Positive Reaction to New Zealand Internet Banking Service

AUCKLAND, New Zealand – Eleven credit unions down under are now participating in a new Internet banking product that allows their members to go online to do a number of banking services. The service was developed by the New Zealand Association of Credit Unions (NZACU). The new system allows participating credit unions to do their own branding, according NZACU Manager of IS Operations Paul James. “The set-up is very similar to phone banking AccessTeller.T which NZACU offered its members earlier. Credit unions will find that it has a fast page turnover and it is more functional and expandable. Essentially, it equates to huge future potential,” James said. Depending on the services selected, credit unions on the system can allow their members to delete, or amend automatic payments, transfer money to other members or from one account to another. Transfers to other financial institutions or external payments are also available. Constant access for members to their statements is another feature. Statements may also be generated by types of transactions. A member can review all his automated teller activities for a specific period. Members from any of the credit unions participating can log on directly at their credit union’s site or log on from NZACU’s site.