Police Bank Ltd
 | |
| Mutual Bank | |
| Industry | Financial services |
| Founded | 1964 |
| Headquarters |
Sydney Australia |
Key people |
Bruce Williams, Chief Executive Officer D C Walton, Chairman C J Dyson, Deputy Chairman G R Green, Director Tony Lauer, Director L W Taylor, Director G McKenna, Director R Del Vecchio, Director R Redfern, Director |
| Products |
Banking Investment Insurance Financial Planning Credit Cards Mortgages |
| Total assets |
 A$1.3 billion (2013)[1] |
| Members | 76,470 |
Number of employees | 168 |
| Slogan | Member Owned Banking |
| Website | policebank.com.au |
Police Bank Ltd. (commonly known as 'Police Bank') is an Australian, member-owned mutual bank. Founded as NSW "Police Credit Union"(PCU) on October 24, 1964 by a group of officers from the Clarence Street Police Station in Sydney, its members passed a resolution to enable "Police Credit Union" to become "Police Bank Ltd." on 3 December, 2012.
Police Bank has won several awards for its low fees[2] and superior service.[3] Membership with Police Bank is open to employees and their relatives, as well as friends of the NSW Police Force, Australian Federal Police, Emergency Management Australia, Corrective Services NSW, Australian Courts, or any other area of law enforcement and associated services. Police Bank also offers membership to employees of the Australian Customs and Border Protection Service as well as Australian Quarantine and Inspection Service under their "Customs Bank" subsidiary.
Police Bank is a member of The Customer Owned Banking Association[4] (formerly known as ABACUS Australian Mutuals), the industry body representing the Australian mutual and cooperative banking sector.Police Bank is a Member-owned institution and has no shareholders.
Police Bank is supervised by the Australian Prudential Regulation Authority (APRA) so they maintain operational standards which ensures security of their member's Funds. and is among the 21 Australian-owned banks.[5]
Sponsorship
Police Bank runs a sponsorship program providing financial support to the police community and to charitable sporting organizations.
Police Bank is a major sponsor of the NSW Police Legacy[6] organization, which provides support to the families of deceased and terminally ill police officers. Police Bank also provides NSW Police Legacy financial and corporate support. They are a major sponsor of the NSW Police Games,[7] an annual competitive athletic event incorporating sports from a number of NSW Police Sporting Clubs. Police Bank has funded the events for 13 years.
Awards
| Year | Product/Service | Award | Presenter | Reason |
|---|---|---|---|---|
| 2010 | Visa Credit Card | Gold 5 Stars | Canstar | "Its [sic] outstanding value with a competitive interest rate and low fees.”[8] |
| 2012 | S1 Easy Access Account | Best Non-Bank Everyday Savings Account | Money magazine | "Best account for its nil/low account fees, wide ATM access and the availability to attach other facilities such as a Visa Debit Card, checkbook, direct debits and phone/internet access."[2] |
| 2013 | First Home Saver Account | Best First Home Saver Account Gold Award | Money magazine | "the best account for its nil/low account fees, and high interest paid on savings."[9] |
| Customer Satisfaction (Non-Major Banks) | Blue Award | Canstar | "Police Bank customers most satisfied overall, but are also happier when asked specific questions about Branch Service, Call Centre Service, Internet Banking, Efficiency in Dealing with Enquiries and Friendliness."[3] | |
| Online banking | Best Online Banking – Mutual Bank | Canstar | "increased flexibility... ability for customers to apply for products online and... schedule automatic repayments for credit cards... excellent website resources via secure login.... website is easily navigable and provides calculators, online educational videos... ability to quickly access rates, fees and forms... good social media team.... smartphone-compatible website.”[10] | |
| 2014 | First Home Saver Account | Money magazine | Best First Home Saver Account | "the best account for its nil/low account fees, and high interest paid on savings."[11] |
References
- ↑ Sluiter, A.(2013). Annual Report 2013 (Police Bank Ltd. Annual Reports. ). Sydney : Police Bank Ltd..
- ↑ 2.0 2.1 Walkley, P. (Ed.). (December & January 2011). "Best of The Best: Best Everyday Accounts." Money Magazine, (141), p.94
- ↑ 3.0 3.1 "Challenger Banks – 2013 Ratings." Canstar Blue. Canstar Blue Pty Ltd., 25 March 2013. Web. Retrieved 10 March 2014..
- ↑ "Police Bank Ltd." Customer Owned Banking Association. Customer Owned Banking Association Limited (COBA), 3 March 2013. Web. Retrieved 10 April 2014.
- ↑ "List of Authorized Deposit-taking Institutions." APRA. Australian Prudential Regulation Authority, 2 April 2014. Web. Retrieved 10 April 2014.
- ↑ NSW Police Legacy
- ↑ NSW Police Games Sponsors. March 2013
- ↑ "2011 Credit Card Star Ratings" Cannex Canstar. January 2011. Web. Retrieved 10 April 2014
- ↑ Walkley, P. (Ed.). (December 2012). Best of The Best: Best First Home Saver Accounts. Money Magazine, (152), p. 104
- ↑ "We’re all getting online." Weblog post. Canstar. Canstar Research, 17 June 2013. Web. Retrieved 10 April 2014.
- ↑ Walkley, P. (Ed.). (December 2013 ). "Best of The Best: Best First Home Saver Accounts". Money Magazine, (163), p. 102