In choosing Creditwest Bank as our sponsor we were cognisant of the fact that it is the only TRNC bank with an internationally recognised "AA" credit rating, reflecting the security of the Bank.
Credit ratings are an evaluation of the credit worthiness of a business and the larger international credit rating agencies generally use letter designations such as A, B, C with A being the highest rating.
An 'AA' rating puts Creditwest Bank in the second highest rating consistent with a business with a low probability of default.
Although the BRS does not make recommendations in public and has to maintain impartiality, we would be very remiss in our responsibilities if we did not publicise the benefits available to individual members through our relationship with Creditwest Bank.
Whilst the 'AA' credit rating is clearly important, it was equally important that Creditwest Bank could offer financial products and services to members that were the equal to or were more favourable than those offered by other TRNC banks, that there was a spread of branches across the TRNC for members to use and that English speaking staff that were expert in ex-pat banking were always available.
We were concerned that within our partner bank there would be a single focal point across all branches who could deal with any ex-pat banking questions and member issues.
We also required our partner bank to offer the BRS Committee the ability to hold members funds and to pay invoices and make purchases using electronic banking and a bank sponsored credit card.
Finally we wanted our partner bank to negotiate with us an annual sponsorship budget to offset the cost of some BRS events and social activities.
We are pleased to say that Creditwest Bank meets all of these requirements and more. For details of the financial products and services available to new and existing members click here.
Creditwest Bank has become the very first local bank to receive the ISO/IEC 27001:2013 Certificate.
This certificate means that the security and data protection of Creditwest Bank customers and stakeholders, along with the confidentiality, integrity and accessibility of all business processes carried out at Creditwest Bank, have been approved by the international information security standard.
Creditwest Bank was audited by the certification company Proks Certification and Special Education Services Ltd. Sti. accredited by TÜRKAK. Creditwest Bank's compliance with ISO/IEC 27001:2013 Information Security System Standards will be periodically audited by the authorized audit firm.