Customer Archives

 01 April 2010 - Customer update: Nominations for PSIS Director elections

Please note: PSIS Director nominations for 2010 have closed.

PSIS is a co-operative company, 100% owned by its members, each of whom own one equal share in PSIS. So every member, regardless of age is entitled to nominate candidates for the vacant positions on the PSIS Board of Directors. All nomination forms for the 2010 Director elections are due by 5pm Wednesday 21 April 2010.

Anyone can be nominated as a Director and they don't have to be a PSIS member. However, the nomination form must be signed by five PSIS members, and by the nominee. Once all the nominations have been received all members will get to vote for the candidates of their choice.

If you'd like to be nominated or you’d like to nominate someone, you'll need to complete and send in the following forms by 5pm Wednesday 21 April 2010:

1. Nomination of Director form - please read this form for full instructions on the nomination process. Nomination of Director Form (PDF 165KB)
2. PSIS Director Nominee: Information - remember to attach a CV. Director Nominee Information Form (PDF 92KB)

Our Constitution outlines the way PSIS conducts itself as an organisation. It may be useful to read this when applying to be a Director on the PSIS Board. PSIS Constitution (PDF 72KB)

It's our co-operative status that makes us unique and differentiates us from other financial institutions, as we exist solely for the benefit of our owners - who are our members.

 1 April 2009 - Customer update: Nominating a PSIS Director

Please note: PSIS Director nominations for 2008/9 have closed.

Every customer, young or old, is entitled to nominate candidates for the vacant positions on the PSIS Board of Directors. Anyone can be nominated as Director, they don't have to be a PSIS customer. The nomination form must be signed by five PSIS customers, and by the nominee.

If you'd like to be nominated or you’d like to nominate someone, you’ll need to complete and send in the following forms:

• Nomination of Director form - please read this form for full instructions on the nomination process. Nomination of Director Form (PDF 92KB)
• PSIS Director Nominee: Information - remember to attach a CV. Director Nominee Information Form (PDF 420KB)

Our Constitution outlines the way PSIS conducts itself as an organisation. It may be useful to read this when applying to be a Director on the PSIS Board. PSIS Constitution (PDF 72KB)

 04 September 2006 - PSIS Library Week colouring competition - a chance to win $100!

Please note: This competition has now closed.

PSIS are proud supporters of Library Week 2006 which is organised by LIANZA, the Library and Information Association of New Zealand Aotearoa. Each year during Library Week, there is a mass book reading of a favourite children's book. This year the book "Down the Back of the Chair" by Margaret Mahy will be read on 20 September at libraries and participating schools around the country.

To help celebrate Library Week, PSIS is offering children the chance to win $100 in a PSIS Dollars and Sense Account, just by using their imagination and drawing a picture of the crazy things they find down the back of their chair at home. It could be their cat, a skateboard or even a dinosaur!

To enter, simply click here (PDF 67KB) to download the Colouring Competition entry form, attach it to your child's drawing, then sign and return it to any PSIS branch.

Hurry! Entries close 31 October 2006.

For competition terms and conditions see the entry form or contact any PSIS branch.

 21 March 2006 - Customer update: Nominating a PSIS Director

Please note: PSIS Director nominations for 2006/7 have closed.

Every customer - young or old - is entitled to nominate candidates for the vacant positions on the PSIS Board of Directors. Anyone can be nominated as Director - they don't have to be a PSIS customer. The nomination form must be signed by five PSIS customers, and by the nominee.

If you'd like to be nominated or you would like to nominate someone, you will need to complete and send in the following forms:

1. Nomination of Director form - please read this form for full instructions on the nomination process. Nomination of Director Form (PDF 48KB)
2. PSIS Director Nominee: Information - remember to attach a CV. Director Nominee Information Form (RTF 246KB)

Our Constitution outlines the way PSIS conducts itself as an organisation. It may be useful to read this when applying to be a Director on the PSIS Board. PSIS Constitution (PDF 72KB)

 22 December 2005 - Customer update: PSIS sells head office building

PSIS has sold its head office building, on the corner of Featherston and Ballance Streets in Wellington.

Chief Executive, Dr Girol Karacaoglu, said today: "PSIS is a cooperative and as such our customers are our shareholders, we exist for their benefit and want to maximise the value we can provide to them.

"We recognised with the buoyant property market in Wellington that our building would be worth more to a property investor, who might take the opportunity to develop the asset, than it was to us. Our preference is to focus on our core business - we are not property developers, managers or investors."

PSIS occupies only a third of the building and it was the only remaining property investment held by PSIS, with the last of the branches sold in the late 1990s.

"The value of the building represents less than 2% of our total assets, but its sale will improve our capital adequacy. The risk profile of PSIS will reduce and the proceeds from the sale will be used for funding of our lower-risk core business - providing loans to our customers," Dr Karacaoglu said.

