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The Valley Before the Horizon
A little historical gem was donated to us recently. The Bega Valley Credit Union minute book from 1965-1980 was passed onto us by Kim Morris, Chief Marketing Officer of Horizon Bank. Bega Valley Credit Union merged with Illawarra County Council Staff Credit Union in 1980, which is today known as Horizon Bank.
Along with annual reports and oral history recordings, minutes of board and committee meetings are the best way that we can assist industry and the research community to tell the mutuals’ story.
Bega Valley Credit Union was begun in 1963 as the BVCC Employees Credit Union by staff of the Bega Valley County Council. The first two years of their meeting minutes are collected elsewhere but this minute book holds the minutes of board meetings and supervisory committee meetings for most of the credit union’s existence.
Although the minutes begin in 1965, the document proposing the formation of the credit union in 1963 is attached to the inside of the front cover. Here are parts of it …
It is proposed that a credit union be formed of employees of the Bega Valley County Council.
Primarily, the credit union will be a co-operative organisation of Bega Valley County Council Employees who will run their own financial service and provide members with an attractive savings scheme and the opportunity to borrow at low cost and in times of need ….
The rate of interest on loans is also a matter for the board but will not exceed 6% flat or 2d. in the £ on monthly balance …
A formation meeting will be held at the Bega Valley County Council’s office in Auckland Street, Bega, on Tuesday, 16th July 1963, at 7.45pm.
