Australian owned bank based in Perth
"P&N" redirects here. For other uses, see
PN.
P&N Bank is a division of Police & Nurses Limited and is an Australian customer-owned bank based in Western Australia. Operating under a mutual model, P&N Bank provides retail banking services such as home loans, savings accounts, and insurance services. The bank has a network of branches throughout Perth and Bunbury
As a customer-owned bank, there are no third-party shareholders.
History
Police & Nurses Credit Society originated in Western Australia in 1990 from the merger of the Police Credit Society of Western Australia Ltd [1] and Western Australia Nurses Credit Society Ltd.[2] In 2001, the organisation merged with Energy Credit Union Ltd,[3] 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.
- 1969: Western Australian Police Union Cooperative Credit Union Society Limited established
- 1972: WA Nurses Credit Society Limited established
- 1981: MTT Salaried Officers Association Credit Union merged with the Police Credit Society and membership was extended to members of the Army, Navy and Air Force
- 1990: Merger of the Police Credit Society and the Nurses Credit Society to Police & Nurses Credit Society
- 2001: Energy Credit Union merged into Police & Nurses Credit Society
- 2013: Police & Nurses Credit Society became a mutual bank trading as P&N Bank
- 2019: Bananacoast Community Credit Union based in Coffs Harbour became a division of Police & Nurses Limited, establishing a national multi-brand organisation with P&N Bank operating in Western Australia and BCU Bank operating in New South Wales and South East Queensland
- 2024: P&N Bank signed a Memorandum of understanding to investigate a potential merger with Beyond Bank Australia,[4] it did not proceed[5]
References
