NZ Post Primary Teachers Association â€“ Observation by the Owl
The 2010 Accounts shows that the PPTA (Note 8) – Union staff have been given staff mortgages at 1% less than the average floating rate.
So here we have Union Fees paid by some extremely talented souls in the teaching fraternity which is then given to Head Office staff at favourable mortgage loan rates.
The Owl has no problems with organisations offering staff great benefits to be part of an organisation.
As the PPTA has nearly $5m in deposits earning slightly less than the staff mortgages why doesnâ€™t the NZPPTA offer all its union members mortgages at 1% less than the average floating rate.
The upsides are 1) the Union will get a better return on investment and 2) members get discounted mortgages.
Note: All information is available in the public domain and the Owl draws no other conclusions other than to provide an observation.