New Zealand’s FIRST affiliated credit union

New Zealand’s FIRST affiliated credit union

First Credit Union became New Zealand’s first affiliated credit union when it began in 1955.

Its success has been due to the dedicated volunteers who have rallied together to promote the “people helping people” philosophy (the original ‘peer to peer’ lender) for over 60 years.

“First Credit Union offers reliable, personal banking for its members with low fees and competitive interest rates.”

The credit union’s common bond is New Zealand; however, it has a strong presence in the Waikato and Bay of Plenty region which is supported by eight branches. It is also NZ’s most popular credit union- with 65,000 members.

First Credit Union’s values are based on the founding principles of credit unions worldwide and that sets it apart from banks and finance companies.

First Credit Union is about:

  • Promoting saving and thrift among its members;
  • Using members’ savings for their mutual benefit; and
  • Encouraging the wise use of money.

Set for the future

In 2017, First Credit Union replaced its core banking system that it had since 1986, with a tier one system which is proudly built and based in New Zealand through Finzsoft Solutions.

Simon Scott, First Credit Union General Manager, “is confident that the change to the new core banking system positions First Credit Union to continue offering members industry leading banking products and services for the next decade and beyond”.

On 1st June 2018, First Credit Union successfully launched First Insurance Limited, a fully owned subsidiary, providing loan protection insurance to its members.

Community First

For over 60 years, First Credit Union has been helping its local communities.
The First Credit Union team is passionate about its communities and are proud to support many local events throughout the year.

“We encourage Board, Management and Staff to do their b in their local community, supporting the members who support us.”

Whilst First Credit Union has grown over the years, it is proud of the fact that it continues to offer high interest savings and investment accounts, NO FEE low interest loans, insurance and banking services to its members.