Switch To Police & Nurses
We provide the same products and services as any bank and are governed by the same laws, but the difference is we’re here for the members, not the shareholders. Below are some of the difference between Police & Nurses and a bank.
The differences between Police & Nurses and a bank
Personal, friendly service:
Customer satisfaction levels are a main point of difference between banks and credit societies.
For instance, Police & Nurses’ member satisfaction levels have historically always been high, and are particularly impressive when compared to those of the major banks.
In an independent survey conducted in May 2008, 91% of Police & Nurses members said they were either very satisfied or satisfied with the Society.
This compares favourably to satisfaction ratings amongst bank customers. Research findings released by Roy Morgan in July 2008 indicated an overall decline in satisfaction levels amongst customers of the major banks, with their ratings ranging between 67% and 76%.
Local WA ownership:
Police & Nurses Credit Society is Western Australia’s largest home-grown and locally run financial institution. Unlike the other major banks and financial institutions operating in WA, who are all owned by overseas or eastern states based companies, we are a local WA based organisation. Our head office is based in Perth and all decisions affecting the Society and our members are made locally, with local conditions in mind.
For members, not shareholders:
We continue to provide Western Australians with a true and attractive alternative to the major banks, as our increasing membership demonstrates. We offer our members the security of an Approved Deposit Taking Institution (ADI) and the “fairness” of a mutual. Our profits are not paid out to external shareholders, but reinvested back into the business to benefit our members.
Unlike a publicly listed company, whose main directive is to deliver profits to its shareholders, as a mutual organisation our priority is to deliver financial products and services which benefit our members.
Local call centre:
Unlike many of the major banks, who have outsourced their call centres to operate from overseas, our call centre is based in Perth.
Competitive pricing and fair fees:
Credit societies offer a different kind of banking - one based on member benefit, competitive pricing and fair fees. Because we don’t have to pay dividends to shareholders, we can ensure products and services are designed for members, not shareholders. And, all profits made are reinvested back into the Society.
Community focus:
We’re committed to our local community. We continue to reinvest in community support programs, such as the not-for-profit organisation, Crime Stoppers.
Member focus:
We live our values through our commitment to members, and to reinvest in our members interests and communities.
We also have some similarities to the bank;
Safe & secure:
We’re safe and secure. As a credit society we are categorised and licensed by the Australian Prudential Regulation Authority as an ADI, as are all Australian banks and credit societies. As such, Police & Nurses is subject to the same prudential standards, regulations and supervision as the major banks, and can offer the same high level of security to our members, as a bank can to its customers.
Full service provider:
Credit societies are innovators, with a full suite of sophisticated products to help members manage their finances. We also offer services such as general and health insurance, financial planning, property development, and property settlements.
How do I switch to Police & Nurses?
Thousands of Western Australians switch to Police & Nurses each year. They believe the long term benefits of better service levels and lower fees are worth any short term hassles and exit fees from banks.
- Moving your accounts and home loan to Police & Nurses
To find out how to move your accounts over to Police & Nurses call us on 13 25 77 or visit any Police & Nurses branch. We will discuss your individual banking needs with you and suggest the best combination of services. We can also assist you with the process of closing accounts and moving your home loan.
- Membership request
Simply pop into any Police & Nurses branch and ask a Member Service Consultant, or if you prefer, you can save time by printing a Police & Nurses Membership Request Form, and completing it prior to visiting the branch.
- Switching Accounts
If you already have an account at Police & Nurses, it's easy to move your account from your other Financial Institution. To make things easier we have template letters to help you change your credits and debits from your old account to your new account.
- Credit Letter (use for regular payments like salary and share dividends etc)
- Debit Letter (use for regular payments phone bills and gym membership etc)
Once you've complete the letters for the all your credits and debits on your account, you'll need to send them to the relevant organisation.
For more information about switching your account and changing the credits and debits can be found in our Switching Made Easy Guide.
Find out more
If you're thinking about leaving your bank, you're always welcome at Police & Nurses Credit Society. To find out more enquire online, contact us on 13 25 77 or visit your nearest branch.