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Key Statistics and Facts

The New Zealand Association of Credit Unions (NZACU) is the industry association for credit unions which is owned by 21 member credit unions and exists to represent, promote and support Member credit unions and Associate Members, and provide cost effective business services.

The New Zealand Association of Credit Unions came into existence in 1961 as the New Zealand Credit Union League. In 1989 the NZACU became the New Zealand Association of Credit Unions.

In 2011, we celebrated 50 years of proud service to our Members and today we represent 21 credit unions and four Associate Members.

NZACU's 21 credit unions employ 450 staff and process over 66 million financial transactions per year.

In total, the NZACU represents 209,000 members, with 110 branches and assets of over $1.2 billion.

 

Key Business Services provided:

  • 24/7 real time bureau and core banking software platform with a full suite of savings and loans products
  • A debit card which can be utilised at all ATM and EFTPOS terminals throughout New Zealand and overseas where the MAESTRO logo is displayed
  • A nationwide network of over 85 ATMs
  • Full service bank accounts to credit union members via an interface to the clearing system
  • A local help desk support
  • A central treasury system for managing credit union liquidity
  • A range of insurance products such as funeral, house and contents, loan protection as well as motor vehicle insurance.

Key Member Services provided:

  • Guidance on legislative changes
  • Learning and development courses for credit union directors, managers and staff
  • Strategic planning assistance
  • Governance guidance
  • Management systems and accounting procedures
  • Financial and operational performance monitoring
  • Best practice guidelines and benchmarking
  • Advocacy in lobbying with Government regulators
  • Marketing guidance and assistance with growth strategies
  • Public affairs, public relations and communications
  • Development of credit union websites hosted by the Association
  • Liaison with World Council of Credit Unions on international events and other affiliated organisations where appropriate.

Worldwide, there are over 53,000 Credit Unions in 100 countries, representing over 188 million members with over US$1.1 trillion in assets.