The Co-operative Bank shares $2.1 million profit with customers

Move reflects the firm’s ongoing commitment to “doing right” by Kiwis

The Co-operative Bank shares $2.1 million profit with customers

The Co-operative Bank has announced that over 115,000 of its New Zealand customers will receive a welcomed addition to their bank accounts as part of its annual rebates pay out.

According The Co-operative Bank, it is sharing $2.1 million in annual rebates. Since 2013, it has shared more than $12 million in annual rebate with customers. The move is part of the bank’s ongoing commitment to “doing right” by New Zealanders, and its recent brand refresh to reflect how as a Co-operative, it can be a little “unbanky”.

“Our customers are at the heart of The Co-operative Bank, in fact, they own it,” The Co-operative Bank CEO David Cunningham said. “Sharing our success with the people that help us grow is not only the right thing to do, it also brings us joy to give back to New Zealanders and local communities nationwide.”

“It’s important for us to stay connected, approachable and relevant to our incredible customer community,” he noted.

Cunningham described The Co-operative Bank’s bold new brand as a better reflection of its core values, bringing to life its passion for making people’s everyday lives easier.

“As the only bank in New Zealand to share its profits with customers, we’re proud to continue to do right by Kiwis,” he added.

The remainder of the bank’s annual profit is reinvested to fund continued growth, and to develop new products and services.