Established in 1869 in Southland, SBS Bank is believed to be the first building society in the world to have achieved bank registration while retaining its mutual structure. In 150 years, the ‘member bank’ has sustained mutual trust, mutual benefits and mutual respect.
In its Charter, the Southland Building Society states,
“We resolve at all times to serve the interests of our members and promote the prosperity of the communities to which they belong”.
Today, it is this country’s largest building society with 16 branches nationwide, mobile mortgage managers in Auckland and Christchurch and a full online banking service. Mutual ownership means SBS Bank is uniquely positioned to provide benefits to its members, says General Manager Strategy & Marketing, Phil Jamieson.
“As a member-owned bank, when you become a member you become part of SBS Bank. We’re committed to creating a partnership focused on helping members on the journey to financial independence”.
“We want to build mutual trust, mutual benefits and most of all, mutual respect. From a first home to retirement and anything in between, we believe that’s the way banking should be.”
100% Member owned
“We are New Zealand’s member bank, so when you bank with us; we’re with you.”
Celebrating the centenary in 1969.
SBS Bank has attracted many accolades over the years.
One of the mutual’s finest achievements came in 2008, a time when the global financial crisis was creating mayhem in the banking sector. In October of that turbulent year, SBS made history as the world’s first building society to also become a registered bank.
In September (2016) it won the ‘Financial and Banking’ category at the 25th annual TVNZ Marketing Awards. SBS entered as the ‘little bank with big ambitions’, reflecting its journey of a new company vision and strategy.
Launched in November 2015, the strategy was to modernise SBS through a rebrand and simplification of its products to achieve growth and recognition outside of its traditional Southland stronghold.
Cooperative Business NZ Chief Executive Craig Presland paid tribute to the member-focused mutual from the deep south.
“The re-brand launch has been very successful towards SBS becoming a modern, distinctive, vibrant challenger bank which celebrates its proud Southland roots, while achieving growth in key markets like Auckland.”
Craig says the organisation’s longevity and endurance is particularly impressive.
“Our newly appointed Prime Minister and proud Southlander, Bill English, told an audience of Cooperative Business New Zealand Members back in August this year that he believes co-operatives – and mutuals – are ‘the business model that has stood the test of time’.
“Well, our Prime Minister wouldn’t have to go any further than SBS to find a better example.”
Remaining true to its Charter in which the society pledged ‘to promote the prosperity of the communities to which they belong’, SBS Bank this year increased its sponsorship of Ronald McDonald House South Island’s two facilities in Christchurch and Invercargill.
In 2015 RMHSI provided support for more than 1,000 families of sick children across its Christchurch and Invercargill locations. It is well on track to exceed that in 2016 with over 90 percent occupancy of rooms by families almost every night throughout the year. READ MORE HERE.
- SBS Bank is part of the wider SBS Group which also includes FANZ (Funds Administration New Zealand Ltd), Finance Now and Southsure Insurance.