Minister Surprises Not-For-Profit and Banking Sectors’ Audience

Last night the Hon. David Parker surprised launch attendees by asking Minister of Consumer Affairs to also address the audience at Community Networks Aotearoa’s launch of the ‘Better Banking’ report. Minister Parker acknowledged the importance of the report, and that that was shown by the attendance of so many MPs at a pre-election event. 

Minister Duncan Webb also spoke to the importance of this research and how it will help the Sector considering the upcoming Commerce Commission investigation of banks.  Both Ministers praised the work of CNA, the quality of the research, and how it brings to light mahi that can be ‘nudged along’ by Government. Both spoke highly of how impactful the reports finding and recommendations on the Banking sector can be. 

The research, a first of its kind in Aotearoa New Zealand, shed light on the significant challenges faced by small to mid-sized Not-for-Profit organisations when dealing with banks. It aimed to explore potential strategies for improving banking services and addressing the specific needs of community organisations, allowing them to focus more on their valuable work. 

The research was conducted through a sector-wide online survey and in-depth interviews with representatives from diverse community organisations across Aotearoa. It achieved its key objectives of identifying challenges, assessing their impact, and collaborating with stakeholders to find solutions. 

Ros Rice, Executive Officer for Community Networks Aotearoa, emphasized the importance of this research, stating,

"This research is an extremely important milestone towards bringing about positive change in the banking experiences of Not-for-Profit organisations. By collaborating with the Government and the banking sector, we can identify solutions that will enable community organisations to focus on their core missions and maximize their impact on the communities they serve." 

Community Networks Aotearoa has engaged in discussions with various stakeholders, including the Banking Ombudsman, Aotearoa/New Zealand Banks, the National Association of Bankers, Consumer NZ, The Commerce Commission, CAB NZ, Digital Identity NZ, and the Reserve Bank, among others. Furthermore, CNA is collaborating with the Ministry of Justice to address these issues and drive meaningful change that will benefit all Not-For-Profit organisations across Aotearoa. 

The research project was made possible by the generous support of the JR McKenzie Trust and the Todd Foundation. Economic Anthropologist, Dr. Jane Horan, led the research team, ensuring rigorous analysis and comprehensive insights. 

For more information about the "Better Banking for All" research project, please visit our banking page.