives
None of our Nominated Representatives receive any commissions or incentives in relation to giving our customers advice.
To enable our Nominated Representatives to prioritise our customers' interests above our own, we follow an advice process that requires our Nominated Representatives' recommendations to be made on the basis of the customer's financial needs and personal circumstances. As a result, products that do not meet the customer's financial needs and personal circumstances should not be recommended.
All our Nominated Representatives undergo regular training about how to manage conflicts of interest.
We maintain registers of conflicts of interest. We monitor these registers and provide additional training where necessary. We regularly conduct compliance reviews on our Nominated Representatives, and our compliance programme is subject to audit.
Complaints handling and dispute resolution
If you are not satisfied with our financial advice service, you can make a complaint to one of our frontline teams by:
- Email: complimentscomplaints@co-operativebank.co.nz
- Phone: 0800 554 554
- Post: PO Box 54, Wellington 6140
When we receive a complaint, we will consider it based on our internal complaints process. We will:
- Consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information. You can expect to hear from us within 10 working days of receiving your complaint.
- Aim to resolve complaints within 10 working days of receiving them. If we can't, we will contact you within that time to let you know we need more time to consider your complaint.
- Contact you by phone or email to let you know how we propose to resolve your complaint.
If the outcome of our internal complaints process has not resolved your concern, you can refer your complaint to our external dispute resolution scheme, the Banking Ombudsman Scheme.
The Banking Ombudsman Scheme gives you access to a free and independent service that may help investigate or resolve your complaint.
Postal Address:
Office of the Banking Ombudsman Scheme
Freepost 218002
PO Box 25327
Wellington 6140
Freephone: 0800 805 950
Email: Help@bankomb.org.nz
Website:www.bankomb.org.nz
Please note that at any time during our resolution process, you may contact the Banking Ombudsman Scheme. If the matter has not gone through our internal complaints process, they will likely refer you back to us in the first instance.
Duties information
We and anyone who gives financial advice on our behalf (including our Nominated Representatives) have duties under the Financial Markets Conduct Act 2013 relating to the way we give financial advice.
We are required to:
- Prioritise our customers' interests by taking all reasonable steps to ensure our advice is not materially influenced by our own interests.
- Exercise care, diligence, and skill in providing you with advice.
- Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services.
- Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services.
This is only a summary of the duties that we (and anyone who gives financial advice on our behalf) have.
More information is available by contacting us or by visiting the Financial Markets Authority website at: www.fma.govt.nz