Dealing with many banks does give us a wide variety of options and we thought it timely to introduce one of our lesser known NZ banks. In 2011 the Cooperative Bank was formed out of the then 83 year old PSIS (Public Service Investment Society). It is a unique bank in that its clients are its shareholders and are given a share of the profits. In the 2013 year it paid $1,000,000 in rebates to its clients, this year it has paid approx $1,300,000 in rebates. The bank offers standard banking products which include home loans with discounted rates. Its focus on client satisfaction has helped it take the top spot in the CANSTAR banking awards. 
Some of the nicer products it offers, include:
- Fresh Start – A home loan designed to help clients with a tainted credit history who show an ability to clean their track record. This bank gives the client another chance at proving themselves by dropping them down to standard interest rates after a year of timely repayments.
- A free account for over 65 and under 18 year olds.
- Highly attractive savings interest rates available for kids and students accounts, 4.50%- 5% (conditions apply).
If you would like to check if this bank may have a suitable product feel free to contact us for a quick review.
