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Josh and Maia could be any Kiwi couple: mid-30s, settled in their careers, living in a provincial town. What’s important to them is finding a balance between working/earning and enjoying life on their terms. That might entail taking a holiday, upgrading the car or turning their side-hustle into a new, possibly full-time business.
They’re like many of their friends – better off than some, not quite as well set up as others – who find buying a home and navigating young families on 1.5 incomes is challenging. Sometimes, they lack the cash on hand to cover unexpected expenses or the savings for big purchases, especially in the current economic climate.
In the evenings, rather than devouring another box-set, many are googling “how to better my financial position”, “mortgage broker near me”, “latest interest rates” and “repayment calculators”, or “top 5 safest cars for families”.
Tash Callister knows where Josh and Maia, along with thousands of other Kiwis, are coming from. She is the chief commercial officer for MTF, and it’s the company’s mission to help them get there.
Well established as a vehicle finance provider, Callister says MTF has taken on a much broader role in also offering personal loans, business loans and mortgage advice with a personalised, customer-first, community-based approach.
This year, MTF expanded into home loan brokering and introduced insurance partnerships with AMI, aiming to simplify customer access to financial products through a one-stop-shop approach.
The company has an expanding network of 54 locally owned offices and many more dealer partnerships across the country with new franchises opening each year. It’s a “when you want us, where you want us” approach: face-to-face, on the phone, or online. You’ll deal with someone in your community who can discuss options and make decisions locally, without needing to escalate to a head office in Auckland or Wellington.
Callister says that’s at the heart of MTF’s philosophy and its relationship with its customers. “If you want to contact the company that you’ve got your loan with – you might want to be making some changes or you’ve got a specific request or you’ve lost your job – these days, often your only option is calling through to a faceless call centre.
“You don’t know where that person is located. You might have to speak to five different people and repeat your message a number of times to someone who might not know your unique situation. With us, we have 54 branches around the country with people in those branches empowered to make the decision.
“They can walk right up the street and sit down in front of their local money expert who knows their situation. If they want to do it completely online or they want to do it over the phone, they have that person’s name, email address and mobile phone number.
“So it’s very direct. It’s a very one-on-one relationship. It’s about customer choice and being able to contact the person they know who is empowered to make a decision.”
With MTF, that local connection is a two-way street, reflected in the tagline, “Your local money experts”.
“We have a requirement that the franchise owner or key person must live and work in that community, which is powerful as it means that they are invested in seeing their community do well because they live there too. We’re often out supporting schools and sports clubs, we donated to the Cyclone Relief Fund and the new community swimming pool in Mosgiel – there’s lots that we get involved in at the grassroots level.”
Callister says MTF’s “we know you, you know us” approach benefits both the borrower and the lender.
Under the strict regulations which govern lending from a bank or a non-bank lender, the company maintains a clear stance on responsible lending by offering manageable loans.
Callister says that’s demonstrated by MTF having some of the sector’s lowest arrears compared to the industry norm. “We prioritise financial literacy and community wellbeing, demonstrating an ethical approach to lending.
“A lot of lenders have a very black and white set of criteria that’s very rigid. A lot of them use automated algorithms to make decisions and they don’t necessarily take the care to see the individual’s unique situation behind the application.
“We’re a lot more likely to say, ‘Based on the information you’ve provided, we’ll work with you to find an affordable amount that won’t bring about a big drop in the standard of living you enjoy.’
“We prefer to work with the customer to try and help them get to a yes. We aim to be solution-focused – it’s about talking things through with them so we and they agree on an amount that they are going to be comfortable with.”
Callister says it all comes back to those ties within the community, and knowing and trusting your neighbours.
More info: mtf.co.nz