PSIS will continue to base its head office in the building, as the sale was contingent on not only the right price but also on locking PSIS in as a long-term tenant.

 16 November 2005 - Dollars and Sense Colouring Competition - ends 16 December

Please note: This competition has now closed.

Colour and win $100!

Right now your child could win $100 to help them reach their savings goal with our Dollars and Sense Colouring Competition. Simply download the Colouring Competition entry form, pass it onto your child to colour, then sign and return it to any PSIS branch.

 23 May 2005 - Customer update: PSIS Internet Banking makeover

On Monday 23rd May, at approximately 7am, a new look for PSIS Internet Banking will be unveiled.

Although the look will be new, you'll still be able to do everything that you could on the previous Internet Banking pages. There will be a few new features too, including;

• seeing your account balances on every Internet Banking page
• finding your Interbank number for transacting accounts (the 16 digit account number you need to arrange for someone to pay money in or take money from your PSIS account)
• downloading your transactions to a spreadsheet or money management application.

You should also experience faster download times, particularly on dial up connections, and an improved layout when you print your transactions from an Internet Banking page.

If you are using Internet Banking on Monday morning, the system will be unavailable for about 15 minutes while the new site is installed. TXT Banking requests will also be affected during this short period. PSIS apologises for any inconvenience caused.

We hope you like the new look for PSIS Internet Banking. If you have any comments or suggestions about how else we can improve it, please email them to headoffice@psis.co.nz.

 26 April 2005 - Customer update: PSIS Internet Banking gets a makeover

In late May we'll be unveiling a new look for PSIS Internet Banking. We've made the most of the opportunity by changing some things behind the scenes so our web pages will load faster in your browser.

You'll still be able to do everything

Although it will look different, and some of the headings have changed, you'll still be able to do everything you currently do on Internet Banking today, including:

• see your Current Account, savings, Term Deposit, loan, Creditline and Smile on Call account balances
• transfer money between your accounts
• set up a new Term Deposit, or change the maturity instructions of an existing one
• make a payment to another PSIS account, an external bank account or one of our Pre-Registered Payees (most of the companies who send you bills)
• manage your Payee list for Internet Banking and Telephone Banking, including establishing new Payees (if you have this function enabled)
• see, amend and cancel Automatic Payments
• see any Direct Debits loaded on your account
• change your password
• cancel a lost or stolen PSIS card.

There are a few new features too

We appreciate that it may take some time to get used to the new look of our Internet Banking site. To help make this adjustment worthwhile, we've added a couple of extra features. You'll be able to:

• see your account balances on every Internet Banking page
• find the Interbank Number for your transacting accounts - this is the 16 digit account number that you need when arranging for someone to pay money in or take money from your PSIS account
• download your transactions to a spreadsheet or money management application.

You should also see an improved layout when you print your transactions from an Internet Banking page.

We hope you like the new look of PSIS Internet Banking. If you have any comments or feedback, please email us on headoffice@psis.co.nz.

 4 April 2005 - Customer update: Changes to Internet Banking terms and conditions

Revised terms and conditions of use for Internet Banking will come into effect for PSIS customers from 4 May 2005.

The main changes to the terms and conditions are:

• The Password and security and Liability sections have been expanded to add further clarification.
• A new paragraph has been added about the ability for customers to choose whether or not they want to be able to set up new Payees online, and the default $10,000 daily limit for online transactions.
• Information about browser support has been removed (and is already in the Frequently Asked Questions section on the public website).
• The disclaimer about links to other sites from the Internet Banking site has been removed (and will be located in the Disclaimer and Copyright Information section on the public website).
• A section about PSIS's dispute resolution procedure has been added.

We recommend that customers who use Internet Banking read the revised terms and conditions. A full copy can be downloaded here (PDF 37KB).

Should you have any questions about the changes to our terms and conditions, please email headoffice@psis.co.nz or call (04) 495 7700.

 24 March 2005 - Customer update: Nominating a PSIS Director

PSIS is a co-operative where every customer, young and old, owns one equal share in the company. Like being a shareholder in a public company, this entitles customers to take part in the company's democratic processes.

A recent change to PSIS's Constitution, voted for in December last year, enables every customer to nominate candidates for the vacant positions on the PSIS Board of Directors. Anyone can be nominated as a Director - they don't have to be a PSIS customer. The nomination form must be signed by five PSIS customers, and by the nominee. You'll find full instructions on the nomination form.

The next elections are for two vacancies on the Board, and will take place at the Annual Meeting, which is to be held in Wellington on 29 June 2005.

Making a nomination

Please download a nomination form, which includes details of the process (requires Adobe Acrobat). We'll need to receive your nomination by 13 April 2005.

