Two Canstar awards for personal loans

5-star rating - we did it again!

Posted December 2017

canstar logos

Media release

One of New Zealand’s largest credit unions, NZCU Baywide, has been rated as an “outstanding value” lender by Canstar for both its secured and unsecured personal and car loans.

It is the second year in a row the Credit Union has been recognised for its secured and unsecured personal loans and shows NZCU Baywide’s ongoing leadership in the lending market. 

This year it has been voted as a top-rated product provider after 53 loan products from 10 providers were assessed by Canstar, New Zealand and Australia’s only fully interactive research service in retail and business finance. This compares to 30 loan products being judged in 2016.

NZCU Baywide GM Sales, Marketing and Channels, Andrew Quayle says the awards show real  consistency of value for customers and the understanding the Credit Union has about what New Zealanders want from lending.

“We are delighted with this achievement especially in that the number of loan products being scrutinised went up by 75% this year and we still came out on top,” he says.

“As a credit union, we are owned by our customers so it’s very pleasing to be able to show them our products are some of the best on offer.

“And while our network of 16 branches is spread across the Central and Lower North Island, and is complemented by a successful and growing national online presence, these awards show how the regions can give the national big budget banks and other finance companies a run for their money.”

Canstar’s top rating 5-star award indicates the awarded product is in the top 10 per cent of its category. Its methodology supports it as the most comprehensive and respected financial awards in New Zealand. It compares all types of loans both in the secured and unsecured category, across a wide range of attributes and characteristics.

NZCU Baywide has been awarded a 5-star rating across four products in total.

Mr Quayle went on to highlight the importance of the awards at this time of year:

“Lending plays a vital role for Kiwis managing their finances, so it’s important to have the best value products to help when there’s a need,” he says, “and December itself always brings a growth in lending as people make plans for holidays with family and friends.

“These awards recognise the hard work of everyone at NZCU Baywide whose job it is to spend time with people, and listen and provide solutions, whether it’s face to face, on the phone or online. 

“A growing part of this is our ongoing investment in technology so we can serve customers better by making it simpler to apply for a loan or savings account via mobile, tablet or desktop device.   

“We see ourselves as locals supporting locals, a real person to person financial service and the original model of people-to-people lending,” he says.

NZCU Baywide was established in 1971 but the concept of the Credit Union has been in existence for over 150 years and is the original person-to-person financial service, despite all the focus recently on newcomers to the market. 

In July 2017, NZCU Baywide received the same 5-star rating from Canstar for its online saver account, the third year in a row it had achieved this status and an indication of its consistent focus on providing value across its total product range.

For more information please contact NZCU Baywide GM Sales, Marketing and Channels Andrew Quayle 027 501 5112  

The article published on this page is not financial advice and should not be relied upon as such. The opinions published in this article is not those of Unity Credit Union.