Financial Capability


Financial Capability

For us and our members at NZCU Employees, financial capability goes deeper than what we know about money.

As a financial cooperative the knowledge helps us make wise judgements about how we use and manage our money in ways that benefit us now and in the future, enable us to reach our goals, provide for our family and, eventually reach retirement in good financial shape. 


Because we’re a 100% New Zealand owned financial cooperative it’s our business to serve our members and help them to succeed with their financial goals.

In order to do that we need to ensure that we can help our members manage their money and understand the importance of being financially savvy.

With the help of the Commission for Financial Capability we have some questions you can ask yourself when thinking about your money and financial health.


What influences our decisions?

Knowing relevant information about money is one thing, however there are other factors that can help or hinder our financial capability- including our upbringing and money habits we’ve formed over the years. Our family and culture’s attitude towards money also play a part, including the expectations placed in our management of money. How we feel about having or not having money can also be an influence.


What is your attitude toward money?

Everyone’s attitude to money is different and by looking at what motivates people, the government’s financial capability programmes and help from us can create lasting behaviour change. Improving New Zealanders’ ability to manage their money across a lifetime gives individuals greater financial certainty and freedom. It helps to reduce hardship among families, creates resilient communities and a more prosperous and productive economy. Financial capability is an essential life skill for all New Zealanders.


What does being financially capable mean?

The National Strategy for Financial Capability envisions everyone getting ahead financially. That includes everyone saving and investing, managing debt to their advantage, having a current financial plan, being prepared for the unexpected, learning about financial capability and being comfortable talking about money. We have accounts that can help you save and out team of dedicated staff are always willing to explain your accounts so that you can maximise our services to suit your financial needs.



Why is financial capability important?

New Zealand is experiencing an unprecedented demographic change with an ageing population. Migration, fertility and mortality rates are shifting our population’s age structure, ethnic mix and dependency ratio – so the number of workers to those of retirement age is declining.

New Zealanders need the ability to provide for themselves more than ever before.

New Zealand society is also experiencing changing social norms on how much we buy and consume, and the way we view debt. Technology and easy access to high-interest credit have made debt easier to acquire.

It’s easy to get caught up in spending on what’s needed for today and leaving tomorrow’s financial woes to deal with tomorrow, however we have a number of services that can help New Zealanders to focus on their financial wellbeing, providing the tools and knowledge to help them achieve a healthy financial future.

See which of our products and services can really help you build good financial habits while at the same time helping you take care of any needs you may have: