P&N Bank
 WA's member owned bank | |
Native name | Police & Nurses Limited |
|---|---|
| Company type | Credit Union |
| Industry | Banking |
| Headquarters | , |
Key people | Andrew Hadley (CEO) Paul Gabb (Chairman) |
| Products | Retail banking Insurance Financial Planning |
| Owner | Members |
Number of employees | 301 |
| Website | pnbank |
P&N Bank is the largest bank owned and 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 17 branches in Western Australia, P&N Bank also has a Perth based Contact centre, online banking facilities and is part of the national rediATM network. 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. P&N Bank is also the membership sponsor 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.
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
In 2013 P&N Bank took out the inaugural Pinnacle Award for Marketing Excellence [6] for their re-brand to a Bank.
P&N Bank was awarded the Bank of the Year in the 2014 Roy Morgan Customer Satisfaction Awards [7]