Business or the evening included:
Result: 97% of NZCU Baywide members who voted were in favour of the merger. This followed a week of meetings and voting from other merger partners. Read the full media release here.
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The Board of NZCU Baywide has been in discussions to join forces with four other New Zealand owned credit unions to merge into one single credit union. The Board now recommends members support the unification via Transfer of Engagements of NZCU South, NZCU Central, NZCU Steelsands, Aotearoa Credit Union and NZCU Baywide. This proposed merger will create scale efficiencies allowing us to better serve you, our member-owners. As a result, your credit union will have approximately $600m in assets, serving around 70,000 New Zealanders with close to 280 staff.
Our goal has always been to help everyday Kiwis achieve their financial goals. This united approach will position us as a more competitive banking alternative that is 100% customer and Kiwi owned. It allows your credit union to provide improved solutions to assist even more New Zealanders to achieve their goals. Credit unions have been an important part of the New Zealand financial sector for over 50 years. This merger is a commitment to preserving the co-operative principles at the core of the credit union movement.
As owners of NZCU Baywide, we encourage you to be involved in this process and carefully read the information above. We urge you to make an informed decision as to whether you believe in and support our vision of creating New Zealand’s largest credit union that will ensure a stronger, more sustainable organisation for the future.
All member-owners are invited to attend our upcoming Special Meeting in March, where we will discuss the detail of the proposed Transfers of Engagement followed by a member vote. This will allow you an opportunity to interact with your Board, management team and staff.
We truly value your business, ongoing support and loyalty as a member-owner of NZCU Baywide. Please feel free to contact us directly at any time if you have a question regarding any aspect of the proposed Transfers of Engagement, you’re also welcome to send Gavin a private email to firstname.lastname@example.org.