- ASB chief executive Vittoria Shortt has been elected chair of the New Zealand Bankers’ Association and takes on the role today. BNZ chief executive Dan Huggins was elected deputy chair. The chair and deputy chair take on their respective roles for two years. Ms Shortt says the banking industry has supported Kiwis through an incredibly challenging... Read more »
- Financial mentors in small communities are helping people access banking services thanks to a partnership between FinCap and the New Zealand Bankers’ Association. A partnership agreement announced in March is now delivering for people living in places from Balclutha to Murupara through a Banking Collaboration Project funded in the first year of the partnership. Under... Read more »
- If you see signs of economic harm among family and friends, it’s important to call it out. That’s a key message from the New Zealand Bankers’ Association, which is supporting the first Economic Harm Awareness Day in Aotearoa New Zealand organised by Good Shepherd NZ on Friday 26 November. Economic harm can affect anyone, regardless... Read more »
- Changes to consumer lending law to help people avoid unaffordable debt mean it may take longer to get a loan from 1 December. Information to help consumers prepare for the changes has been welcomed by financial mentors and lenders. The changes to the Credit Contracts and Consumer Finance Act 2003 mean credit applications are likely... Read more »
- The number of customers contacting their bank has increased 20% since New Zealand went into Covid alert level 4 lockdown on 17 August. “In the first week of lockdown banks saw little customer contact due to the Covid restrictions. Since then, calls have increased on average 20 per cent. We put the increase down mostly... Read more »
- Half the people with home loans in New Zealand are ahead on their repayments the New Zealand Bankers’ Association revealed today. “Our data shows that 50 per cent of home loan customers are ahead on their repayments. That says a lot about the financial capability of people with a mortgage. They think it’s a good... Read more »
- The deposit guarantee scheme announced today by the government will provide even more security for people who have bank deposits. “Our banks are among the best capitalised and regulated in the world. We saw their strength and resilience through the global financial crisis, when there were no bank failures or bailouts in New Zealand. And,... Read more »
- The six banks participating in the Regional Banking Hubs trial are renewing their commitment to not close regional branches until the end of the year, when the trial concludes. The September 2019 announcement of the hubs pilot included a voluntary commitment to not close regional branches for the period of the trial. The full commitment... Read more »
- The loan repayment deferral scheme introduced a year ago to help borrowers financially affected by the Covid-19 pandemic ends today. The scheme allowed home and business loan repayments to be fully deferred temporarily. Deferrals were made possible by the Reserve Bank allowing these loans not to be viewed as in hardship. Credit reporting agencies also... Read more »
- The New Zealand Bankers’ Association and FinCap have today announced a new partnership, with the banking industry contributing $5 million over five years to support the financial wellbeing of all New Zealanders. The collaboration agreement will provide funding for initiatives that will directly benefit the 200 services FinCap supports who provide financial advice to tens... Read more »
