Two associations to become one

Rather than setting up a new organisation, the PAA will become the single body with its current seven member board structure changing to have five PAA representatives, four NZMBA representatives and up to two other independents.

The plan is for the NZMBA brand to continue to exist under the PAA structure along with existing NZMBA member services such as its continued professional development (CPD) training services and its annual awards. PAA doesn't currently offer CPD services.

NZMBA's two staff members and its existing infrastructure will move across to the PAA.

The two bodies also expect one organisation with a larger membership - PAA currently has about 850 members, a third of whom write mortgages, and NZMBA has about 430 members - will mean greater clout in lobbying government and working with the regulator, the Financial Markets Authority.