Superbank
Encyclopedia
Superbank was a joint venture retail bank in New Zealand
operated by St George Bank in association with the New Zealand grocery retailer Foodstuffs
that operated between 2003 and 2006.
Superbank provided retail transaction banking. Superbank marketed its services through product information leaflets at New World
, Pak'n Save
and Four Square
. Actual banking was done through Internet and phone banking.
The company also provided mortgages via mobile lending managers and also mortgage broker
s.
It was launched in Feb 2003 and lost $40m, having attracted only 2200 customers during the three and a bit years of its operation. It was shut down on September 26, 2006. All its home loan customers were sold to GE Money while all savings customers were offered a transfer to Kiwibank
.
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
operated by St George Bank in association with the New Zealand grocery retailer Foodstuffs
Foodstuffs
Foodstuffs is a group of three New Zealand grocery and liquor retailers' cooperatives based in Auckland, Wellington and Christchurch which collectively control an estimated 57% of the New Zealand grocery market...
that operated between 2003 and 2006.
Superbank provided retail transaction banking. Superbank marketed its services through product information leaflets at New World
New World (supermarket)
New World is a New Zealand full-service supermarket chain owned by the Foodstuffs cooperative.Founded in 1963, New World was the first American-style full-service supermarket brand of Foodstuffs, and the second in New Zealand...
, Pak'n Save
Pak'n Save
Pak'n Save is a New Zealand discount food warehouse chain owned by the Foodstuffs cooperative.Founded in 1985, Pak'n Save was the last of the five current major New Zealand supermarkets to be founded...
and Four Square
Four Square supermarkets
Four Square is a chain of supermarkets in New Zealand. During the 1950s the Foodstuffs advertising department designed the famous "Mr 4 Square" who initially appeared only in newspaper advertising and posters, but was developed to become part of the Four Square identity, appearing in every Four...
. Actual banking was done through Internet and phone banking.
The company also provided mortgages via mobile lending managers and also mortgage broker
Mortgage broker
A mortgage broker acts as an intermediary whose brokers mortgage loans on behalf of individuals or businesses.Traditionally, banks and other lending institutions have sold their own products. However as markets for mortgages have become more competitive, the role of the mortgage broker has become...
s.
It was launched in Feb 2003 and lost $40m, having attracted only 2200 customers during the three and a bit years of its operation. It was shut down on September 26, 2006. All its home loan customers were sold to GE Money while all savings customers were offered a transfer to Kiwibank
Kiwibank
Kiwibank Limited is a wholly owned subsidiary of the state-owned enterprise New Zealand Post Limited. Through Kiwibank, New Zealand Post provides banking services through its PostShops and joint venture Books & More and Papermate outlets throughout New Zealand.The bank was initiated as part of Jim...
.