NZ Everyday Investor

Co-ops and Kiwi banks - David Cunningham

Episode Summary

Co-ops and Kiwi banks - how can a co-operative banking structure create more wealth for the everyday Kiwi. David Cunningham, CEO of The Co-operative Bank is on the NZ Everyday Investor today.

Episode Notes

Co-ops and Kiwi banks - how can a co-operative banking structure create more wealth for the everyday Kiwi.

David Cunningham, CEO of The Cooperative Bank is on the NZ Everyday Investor today to discuss:

How do cooperatives work, especially in the banking world?

The Royal Commission of Inquiry into Banking Misconduct.

Capital Reserve requirements (what is it and why do banks care)?

The role technology plays in transforming a relatively 'old school' sector.

The Co-operative Bank has a few unique points of difference - for example:

- When you join, you're a shareholder, and you get a share of their profits (directly).

-Kids, when you open an account for them, earn 4% (not up to 4% under rare circumstances) up to balances of $4k.

Check out some of their YouTube videos here:

https://youtu.be/wT9UwD6vOBs - youth savings

https://youtu.be/aaVYr0376VY – rebates

https://youtu.be/oR_CWq2K1lM - Fair Rate Credit Card

 

Where to find Darcy Ungaro:

Ungaro &Co (registered) financial advisers https://www.ungaro.co.nz

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