The Co-operative Bank has won Consumer NZ’s People’s Choice Award for the third year in a row, demonstrating its true commitment to #BankBetterNZ.
Consumer NZ’s annual Bank Satisfaction Survey asks customers about their experience with banks to find out who has the most satisfied customers.
Chief Executive, Mark Wilkshire, says as a co-operative, the recognition from its customers is the most important measure for the bank.
“Customers are our top priority, so this award means a lot to our team. Our people work hard everyday to achieve the best possible outcomes for our customers,” says Wilkshire.
“Our strategy is to build lasting relationships with our customers, who by simply joining the bank also become a member of the co-operative”.
The Consumer NZ survey found The Co-operative Bank scored 20 per cent higher than its closest competitor.
“We believe that there is a better way of banking, that’s why we are committed to making sure we are a bank who looks after our customers – who because we are a co-operative are also our shareholders,” says Wilkshire.
The Co-operative Bank ranked first across 11 out of 13 customer satisfaction categories, demonstrating the breadth of expertise and experience The Co-operative Bank customers receive.
These measures were across a broad range of areas including home loan and personal loan rates, interest on savings, value for money, service experiences , responsible lending and security.
Consumer NZ Bank Satisfaction Survey found 86% of customers overall are very satisfied with the service they’re getting from The Co-operative Bank, the highest score achieved in the survey, and up three percentage points on its 2023 score.
The Co-operative Bank has won the award eight out of the last nine years.
“Receiving this award for the third year in a row is a challenge as much as a win for us. We are continually looking to improve and keep providing even better customer service. We might be small, but we’re mighty.”
About The Co-operative Bank
The Co-operative Bank is the only bank in New Zealand to share its profits with its customers. We offer what you’d expect from a bank – accounts, lending, insurances and more but we’re truly different from other banks in that we’re owned by our customers and we were built on the idea of giving back. Since 2013 we have shared over $20m with our customers in the form of rebates. We have 25 branches throughout the country, and around 180,000 customers from all over New Zealand.
