SBS

SBS Bank started as the Southland Building Society in 1869 to help everyday New Zealanders realise   their home ownership dreams.In 2008 SBS became the first building society in the world to register as a bank while retaining our mutual status. That means we’re not only regulated by the Reserve Bank of New Zealand (RBNZ), we’re also regulated by the Building Societies Act. When people ask what makes SBS different from other banks, we’re proud to say that as well as being  New Zealand owned, we’re also a ‘mutual’ bank. Being a mutual means SBS is owned by our customers  (our ‘Members’) not shareholders. And because we’re not required to make profits for shareholders,  we can take a Member centric approach to look after our customers and their money, while also offering  very competitive mortgage rates.This approach has taken SBS from being a strong regional identity to an increasingly known and respected New Zealand-wide banking option. While we’re big enough to have the associated economies of scale  and an incredible depth of expertise to provide a wide range of financial services, we’re also small  enough to really care. Every Member is important to us.  Having experienced steady growth over time, SBS Bank now has 14 branches nationwide, and a freephone Contact Centre in our Invercargill Head Office.