NZCU News

Loyal to NZCU Employees

NEws_BobIrwinNZCU Employees’ Robert (Bob) Irwin may have retired five years ago, but he still makes time to help out at the credit union each week. The 70-year-old grandfather has been a part of the organisation since 1980, five years after he joined Fletchers.

After working at Fletchers for 37 years, Bob was made redundant.

His retirement was to be short-lived. When fellow board member Marilyn stepped into the role of Credit Union manager, she arranged for Bob to help out temporarily.

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Refinancing hopes

NEWS_HomeLoansLong-time member of NZCU Employees, Simon Laumatia is three quarters of the way towards owning his Otahuhu home which he first bought in 1998. The 62-year-old machine operator recently refinanced his mortgage with the help of NZCU Employees and hopes that more people will look at putting their money towards owning their own homes rather than paying rent.

“Don’t waste your money renting”, says the father of four who came to New Zealand from Samoa in the 70s.

“It’s money that you’re never going to get back.”

Simon chuckles as he talks about the struggle of a mortgage, something he knows all too well.

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Living to work

News-WayneChildsNZCU Employees’ Loans Officer Wayne Childs is not one to dawdle. Originally working in factories and manual jobs, a motorbike accident left him paralysed at the age of 22. Working at NZCU Employees is fulfilling  Wayne’s drive to learn new skills and help our members with their loan applications and other financial needs, and he’s thriving. 

It’s a running joke between Wayne Childs and his sister that if he could work on the weekends, he would.

“I don’t want to sit around at home and do nothing,” says the 54-year-old South-Auckland raised Kiwi.

Wayne left school at the tender age of 15 and worked in factory and manual labour jobs, which he preferred, saying they were more ‘him’.

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Watch your savings grow with a Term Deposit

A term deposit helps you to maximise your hard earned savings by earning a higher amount of interest on your savings, when you put it away in a term deposit for a fixed period. Here we share some key information to help you make an informed investment decision about growing your savings through our low-risk term deposit options.

While other investments such as stocks or shares can be risky and complex, term deposits are low-risk, straight-forward investments that allow you to earn high interest rates on your savings. A term deposit is a deposit held with the credit union for a fixed amount of time, known as a term. When the money is deposited, the member understands that the money is there for the pre-determined period (3 months – 48 months).

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Have your say at our 2017 AGM

2017-AGM-NewsThe NZCU Employees Annual General Meeting is coming up on Thursday 2nd November 2017. The AGM provides a chance for our members to come and have your say and meet other members of the credit union.

Because we’re a 100% New Zealand owned financial cooperative, our ultimate responsibility is to our members. As part-owner of your Credit Union you have a say in how your Credit Union is run, because you’re not just another number to us.

An annual general meeting (AGM) is a yearly gathering of our members. That means, the AGM gives you a chance to meet other members of the Credit Union and have your say on what matters to you.

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Paying her way

NEWS_TeresaDaviesTeresa Davies brings a wealth of experience to her role as Chair of NZCU Employees, having worked in the HR and payroll sector across much of the country for more than three decades. Since moving to Auckland in 2008 she has worked for a number of large organisations, including Fletcher Building and now The Warehouse, where she was recently promoted to the role of Payroll Manager.

Being on the Board of Directors for an organisation such as NZCU Employees today is a far cry from the old days, according to Chair Teresa Davies.

“People were encouraged to join a Board primarily because they were known and trusted and they had to make up the numbers required. It was basically getting enough bums on seats,” she recalls.

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A unique opportunity – Recruiting Now for our Board of Directors!

NZCU Employees is currently taking nominations for our Board of Directors. As a non-profit organisation we strive for service over profitability, however we must also make sound financial decisions. This is a unique opportunity to apply your skills and take our Credit Union into the future.

As a mutual financial organisation, NZCU Employees is democratically governed by our board which is elected from and by our members.

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Harsh’s helping hand

NEWS_HarshWhen Financial Accountant Harsh Singh-Garcha came to New Zealand from India in 2015, he was the first person in his family to ever live abroad. Upon graduating from MIT (Manukau Institute of Technology) with a Graduate Diploma in Accounting, he searched everywhere for a place to establish his career. NZCU Employees heard about his ambition and answered his dreams.

“It was my Christmas present,” Harsh says with a laugh as he recalls landing his first role here at NZCU Employees as a volunteer in late December 2015.

It all began when he started knocking on doors looking for opportunities.

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NZCU Employees now offering Co-operative Bank home loans

MAIN_HomeLoansNZCU Employees is now able to offer home loans to members through The Co-operative Bank.  Co-op have a full range of product options and their experienced lending staff will work with you to make sure that you get the right Home Loan solution for your situation.

The range of products on offer include Welcome Home Loans for borrowers  who have a minimum of 10% deposit and Fresh Start loans for people who have/have had previous credit problems. NZCU Employees will receive commission from Co-operative Bank for each home loan.

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Supplementary Document to the Product Disclosure Statement

This is a supplementary document to the NZCU Employees Product Disclosure Statement dated 16 November 2016 relating to an offer of Shares issued by New Zealand Employees Credit Union.

This supplementary document supplements Section 6 – ‘Specific risk of investing’ of the Product Disclosure Statement dated 16 November 2016 relating to an offer of Shares issued by New Zealand Employees Credit Union (PDS) by inserting a new sub-section 6.7.

This supplementary document is to be read together with that Product Disclosure Statement. No other supplementary documents have currently been lodged.

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