FSF Marks 100-members Milestone Unconventionally

The Financial Services Federation (FSF) has welcomed social lender Money Sweetspot to its membership, marking 100 members for the first time in the organisation’s 59-year history.

The FSF is the non-profit industry association for specialist lending and leasing companies, with members collectively reaching 1.7 million consumers and businesses across Aotearoa New Zealand.

“Reaching 100 members for the first time reflects the viability of New Zealand’s non-bank sector, which is supporting consumers and businesses across New Zealand through their ability to be nimble, innovative and provide necessary competition,” says FSF Executive Director Lyn McMorran.

FSF members include finance and fleet leasing providers such as UDC Finance, Turners, and MTF, several credit unions and building societies, mortgage providers, credit-related insurance providers, and the finance arms of global motor vehicle brands including Toyota, Nissan, and Mercedes-Benz (see the full member list here).

“Being able to expand our community whilst upholding rigorous standards for membership is testament to the quality of non-bank organisations emerging in New Zealand” McMorran says.

Advertisement - scroll to continue reading

“FSF membership has doubled in the last seven years, and we’ve done that while remaining dedicated to only welcoming organisations that we truly believe contribute to New Zealand’s financial services sector in a positive and compliant way.

“It is humbling that organisations continue to recognise the value of being an FSF member, where they can contribute to key policy discussions and initiatives shaping the sector.”

Rather than a traditional celebration, FSF will mark the milestone by donating 100 food parcels through the Salvation Army and Woolworths NZ’s Foodbank Project.

“We know that with today’s cost of living, many Kiwis are doing it tough, and hope this donation to the Foodbank Project will make a small difference to families in need.

“We also encourage borrowers experiencing financial strain to contact their lender, non-bank or bank, to help navigate a way forward that protects their future financial wellbeing. Our members know that life happens, and there are lots of things that lenders can do to help customers get through.”

Salvation Army Financial Mentoring Coordinator Paul Forster said the organisation was always grateful and in need for support, “In these difficult times it’s gifts such as these that make such a difference in the lives of the people we support, who so often need a hand up.”

© Scoop Media