Public register of licensed NBDTs

Last updated: 29 May 2019

Name of licensed NBDT	Date licensed	Name of credit rating agency	Rating and outlook
Aotearoa Credit Union**	16-03-2015	n/a	Exempt*
Asset Finance Limited	11-03-2015	Standard & Poor’s	B-, Stable
Christian Savings Limited (previously licensed as Christian Savings Incorporated)	01-09-2017	Fitch Ratings	BB, Stable
Credit Union Auckland	03-02-2015	n/a	Exempt*
Credit Union Baywide	19-12-2014	Fitch Ratings	BB, Stable
Credit Union Central**	05-02-2015	n/a	Exempt*
Credit Union South**	13-02-2015	Fitch Ratings	BB, Stable
FE Investments Limited	16-03-2015	Standard & Poor’s	B, Negative
Finance Direct Limited	13-02-2015	n/a	Exempt*
First Credit Union	05-03-2015	Fitch Ratings	BB, Stable
Fisher & Paykel Credit Union	08-12-2014	n/a	Exempt*
General Finance Limited	13-02-2015	n/a	Exempt*
Gold Band Finance Limited	29-04-2015	n/a	Exempt*
Heretaunga Building Society	23-12-2014	n/a	Exempt*
Liberty Financial Limited	17-04-2015	Standard & Poor’s	BBB-, Stable
Mutual Credit Finance Limited	27-03-2015	n/a	Exempt*
Nelson Building Society	23-03-2015	Fitch Ratings	BB+, Negative
New Zealand Employees Credit Union	22-12-2014	n/a	Exempt*
New Zealand Firefighters Credit Union	17-04-2015	n/a	Exempt*
Police and Families Credit Union	12-11-2014	Equifax	BBB, Stable
Steelsands Credit Union	05-11-2014	n/a	Exempt*
UDC Finance Limited	02-03-2015	Standard & Poor’s	BBB, Positive
Wairarapa Building Society	08-04-2015	Fitch Ratings	BB+, Stable
Westforce Credit Union	24-12-2014	n/a	Exempt*

* Not required to have a rating by virtue of the Deposit Takers (Credit Ratings Minimum Threshold) Exemption Notice 2016

**Aotearoa Credit Union, Credit Union Central and Credit Union South have now transferred their engagements (merged with) to Credit Union Baywide.

NBDTs news & updates

Nov 2018 NBDTs

Non-bank Deposit Taker licence cancelled
The Reserve Bank gives notice that the Non-bank Deposit Takers licence granted to Caxton Employees Credit Union on 8 December 2014 was cancelled on 30 November 2018 pursuant to section 21(f) of the Non-bank Deposit Takers Act 2013 following its transfer of engagements to Credit Union Central, and its subsequent removal from the Register of Credit Unions.

Mar 2018 NBDTs

Non-bank Deposit Taker licence cancelled
Fisher & Paykel Finance Limited has requested that the Reserve Bank of New Zealand (RBNZ) cancel its licence to be a non-bank deposit taker (NBDT) granted under the Non-Bank Deposit Takers Act 2013. RBNZ is satisfied that Fisher & Paykel Finance Limited is no longer making NBDT regulated offers of debt securities and no longer has debt securities that remain unpaid that were offered under an NBDT regulated offer. Having satisfied itself of these matters, RBNZ gives notice that the NBDT licence granted to Fisher & Paykel Finance Limited on 19 December 2014 was cancelled on 16 March 2018 under section 21(h) of the Non-bank Deposit Takers Act 2013.

Sep 2017 NBDTs

Non-bank Deposit Taker licence cancelled
Christian Savings Incorporated has requested that the Reserve Bank of New Zealand cancel its licence as a non-bank deposit taker granted under the Non-bank Deposit Takers Act 2013 because it has transferred its business to Christian Savings Limited, a newly licenced NBDT. The Reserve Bank is satisfied that Christian Savings Incorporated is no longer making NBDT regulated offers of debt securities and no longer has debt securities that were offered under an NBDT regulated offer. Having satisfied itself of these matters, the Reserve Bank gives notice that the NBDT licence granted to Christian Savings Incorporated on 26 January 2015 was cancelled on 27 September 2017 pursuant to section 21(h) of the Non-bank Deposit Takers Act 2013.

Jul 2017 NBDTs

Non-bank Deposit Taker licence cancelled
Nelson Enterprise Loan Trust has notified the Reserve Bank of New Zealand that it is no longer an NBDT under the Non-bank Deposit Takers Act 2013. The Reserve Bank is satisfied that Nelson Enterprise Loan Trust is no longer making NBDT regulated offers of debt securities and no longer has debt securities that remain unpaid that were offered under an NBDT regulated offer. Having satisfied itself of these matters, the Reserve Bank gives notice that the NBDT licence granted to Nelson Enterprise Loan Trust on 30 April 2015 was cancelled on 1 July 2017 pursuant to section 21(e) of the Non-bank Deposit Takers 2013.

Dec 2016 NBDTs

Non-bank Deposit Taker licence cancelled
Napier Building Society (Permanent) has requested that the Reserve Bank of New Zealand cancel its licence as a non-bank deposit taker granted under the Non-bank Deposit Takers Act 2013. The Reserve Bank is satisfied that Napier Building Society (Permanent) is no longer making NBDT regulated offers of debt securities and no longer has debt securities that remain unpaid that were offered under an NBDT regulated offer. Having satisfied itself of these matters, the Reserve Bank gives notice that the NBDT licence granted to Napier Building Society (Permanent) on 23 December 2014 was cancelled on 16 December 2016 pursuant to section 21(h) of the Non-bank Deposit Takers Act 2013.

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