The Co-operative Bank: Most Satisfied Customers Banking Award Winner 2024

Congratulations to The Co-operative Bank! The homegrown bank has done it again, taking home yet another Canstar award. Its latest win brings its 2024 tally of top accolades to four:

• Most Satisfied Customers | Banking Award
• Most Satisfied Customers | Home Loans Award
• Outstanding Value Car Loan Award
• Outstanding Value Personal Loan Award

It’s also worth noting that this is the fourth time in six years that The Co-operative Bank has taken home our Most Satisfied Customers | Banking Award, and the fifth year in a row that banking customers have rated it the winner of our Most Satisfied Customers | Home Loans Award – truly remarkable achievements.

This year for our Most Satisfied Customers | Banking Award, we canvassed the opinions of a cross-section of 4231 Kiwis with bank accounts. To decide which bank offers the best level of customer satisfaction, we asked them to rate their banks’ performances across a range of categories:

And out of the banks in our survey – ANZ, ASB, BNZ, Kiwibank, The Co-operative Bank, TSB Bank and Westpac, there was one clear winner: The Co-operative Bank.

The Co-operative Bank: Winner Most Satisfied Customers | Banking Award 2024

In our award ratings, The Co-operative Bank earns nearly a clean sweep of top 5-Star ratings. Its customers award it 5 Stars across all of the categories listed above except for Fees & Charges, for which the bank earns a great 4-Star rating.

It’s also worth noting that by achieving top ratings across seven categories, The Co-operative Bank achieves more 5-Star ratings than the other six banks in our award ratings combined.

The Co-operative Bank’s high scores sit across all its regular banking products:

Everyday Accounts

• Electronic Account: offers unlimited electronic transactions for a low monthly $5 fee, and exemptions for other charges for minimum balances
• Current Account: no set monthly fee, transfers between Co-operative accounts are free, other fees capped at $10/month
• Smile on Call Account: similar fee structure as Current Account, but with interest earned on balances over $4000

Savings Accounts

• Step Saver: Offers bonus interest rates to encourage savings
• Prize Draw Saver: Every $100 of your average daily account balance each month gives you one entry into a draw to win a car
• Online Account: Basic savings account with single interest rate

Click here for more on The Co-operative Bank's Banking Award win!

The Co-operative Bank: Canstar’s Bank of the Year | Home Loans 2024

The Co-operative Bank has also been rated the nation’s No.1 bank for home loans by Kiwi mortgage holders for the fifth consecutive year.

For this year’s award, we canvassed the opinions of 1333 New Zealanders with home loans, and asked each to rate their lender across the following categories:

We then awarded the home loan lender that achieved the highest Overall Satisfaction Rating our top award. And, once again, the winner was The Co-operative Bank.

Click here for more on The Co-operative Bank's Home Loan Award win!

About the author of this page

This report was written by Canstar’s Editor, Bruce Pitchers. Bruce has three decades’ experience as a journalist and has worked for major media companies in the UK and Australasia, including ACP, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.