Kiwibank

Kiwibank has established clear strategic thinking in its sustainability focus and has strived to uphold an ethical banking system for New Zealanders.

The bank has exhibited strong social responsibility in its determination to assist customers in managing their financial circumstances.  Its distribution model, via the New Zealand Post retail network, has meant that it has developed good local community connections.

Internally, Kiwibank has introduced varied staff programmes – employees are very well supported across the spectrum of cultural, professional development, family and social needs.

The challenge

To continuously build on the founding concept behind the brand’s values and belief system, so that an ethical, straightforward banking option is offered to every New Zealander in a sustainable manner. 

Some responses

• In 2008, New Zealand Post Group (including Kiwibank) set a target to reduce greenhouse gas (GHG/CO2) emissions by 12% by 2012. In addition, its aim is to increase fuel efficiency (litres per kilometre) by 8% by 2010 from its baseline result at June 2008.
• Paper Reduction Project – in January 2009, Kiwibank began recording all of its paper usage, both by weight and environmental impact.  Some initiatives instigated to support this project are as follows:
  • ‘Stop my statements’ – Kiwibank encourages customers to receive monthly statements electronically.
  • Marketing collateral rationalisation – during 2008/2009 Kiwibank’s marketing team and product managers identified which paper-based brochures and forms could be combined, thus reducing the amount of paper used. 
  • Embedding a culture which promotes staff support and development via a number of initiatives including:
    • Providing staff wellness assessments
    • Leadership training
    • Team sports
    • Providing ongoing training opportunities.
    • Kiwibank is the only bank in about 40 communities around New Zealand.  In Bluff and Oxford Kiwibank has set up cooperative ventures with local councils to operate PostShop and Kiwibank franchises.
    • The Art of Banking – staff use their artistic skills to create paintings, murals, sculpture and photographs to decorate meeting rooms and office spaces.

The results

• As a result of applying a new lower emission vehicle selection scheme, the CO2 emissions for vehicles alone are expected to be reduced by approximately 23.5% in the first year.
• As of June 2009, 31% of its customers receive electronic statements online.  Kiwibank’s target is 40% by June 2010.  This has resulted in significant savings in paper and postage costs.
• To date, nine printed marketing collateral products have been combined, resulting in a reduction to three printed products.  Associated costs and environmental impacts have been reduced.
• Kiwibank and NZ Post supports the sustainability of small communities by providing essential banking and postal services
• The benefits of providing a positive staff environment include high staff engagement, ownership of brand values, development of entry-level staff to senior management levels and an enthusiasm to be involved in Kiwibank initiatives.

Central/Southern Awards judges' comments

• Kiwibank has been very strategic in its thinking; the business has thought through its plans very carefully. 
• It has a strong community connection.
• It provides an ethical banking system and has a strong sense of social responsibility – it engages with customers to assist with debt lowering.
• It has implemented a large number of staff programmes – staff are very well supported.