Nomination of Director form (PDF 35KB)

If you would like us to send you a copy of the form, please call 0800 287 747, email headoffice@psis.co.nz, or contact any PSIS branch.

 16 December 2004 - Customer update: PSIS Constitution Changes passed at Special Meeting

A Special Meeting to vote on a proposed revised PSIS Constitution was held on 15 December 2004 in Wellington.

In the years since PSIS started in 1928, our organisation and the services we provide have developed in response to the changing needs of our customers and the environment we operate in. This update of the Constitution, which outlines the way we conduct ourself as an organisation, was undertaken so that it more accurately reflects PSIS as it is today.

The following resolutions were passed:

New Constitution adopted

"The Constitution of the Company be altered by replacing the existing Constitution in its entirety with a new Constitution (which has been approved by the Board for consideration by the shareholders), and that the directors and officers of the Company be severally authorised to do all such acts or things as are necessary to give effect to this resolution."

Existing Directors remain in post

"The persons holding office as Directors of the Company on alteration of this Constitution, continue in office and are deemed to have been appointed as Directors pursuant to this Constitution, but shall be subject to the requirements of clause 19.4 relating to the rotation of Directors."

Remuneration agreed for Electoral Authority

"The initial remuneration for each of the members of the Electoral Authority contemplated by the new Constitution is set at a sum not exceeding $3,000 (plus GST, if appropriate) per year."

PSIS is a co-operative company, where every customer owns a single non-transferable share. The Board of Directors would like to thank all shareholders who voted either by attending the meeting or sending in a proxy vote.

 19 November 2004 - Customer update: Changes to PSIS Constitution

The Constitution for PSIS, which outlines the way we conduct ourself as an organisation, has recently been reviewed by the Board of Directors. It has not been updated for some time, and the Board has proposed changes to make it more accurately reflect PSIS today.

A Special General Meeting to vote on the proposed Constitution will be held on 15 December 2004.

The meeting starts at 5pm at The Wellesley, 2-8 Maginnity St, Wellington. All PSIS customers are members of the co-operative company, each holding one non-transferable share, and have the right to vote either by attending the meeting or by proxy.

What is changing?

The main changes are to do with the nomination and election of Board members. These changes are intended to make the process of appointing Directors more democratic.

Currently, half of the Directors are appointed and half are elected by PSIS members following nomination by service organisations. PSIS members cannot currently nominate a Director.

Under the proposed Constitution, all Directors must be nominated and elected by members, and they must retire or stand for re-election after three years. Nomination of new Directors will be open to all members.

To ensure there are suitable candidates to choose from, an Electoral Authority will be established to review all nominations and ensure that appointees have the competencies required at Board level. Details of those nominees will then be circulated to members for a postal vote prior to the Annual General Meeting each year.

More information

To help you understand the changes in more detail, you can download the following documents:

The full proposed constitution (PDF 72KB)

The existing constitution with the proposed changes marked in red (PDF 106KB)

A summary of the changes (PDF 84KB), which was posted to all PSIS customers with the November edition of Our News.

If you would like us to send you a printed copy of the marked up Constitution call 0800 287 747, write to us at Freepost 106, PO Box 54, Wellington, e-mail headoffice@psis.co.nz, or visit any PSIS branch.

 23 August 2004 - Internet Banking customer update - Changes to Bill Payments

Technology developments like the Internet have changed the way we manage our lives, but have also offered new opportunities for fraudsters. PSIS has introduced two new features to Internet Banking, to limit the risks associated with using the online service.

Because online services like Internet Banking have extremely robust security, most recent scams have been focussed on obtaining customers' login details, which can be done in a number of ways. The main area of risk is associated with a fraudster accessing a customer's Internet Banking and making a Bill Payment to an external bank account. PSIS has not been a target for any scams, however we want to be proactive in this area to minimise any risks. Information on recent scams used to obtain login details can be found on http://www.antiphishing.org.

At PSIS we know that many of our customers enjoy the flexibility and convenience of Internet Banking, so we've made some improvements to the way the Bill Payments function works.

We're introducing a daily Bill Payments threshold. From 23 August 2004, Internet Banking users will have a default $10,000 limit on the amount that can be transferred out of their accounts each day using the Bill Payments function. Customers can nominate a lower daily threshold to further minimise the risk - for example, if all you ever pay is household bills, you may feel more comfortable with a lower daily limit of a few hundred dollars.

The establish bill payees function can be disabled. Currently you can Establish Bill Payees online using Internet Banking, either by selecting a pre-registered payee (such as utility companies, insurance providers and credit cards) or by entering a known external bank account number. You can choose to turn off the Establish Bill Payee function from your Internet Banking profile altogether, so that if anyone fraudulently obtained your login details, they could not establish an external account to transfer money out to. If you choose this option it will also disable your ability to transfer funds to another PSIS customer's account (this too has been identified as a possible area of fraud). Disabling the Establish Bill Payee function is a sensible option to consider if you have any doubts about the security of the computers you use to access Internet Banking.

