How secure is my money with WBS?

Security and stability are a major consideration at WBS

Read our Product Disclosure Statement (PDS) on our Important Documents page.

WBS is a mutual building society, owned by its members (investors) and a charitable Trust (the WBS Charitable Trust). We are not a finance company.
WBS has offered tailored lending and investment to the people of Wairarapa and beyond for 150 years.
WBS’s profits stay local rather than going offshore. We give back to our community in the form of grants and sponsorship.

We have a strict liquidity policy for investing our depositor funds across banks with strong and stable credit ratings.
For lending, we work in partnership with our borrowers and follow a stringent lending process to ensure loans are secured and payments are met.

WBS is a non-bank deposit taker licensed by RBNZ, whose role is to maintain financial stability. We are also monitored by a Supervisor who reports to the RBNZ on a monthly basis.
We are guided by an experienced Leadership Team and governed by an experienced Board with monthly Board meetings.
WBS has a stable BB+ (Stable) rating from the credit rating agency, Fitch. We’ve maintained this rating for more than 16 years (including through the Global Financial Crisis of 2008).
Based on our lending and investment book size, BB+ (Stable) is the highest rating WBS is likely to achieve.
Like all other licensed financial institutions, we operate under strict regulations listed within the Acts of parliament listed below.

Currently no cash deposits in New Zealand held by banks or other deposit takers are guaranteed by the Government. Changes have been proposed to the Deposit Takers Act and Code of Conduct for licensed financial Institutions, along with a depositor compensation scheme. These changes will provide further assurance and confidence to our customers in the coming years.