P&N Bank
 |
 P&N Bank branch in Westfield Carousel | |
Native name | Police & Nurses Limited |
|---|---|
| Type | Mutual bank |
| Industry | Banking |
| Founded | 2013 |
| Headquarters | , Australia |
Key people | Andrew Hadley (Chief Executive Officer) Stephen Targett (Chairman) |
| Products | Retail banking Insurance Home loans |
| Website | pnbank |
P&N Bank is a division of Police & Nurses Limited and is an Australian customer-owned bank based in Western Australia. Operating under a mutual model, P&N Bank provides retail banking services such as home loans, savings accounts, and insurance services. The bank has a network of branches throughout Perth and Bunbury.
As a customer-owned bank, there are no third-party shareholders. In May 2026, it was announced that P&N Group was exploring a potential merger with Bank Australia, another mutual bank, based in Victoria.[1][2]
History
[edit]Police & Nurses Credit Society originated in Western Australia in 1990 from the merger of the Police Credit Society of Western Australia Ltd[3] and Western Australia Nurses Credit Society Ltd.[4] In 2001, the organisation merged with Energy Credit Union Ltd,[5] which was the amalgamation of a number of smaller WA credit unions, the oldest of which was established in 1949. About 15 former credit unions make up what is now P&N Bank.
- 1969: Western Australian Police Union Cooperative Credit Union Society Limited established
- 1972: WA Nurses Credit Society Limited established
- 1981: MTT Salaried Officers Association Credit Union merged with the Police Credit Society and membership was extended to members of the Army, Navy and Air Force
- 1990: Merger of the Police Credit Society and the Nurses Credit Society to Police & Nurses Credit Society
- 2001: Energy Credit Union merged into Police & Nurses Credit Society
- 2013: Police & Nurses Credit Society became a mutual bank trading as P&N Bank
- 2019: Bananacoast Community Credit Union based in Coffs Harbour became a division of Police & Nurses Limited, establishing a national multi-brand organisation with P&N Bank operating in Western Australia and BCU Bank operating in New South Wales and South East Queensland
- 2024: P&N Bank signed a Memorandum of understanding to investigate a potential merger with Beyond Bank Australia,[6] it did not proceed[7]
- 2025: P&N Group (Police & Nurses Limited) and Great Southern Bank signed a Memorandum of Understanding to explore a merger, aiming to create one of Australia’s largest customer-owned banks with combined assets of approximately $30 billion, a nationwide presence, and continued operation of all three brands—P&N Bank, BCU Bank, and Great Southern Bank—subject to due diligence, regulatory approvals, and a member vote expected in late 2026.[8]
References
[edit]- ↑ Smith, Sean (14 May 2026). "P&N explores new $30 billion merger with Bank Australia after two failed attempts". The West Australian. West Australian Newspapers Limited. Retrieved 14 May 2026.
- ↑ Bank Australia (2026). "Bank Australia and P&N Group to explore merger to create a leading national customer-owned bank". Retrieved 14 May 2026.
- ↑ Police Credit Society of Western Australia Ltd
- ↑ Western Australia Nurses Credit Society Ltd
- ↑ Energy Credit Union Ltd
- ↑ "P&N Bank and Beyond Bank explore the opportunity to merge". 5 June 2024.
- ↑ P&N Bank pulls billion dollar merger with Beyond Bank after questions raised about Beyond boss The West Australian 15 September 2024
- ↑ Great Southern Bank and P&N Group merger opportunity: leading Australian customer-owned banks set to unite, Great Southern Bank, 22 September 2025