Job losses at Credit Union South

Credit Union South will close its branches in Greymouth, Timaru, Oamaru and Gore by the end of the month. Photo / Allied Press

Eighteen jobs will be lost across the lower South Island as Credit Union South confirms restructuring, with customer branch-use dwindling and increased on-line patronage.
The restructuring was announced in early-February, and chief executive Tania Dickie today confirmed the lob losses and branch closures, which would be completed by mid-April.

"Where ever possible we will try to find positions for staff in new customer services roles being created in Dunedin, Christchurch and Invercargill,'' she said in a statement today.

The credit union employed 95 staff, before the restructuring.

Credit Union South will close its branches in Greymouth, Timaru, Oamaru and Gore by the end of the month, quit its money coaching service and lose some customer service roles in Dunedin and Nelson and consolidate its two Christchurch branches into one.

However, eight new customer or sales roles would be created in Dunedin, Christchurch and Invercargill and the company hoped to retain the Richmond branch rather than move to the Nelson site, which had been proposed during consultation, she said.

ATMs would continue to operate in Greymouth, Hornby, Timaru, Oamaru and Gore. Trading as NZCU South, the co-operative is entirely New Zealand-owned and is the third largest credit union in the country, with 22,000 members.

Customer trends showed just one member per hour, per staff member, went into the credit union's branch network and in the previous year about 200,000 online banking transactions were made, either by internet, mobile banking or telephone banking.