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The Co-operative Bank outranks the big 5 for customer satisfaction again
The Co-operative Bank says it is delighted to win the Consumer People’s Choice Award for banking.
The Co-operative Bank has taken out the top spot in Consumer’s 2025 banking satisfaction survey, earning a score of 77% of customers who are very satisfied, which is 20% higher than New Zealand’s biggest bank and 15% higher than the average score across all banks.
The Co-operative Bank, which is fully owned by its customers, has been voted #1 by customers in the Consumer People’s Choice Award for nine out of the past 10 years.
Chief Executive Mark Wilkshire says the win is a testament to the bank’s commitment to putting customers first.
“It shows that bigger is not necessarily better. The Co-operative Bank punches well above our weight because we focus relentlessly on doing better for our customers, who also own the bank.”
“As owners of the Co-operative, our customers can expect better from us than they can from other banks. They can expect better accountability, transparency and customer experiences,” Mark Wilkshire says.
One of the ways the Co-operative is delivering better is through competitive rates. It today announced a drop to its floating home loan interest rate from 6.20% to 5.95% p.a., which would make it the lowest standard rate of this type currently being offered by any bank in NZ, as well as offering competitive 1 and 2 year fixed rates at 4.99% per annum.
“The cut to our floating rate reflects the importance of offering customers more options. Customers can opt for floating rates while they decide when to fix or, for some customers, having some or all of their mortgage on floating gives them flexibility,” Mark Wilkshire said.
“We remain committed to helping our customers to bank better every day and we are actively working on more improvements to our products and services that our customers have asked for.”
As well as being voted first overall, The Co-operative Bank was rated #1 in four categories: its mobile app, digital banking features, interest on savings and personal loan interest rates.
The floating rate change is effective for new loans from 15 May and existing loans from 29 May.
For more information, you can read the Consumer media release here.