News and Events

Partnership puts your needs first

From 1st September, Farmlands shareholders can talk to ASB about their range of tailormade banking packages.

Earlier this year, Farmlands and ASB began working together as a strategic partnership. This is different from the more traditional approach of simply banking the co-operative.

The reason for forming this partnership was to work together to develop other streams of value for each other, as we both deal with change in our markets, including better value for our shareholders across all their financial needs. Importantly, our partnership is based on similar, regional and community-based values – and now the benefits of this are being made available to our 68,000 shareholders.

Farmlands Chief Financial Officer, Kevin Cooney says the co-operative undertook a thorough process, confirming ASB as the best choice. “ASB showed the best understanding of both our journey and the strategic challenges we face for delivering value to our members given industry change and disruption,” Kevin says.

“Farmlands appreciated ASB’s commitment of time and energy to understanding both our present and future needs and then ensuring alignment of their proposition with this. As well as the co-operative’s needs, this included a commitment to developing solutions with our members that meet all of their financial needs, including wealth, personal, business, property and risk management.”

ASB’s GM of Rural, Richard Hegan, says it was crucial for ASB to take the time to fully understand Farmlands as a business and as a co-operative, because understanding the requirements of the business allows ASB to focus on delivering to the diverse requirements of shareholders.

“At ASB we’re passionate about helping New Zealanders progress by helping them achieve their financial goals and that is something we really focus on when considering any strategic partnership,” Richard says.

“It became clear from the start that working with Farmlands would be a perfect fit. Farmlands is a strong, progressive co-operative, with dedicated and aspirational shareholders. We’re confident through our common commitment to help the rural sector get ahead that we’ll create many opportunities together.”

This partnership is an opportunity for Farmlands shareholders to meet with their local ASB team to discuss their financial and banking requirements and allow ASB to tailor solutions specific to those shareholders’ personal, family and business needs.

Richard says the partnership’s goal is to accelerate the financial progress of rural New Zealand. There is a shared commitment by both organisations to deliver improved farming and business insights, which lead to better financial and farming outcomes for our farmers.

“We’re looking forward to working together and developing our partnership to deliver both savings and value through things like providing relevant insights, valuable connections, bespoke business opportunities and discounted promotions,” Richard explains.

“It’s also about creating new opportunities that will ensure Farmlands stays ahead of the pack in terms of reputation and customer experience and that’s pretty exciting.”

Kevin says this partnership with a respected expert in banking committed to both Farmlands and the rural sector allows Farmlands to give shareholders more value from their co-operative. Farmlands staff are happy to introduce shareholders to the ASB team, who will invest time to understand all of a shareholders’ financial needs and develop solutions through their range of packages.

“This is a unique partnership that is designed specifically to make both partners and our shareholders stronger and is integral to reinvigorating what it means to be a rural services and supplies co-operative,” Kevin says.

“We have listened to our shareholders and identified ways we can continue to add value to them, beyond the point of sale. ASB is a great fit as we continue to re-invent the Farmlands Co-operative Spirit.”