Bill payees can still be established by your branch. To turn the Establish Bill Payee function back on after it has been disabled, you will need to advise your branch in writing.

Important information for users of Bill Payments

• If you are a registered Internet Banking user, your daily default limit for making Bill Payments will be set to $10,000 from August 23rd 2004. This includes transfers to other PSIS customer accounts. You will still be able to transfer funds in excess of $10,000 using PSIS' Telephone Banking facility.
• If you have established, amended or deleted a bill payee online using Internet Banking in the past 12 months, you will continue to be able to do so.
• If you have not established a bill payee online using Internet Banking in the past 12 months, this function will be automatically disabled on August 23rd 2004. If you want to re-establish this function, please advise your branch in writing.

If you regularly make payments totalling more than $10,000 per day, talk to your branch about alternative methods of payment. Your branch can arrange a External Transfer Withdrawal (ETW) which is an electronic payment to an external bank account.

To disable the Establish Bill Payee function at any time or specify a lower daily bill payment threshold, simply call, visit or email your branch.

If these changes to the Bill Payments function cause any inconvenience, we apologise. We feel this is a sensible action to take to minimise the risk of fraud - both to you and to PSIS. For more information, please contact your branch.

 1 July 2004 - Internet Banking security update - Internet Explorer vulnerability

PSIS is aware of recent scams exploiting a vulnerability in the Internet Explorer browser. While we do not want customers to worry unnecessarily, we do believe customers who use Internet Explorer for Internet Banking or other activities should know about the problem.

The PSIS website has not been a target for this scam.

Like many recent internet scams, this one involves compromising users to obtain their login details, rather than attacking the internet banking site itself.

This time fraudsters are using a known vulnerability in Internet Explorer to retrieve a user's login information without the user realising. Because it works from within an infected computer, it can capture login information before it is encrypted.

Microsoft has not yet released a solution for Internet Explorer and we recommend anyone using Internet Explorer to keep an eye on developments.

This vulnerability doesn't affect Macintosh users or users of other browsers.

5 August update:

Microsoft has released a software 'patch' to fix this Internet Explorer vulnerability. It can be installed by running 'Windows Update' to download the latest updates. Further information can be found on Microsoft's website.

 21 April 2004 - Internet Banking and Security

Recently a couple of New Zealand based banks have been targeted by email scams, which are designed to get hold of sensitive information such as log on details for internet banking. Most scams involve the fraudsters setting up a false website to look like the bank's own one, and directing customers (usually via a 'spam' e-mail) to log on. The fraudsters then use the details to log on to the real site, and make transactions in the customer's account such as transferring funds out.

Has PSIS been affected?

PSIS has never been affected by internet banking scams or email fraud, and we take online security extremely seriously. Our Internet Banking site uses secure servers to protect your details while you are online. You'll notice that when you are in the Internet Banking part of our website, the address starts with "https:", rather than the usual "http:", and that a padlock appears in the bottom right hand corner of your screen. This shows that you have established a secure encrypted session to your banking information.

We won't ever ask you for your password

PSIS will never request your Internet Banking login details from you via e-mail or telephone. Normal internet e-mail (such as Microsoft Outlook) is not a secure facility and should not be used to communicate sensitive information with PSIS such as account details.

Tips to keep your Internet Banking secure

• Don't access your accounts from public computers (e.g. in libraries or internet cafés), as you cannot be sure about their security standards.
• Don't tell anyone what your Internet Banking password is. Treat it with the same care you would for the PIN number for your PSIS card.
• Always access the PSIS website by typing in the address www.psis.co.nz. You can bookmark it under your 'Favourites' folder in your browser. Never follow an e-mail link to the site.
• Always log off when you finish your Internet Banking session by clicking "Exit" on the left of the screen. You will be automatically logged off after 10 minutes of inactivity, however you should always make sure you log off before you leave your computer.
• Change your password regularly. To do this, log on to Internet Banking, and go to the 'Personalisation' page.
• If you think you may have given someone else your password by mistake, change your internet banking password immediately, and talk to your branch if you have further concerns.
• Make sure you have security software for your computer, such as an antivirus program, and keep it up to date.

If you have further questions about Internet Banking, visit the Help with Internet Banking section of our website (you'll find it in the Contact Us section) or call your local PSIS branch.

Company Updates Archives

PSIS news, media releases and updates from the CEO prior to 2007.

PSIS on the Community Archives

PSIS involvement in the local community prior to 2007.

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