Westpac Institutional Bank has appointed Pippa Crawford to the role of head of WIB Victoria. Crawford will also take on the role of head of energy and resources for Corporate and Institutional Banking. Crawford moves to Westpac after 15 years at the Royal Bank of Scotland in London, where her most recent role was head of loan capital markets. Community First Credit Union said its approach of "controlled growth" would continue "to suit the economic environment in which it operates and the prudential need to manage its capital." The Sydney-based mutual recorded a net profit of A$2.2 million in the year to June. Asset growth and deposit growth were both 3.3 per cent and a little below system. The Reserve Bank of New Zealand reported new mortgage approvals fell sharply in the first full week after it imposed a speed limit on new low deposit lending. The number of approvals fell to 5999 in the week to October 11 from 6578 the previous week. It was the lowest weekly total since the Easter-shortened week to April 5.  The value of approvals in the week was NZ$1.003 billion, down from NZ$1.196 billion the previous week. It was the lowest week by value since July 26. Coles will trial its own contactless payment system, according to the Australian Financial Review. Called Pay Tag, the scheme involves the use of a sticker that attaches to a mobile phone and allows for contactless payments up to A$100. The sticker is linked to a Coles MasterCard FlyBuys card.