Profit share is about sharing the Co-operative’s success with customers
In 2025 we’re sharing $1.5 million with our customers. This will take the total amount of rebates shared back to customers since 2013, to $24 million.
Proud to be a co-operative.
The Co‑operative Bank is proudly different: we’re a co-operative, entirely customer-owned, and here for the long-term benefit of the co-operative, for our customers and our people - to grow together and share the gains.
We’re the only NZ bank that shares profits with eligible customers, in the form of a rebate.
Rebates are paid from a portion of the Bank's profits and are discretionary in nature. This means they are paid if the Bank has made sufficient profits and has the capacity to do so. The payment of rebates cannot be guaranteed.
In 2025 our lower profit means our rebate pool was smaller - $1.5 million down from $2.5 million in June 2024.
This means customers may have received smaller rebates this year than they have in the past.
While the investments we need to make in the Bank’s future mean lower profitability and rebates this year (and profit is projected to remain lower for the short term), these investments will set the Bank up to be more successful in the long term and keep delivering better for our customers.
Building a strong co-operative for the future
We reinvest the remainder of our profits to support ongoing growth, in our people and technology and in customer focused initiatives, building a strong co-operative for the future.
From CEO - Mark Wilkshire
“… as well as sharing rebates with customers, we are investing in the people and technology we need for the future of the co-operative. This includes replacing our core banking system – a once in a generation investment – as well as other future-focused projects looking at customer needs and products,”
Banking together, means we can all bank better.
Our co-operative works on the principle of participation.
Simply put, the more banking you do with us, the larger your rebate could be.
If you’d like to talk to us about any of your banking needs, you can speak to one of our team.
Customers may miss out on rebates for a few reasons, like if they haven't banked much with us, if their accounts weren't in good standing during the last financial year, or if they have only recently joined the bank.
How rebates work.
The amount of rebate eligible customers receive is largely based on their banking activities with us over the 12 months ending 31 March each year. It considers factors such as regular deposits, any deposit and loan account balances and the length of their relationship with us.
Rebate payments are direct credited to eligible customers' Co‑operative Bank everyday or savings accounts.