P&N Bank

Office address: Kings Square, 1 Level 6/556 Wellington St, Perth WA 6000 
Website: pnbank.com.au 
Year established: 1969 
Company type: mutual banking 
Employees: 600+ 
Expertise: retail banking, home and personal lending, business banking, digital banking and technology, financial wellness and education, mortgages, credit and debit cards, insurance 
Parent company: P&N Group 
Key people: Andrew Hadley (CEO), Jacqueline Ryan (chief business banking officer), Chris Malcolm (chief data and propositions officer), Shaun Hassall (CFO), Christine MacKenzie (chief people officer), Brendon Comrie (chief risk officer) 
Financing status: corporation 

P&N Bank is a customer-owned mutual bank based in Perth, serving over 192,900 customers in 2024 with $9 billion in assets. The bank offers a full range of retail and business banking services across Western Australia. 

History of P&N Bank 

Police & Nurses Limited began in 1969 as the Western Australian Police Union Cooperative Credit Union Society Limited to serve police officers and staff. The bank soon welcomed nurses and expanded through mergers with other credit societies to grow its reach and impact.  

Other important events in P&N Bank’s history include: 

• 1972: the WA Nurses Credit Society Limited was founded 
• 1981: MTT Salaried Officers Association Credit Union joined, allowing more people to become members 
• 1990: Police & Nurses Credit Society formed from major merger 
• 2001: Energy Credit Union joined, adding more members 
• 2013: became a mutual bank trading as P&N Bank 
• 2019: Bananacoast Community Credit Union joined, creating a national multi-brand group 
• 2024: opened inclusive branches at Karrinyup and Carousel shopping centres; Named Bank of the Year by Roy Morgan 

In 2024, P&N Bank decided not to merge with Beyond Bank after careful review. The board said the bank remained strong and secure, but would keep focusing on growth and investment in key areas. 

P&N Bank’s products and services 

The bank’s home loan services are supported by flexible options, competitive rates, and personalised support from local and virtual lenders: 

Owner-occupied home loans 

• basic variable home loan: no ongoing fees and a low variable interest rate 
• offset variable home loan: lets you use your savings to reduce interest paid, with flexible repayments 
• fixed rate home loan: fixes your repayments for 1 to 5 years 

Investor home loans 

• & Investor Basic Loan: no-frills investment loan with no ongoing monthly fees 
• & Investor Loan: variable rate investment loan with an optional offset account and no ongoing fees 
• fixed rate home loan: fixes repayments for 1 to 5 years for investment properties 

Specialty home loans 

• reverse mortgage: lets eligible customers access their home equity in retirement 

Mobile and virtual lenders 

• virtual lenders: access help and approvals through mobile, virtual, or in-branch support 

P&N Bank’s home loan range covers first home buyers, investors, those looking to refinance, and people wanting to access equity. The bank’s fast approvals and local service make it easy for customers to find a loan that fits their needs. 

Company culture and values 

P&N Bank’s culture is built on belonging, care, and collaboration, where staff feel valued and supported in their work. The bank’s team enjoys a positive environment and a strong sense of purpose, with benefits that include: 

• flexible working: hybrid and remote work options 
• paid parental leave: up to 12 weeks for primary carers 
• additional leave: option to buy extra annual leave 
• health support: flu vaccinations and employee assistance 
• volunteering: two paid days for community service 
• employee discounts: savings at major retailers and on banking products 
• professional development: leadership programs and career growth 
• incentives and recognition: rewards for performance and service milestones 

P&N Bank champions DEI as well. The bank marks key cultural days and supports gender equity for all identities, meeting the Workplace Gender Equality Act 2012 for 2022-23. It also advances reconciliation with Aboriginal and Torres Strait Islander peoples and supports LGBTQIA+ inclusion. 

About CEO and MD Andrew Hadley and key people 

Andrew Hadley is the CEO and managing director of Police & Nurses Limited, leading the bank since 2014. He has over 25 years’ experience in banking and has worked in retail, strategy, and operations. 

The executive team at P&N Bank brings strong experience and leadership to their roles: 

• Jacqueline Ryan leads as chief business banking officer, bringing deep business banking experience from Australia and overseas 
• Chris Malcolm serves as chief data and propositions officer, focusing on data, analytics, and product development 
• Shaun Hassall is CFO, managing finance, risk, and transformation in customer-owned banking 
• Christine MacKenzie acts as chief people officer, guiding HR strategy across global financial services 
• Brendon Comrie works as chief risk officer, overseeing risk management, compliance, and corporate governance 

The executive team drives strategy and vision for customers. Their expertise supports growth, risk management, and quality service. 

The future at P&N Bank 

At an MPA roundtable event with leading customer-owned banks and brokers, P&N Bank shared its broker partnership strategy. The bank’s investments in technology and process improvements aim to deliver faster approvals and better experiences for brokers and customers. 

The bank also improved its home loan process by partnering with MSA National, cutting turnaround times and enabling faster settlements for clients. The bank also launched online broker accreditation. This gives brokers more flexibility and supports a seamless, digital experience.