AUCKLAND, N.Z.–Henry Lynch, the CEO of Co-op Money NZ, the industry association for credit unions and mutual building societies, has announced plans to leave the organization in April after almost eight years.
“It was Henry’s tremendous drive and flair that saw the introduction of debit card and mobile banking products to the credit union sector – in terms of ATM payment switching Co-op Money NZ is now the biggest in the country with approximately 1,000 ATMs payments switched through our payments switch which is over 30% of the New Zealand market,” said Claire Matthews, chair of the Board of Co-op Money NZ. “More recently Henry has also successfully led the migration to a world-class tier 1 banking system with Oracle FlexCube, as part of Co-op Money NZ’s strategy to focus on banking and payments – Co-op Money NZ is one of the first non-bank organizations in the world to have this advanced platform which is a huge achievement.”
Henry Lynch
Matthews added that under Lynch’s tenure Co-op Money NZ also joined Mastercard as a direct participant and sold its insurance book held by Co-op Insurance NZ.
“Henry’s vision has been pivotal in ensuring that the credit union sector remains a vitally important part of New Zealand’s economic, financial and social fabric. Henry brought his 30+ years of financial services industry to ensure Co-op Money NZ and the credit union sector is now at the forefront of the New Zealand banking system,” Matthews added. ““Henry leaves a proud legacy of introducing innovations and technological firsts for the credit union sector so that the credit union sector now competes and offers a real alternative to the big Australian-owned banks.”
The Co-op Money NZ Board has appointed Chief Operating Officer Jonathan Lee as Interim CEO.