Your Financial Institution owned by "You"



NZCU Steelsands is 100% NZ Owned financial co-operative.

Steelsands Credit Union (trading as NZCU Steelsands) is an industrial based Credit Union first registered in 1978 under the Friendly Societies Act 1982. Its Head Office is based at NZ Steel Limited at Glenbrook.  Steelsands operates 4 branches, all of which are situated at secure industrial sites.  NZCU Marsden merged on 1st July 2009, based at Refining NZ at Marsden Point.  NZCU NZME merged on 1 January 2010, which operates from the Glenbrook office. NZCU Alliance merged 1st October 2016 and is based at the Alliance Group Lorneville Meat Processing Plant, near Invercargill.

Our ultimate responsibly is to our members.  Our funds are sourced from the communities we serve.


Historical Events

1978 Steelsands Credit Union was formed in June 1789.  Membership was restricted to employees of NZ Steel Ltd.
1990 Gladys O'Connor appointed  General Manager of Steelsands until 2002
2002 Rhonda Clare appointed General Manager of Steelsands until 2014
2003 Celebrated 25 years with shares of 7.7 million
2004 ATM installed onsite at NZ Steel Ltd with move to new office
2005 June - Celebrated significant milestone - $10 million in Assets
2005 June - Celebrated significant milestones - $1 million in Income
2007 Changed name from Steelsands Credit Union to NZCU Steelsands when became part of the NZCU Group
2008 April - Agency for NZCU Steelsands in Waiuku established at Deed Office Products Depot
  Our Common Bond opened to any employee or former employee of any company or organisation in New Zealand
2009 1 July - Marsden Point Credit Union merged trading as NZCU Marsden
2010 1 January - Wilson & Horton Credit Union merged trading as NZCU Wilson & Horton
2014 Philip Stark appointed General Manager of Steelsands
2014 Became the first Non-Bank Deposit Taker to be licensed by the Reserve Bank of New Zealand
2015 NZCU Wilson & Horton change of name to NZCU NZME

1 October - Alliance Group Credit Union merged trading as NZCU Alliance


August - Steelsands Credit Union celebrate 40 years of service to their Members


September - NZCU Steelsands and its Branches migrated to a new banking platform - Oracle Flexcube

Why become part of us?

NZCU Steelsands and branches provides the same kind of products and services you'd find at a bank, including:

We are proud to be a credit union and not a registered bank:

  • We are not-for-profit, we serve you, our customer-owners, not outside investors.
  • Our Board of Directors are elected by you, our customer.
  • We educate customers to help you achieve your financial goals.
  • Our number one responsibility is to our customer-owners.
  • Our funds are sourced from the community we serve.
  • Our lending supports individuals and families who live or work in New Zealand.
  • We care about service and treat you with dignity and respect.

You have a say in how your credit union is run. As a customer, and an owner, you can vote at Annual General Meetings as well as stand for a position on the Board of Directors.


NZCU Steelsands Annual Report

View our latest Annual Report