Illawarra Credit Union was registered on 20 July 1972 after the merger of Southern Mutual Credit Union and Collieries Employees Credit Union. It merged with Norwarra Credit Union in 1976. Southern Mutual Credit Union was begun in 1969, and Collieries Employees Credit Union started in 1967. It merged with Huntly Credit Union in 1989 and in the 2000s they engaged in mergers with Shoalhaven Paper Mills Employees' Credit Union, Western City Credit Union and Unicom Credit Union. On 1 February 2025, Illawarra Credit Union merged with Community First Bank.

Our Illawarra Credit Union records include annual reports from 1973 onwards, correspondence, newsletters, posters and governance documents and reports published online.