15/03/2012 - 13:30

Police & Nurses reveals re-branding plan

15/03/2012 - 13:30


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Police & Nurses reveals re-branding plan
Fred Huis says he is confident members will understand the benefits of the re-branding plan.

Police & Nurses Credit Society is in discussions with the Australian Prudential Regulation Authority and its members to change its name to P&N Bank.

Chief executive Fred Huis said the proposal to rebrand had been largely driven by recent federal government reforms, which would allow credit and building societies to call themselves banks.

Mr Huis said Police & Nurses aimed to become the only Western Australia-based and member-owned bank in the state.

“If we are successful in adopting a bank name we will be a very different type of bank, one that is owned by its members and run solely for their benefit,” Mr Huis said.

“Importantly, we have no intention of changing the business model to that of a publicly listed bank and will remain a member-owned banking organisation.”

Mr Huis said there was no set timetable in place for the rebranding proposal, which must gain regulatory approval from APRA and member approval before it can go ahead.

“We have written to our members to seek their thoughts on a name change, and will be holding information sessions over the coming months to discuss what this important change means for our organisation,” he said.

A name change requires the approval of 75 per cent of Police & Nurses' shareholding members, and members will vote on the change at a special general meeting in April. 


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