P&N Bank

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"P&N" redirects here. For other uses, see PN.
P&N Bank
Native name
Police & Nurses Limited
Type
IndustryBanking
Headquarters
Perth
,
Australia
Key people
Andrew Hadley (CEO)
Stephen Targett (Chairman)
ProductsRetail banking
Insurance
Financial Planning
OwnerMembers
Number of employees
330
Websitepnbank.com.au

P&N Bank is a division of Police & Nurses Limited and an Australian owned bank managed in Western Australia. Operating under a mutual model, P&N Bank provides retail banking services such as savings and lending products, insurance and financial planning services. With a branch network of 15 branches in Western Australia, P&N Bank also has a Perth based Contact centre, online banking facilities and is partnered with Cuscal, and is a provider of access to the New Payments Platform (NPP). As a mutual bank there are no third party shareholders, as distinct from a listed company, members who bank with P&N Bank and hold a share in Police & Nurses Limited are the owners of the Bank. P&N Bank is a member of COBA,[1] the industry body that represents the credit unions, building societies and mutual banks in Australia and BCCM (Bureau of Credit Unions, Co-operatives and Mutuals). P&N Bank is one of the majors sponsors of the Perth Wildcats.[2]

History[]

Police & Nurses Credit Society originated in Western Australia in 1990 from the merger of the Police Credit Society of Western Australia Ltd [3] and Western Australia Nurses Credit Society Ltd.[4] In 2001, the organisation merged with Energy Credit Union Ltd,[5] which was the amalgamation of a number of smaller WA credit unions, the oldest of which was established in 1949. Around 15 credit unions make up P&N Bank’s history.

  • 1969 - Western Australian Police Union Cooperative Credit Union Society Limited established
  • 1972 - WA Nurses Credit Society Limited established
  • 1981 - MTT Salaried Officers Association Credit Union merged with the Police Credit Society and membership was extended to members of the Army, Navy and Air Force
  • 1990 - Merger of the Police Credit Society and the Nurses Credit Society to Police & Nurses Credit Society
  • 2001 - Energy Credit Union merged into Police & Nurses Credit Society
  • 2013 - Members vote to rebrand Police & Nurses Credit Union to P&N Bank*
  • 2019 - bcu became a division of Police & Nurses Limited, establishing a national multi-brand organisation with P&N Bank operating in Western Australia and bcu operating in NSW and south eastern Queensland.

In March 2013, after obtaining regulator approval, Police & Nurses Credit Society became a mutual bank trading as P&N Bank.

Corporate governance[]

The P&N Bank Board of Directors is responsible for the Corporate Governance of P&N and its controlled entities. The Board manages the business in accordance with its policies, legislation, APRA prudential requirements and the Constitution of P&N. To ensure the Board can fulfil its responsibilities and comply with policies and ethical standards, a Code of Conduct and Board Charter are in place.

Awards and recognition[]

  • 2013 - P&N Bank took out the inaugural Pinnacle Award for Marketing Excellence [6] for their re-brand to a Bank.

See also[]

References[]

  1. ^ COBA
  2. ^ "Members Sponsor". Perth Wildcats.
  3. ^ Police Credit Society of Western Australia Ltd
  4. ^ Western Australia Nurses Credit Society Ltd
  5. ^ Energy Credit Union Ltd
  6. ^ Pinnacle Award for Marketing Excellence Archived 22 October 2014 at the Wayback Machine
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