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Immediate response to New Zealand CU Internet banking service

WELLINGTON, New Zealand - When Police and Families Credit Union (PFCU) launched its online banking service called AccessOnline this month, 260 members used it in the first day. The response continues to grow. The new service allows members to check accounts, transfer funds between their accounts and family members' accounts,...

By Staff Writer | Updated on August 14, 2001

WELLINGTON, New Zealand – When Police and Families Credit Union (PFCU) launched its online banking service called AccessOnline this month, 260 members used it in the first day. The response continues to grow. The new service allows members to check accounts, transfer funds between their accounts and family members’ accounts, pay bills on line, download forms, view automatic payments and more. The software to operate this program was provided by the New Zealand Association of Credit Unions (NZACU) which PFCU joined this past March. Without the connection the credit union would not have been able to provide the service to its 15,500 members. Prior to joining NZACU, the credit union used Ultradata software. General Manager Brian Sprowell said, “The decision to go over to the NZACU computer bureau was easy as it provided us with the opportunity to outsource our IT requirements. It also gave us Internet banking at an affordable cost, as well as other service benefits.” The new service for this and other credit union products have been advertised in the Police Association newsletter, which is delivered to over 11,000 homes each month. Most credit union members receive the newsletter, making it an excellent channel for credit union information. It supplements PFCU’s newsletter which is sent three times each year. Sprowell said PFCU is the sixth credit union in New Zealand to offer AcessOnline. PFCU has total assets of $30.4 million with 13 staff operating out of the Wellington office. Because they service all the police forces in the country, an effective branch network would be cost prohibitive. -

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