Published on 21/08/2023
In a first for Simplicity, we’d like to announce a strategic friendship with First Credit Union.
First Credit Union (FCU) are proudly New Zealand owned and have been helping Kiwis achieve their financial goals for over 65 years.
They’re a cooperative, meaning any profits they make benefit their members, by charging low to no fees and offering better interest rates on loans and savings accounts.
FCU are kindred spirits. Like Simplicity they work hard to provide high quality, low-fee, financial services for New Zealanders. And they share our vision for a better future, where all New Zealanders are wealthier and smarter with money.
Rebel Alliance of Finance
“Individually, social enterprises and nonprofits in New Zealand are meaningful financial organisations in their own right,” said Simon Scott, CEO of First Credit Union. “But there is huge long-term potential in like-minded organisations working together more closely to serve their combined base of loyal and engaged members,” he said.
Under the arrangement, Simplicity and First Credit Union will be introduced to each other’s members, online and in First Credit Union’s branches. The relationship is based on trust and goodwill, with no money changing hands, and no product distribution or financial advice provided.
“We are taking this important first step in getting social enterprises and nonprofits to work closer together, reach out to each other’s members, and highlight that there are real alternatives to the big banks,” said Sam Stubbs, Managing Director of Simplicity. “This is the start of a rebel alliance of finance, and we hope others will join in due course,” he said.
Together, we want to show New Zealanders there is another way to manage your money. Via companies that are here to benefit their members, not profit themselves.
If you are thinking about your personal finance or deposit needs, or just want to know more about FCU, check them out here.