Situated in the historical Customs House building, the Commonwealth Vault office looks more like a museum than a workplace from outside.
And once you enter, there is an instant sense of secrecy with thick massive doors opening and closing with access cards - the narrow passage leading us to the CEO’s cabin strangely appearing like a ballroom studio.
It’s a hush-hush atmosphere in here, exuding a fascinating combination of aristocracy and corporate-like air.
“It is the historical building that gives us a superior lease. Our clients get the feeling of being protected always,” says Jerome Concisom, the dynamic Indian-Malaysian CEO of the Customs House Safe Deposit Limited, aka the Commonwealth Vault.
Jerome has been heading the company, which started off as a property concept in 1998, for the past 10 years. And today, it has successfully taken over one of the most important banking services in Auckland - that of providing people with an assurance of keeping their hard earned belongings in ‘safe’ hands.
“The service of providing safe deposits has traditionally been with the banks. We have a working relation with ASB. But banks have now moved away from this business because this is not their core business. Safe deposits require a lot more attention, especially in terms of security, which the banks no longer want to get into,” Jerome explained.
Talking about the security scene in Auckland, Jerome brushed aside the misconception about the city being safe. Instead, he highlighted the fact that Indians were more at risk of getting robbed here than any other ethnic group.
“Indians are the easy targets for burglars because of our huge interest in one commodity - gold. And people end up paying the price for their conviction that having a safe in the house is safer than having it elsewhere,” Jerome said.
Looking back 14 years, Jerome is proud of the fact that Commonwealth Vault has come a long way from being an initiative of “marketing a space within a space” to becoming the first private Safe Deposit company in the world with the ISO certification.
“Most of our customers are hardworking people who cannot afford to lose what they have. And we give utmost priority to that. As opposed to other private providers and banks, we have the purchase option for boxes rather than renting them so that people can pass on their valuables from one generation to another. This gives a sense of ownership to our clients, who mainly comprise of Asians,” Jerome said.
Also, the service of having 24/7 operations sets Commonwealth Vault apart from the rest of its contemporaries.
“The other providers have banking hours but we have a man on site 24/7,” Jerome said. Another service that will add on immense credit to this company is their new feature, “Commonwealth Bullion”.
Keeping up with the Indian mindset: “When you buy gold and silver, you don’t spend, you invest”, the company will facilitate the investment of gold and silver bullion on behalf of its clients through this new service. This could well be a Diwali bonanza for many.
To know more about their bullion products visit www.commonwealthvault.co.nz