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Our History

Proudly part of the Northern Rivers community since 1966

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Southern Cross Credit Union is proud to have been part of the Northern Rivers community since 1966, making us one of the longest established Credit Unions based in the region.

From humble beginnings meeting the financial needs of Tweed Valley banana growers in 1966, we have expanded to become a multi-million dollar business providing financial services to customers right across the Far North Coast of New South Wales and around Australia. 

The Credit Union Movement

The Credit Union movement began in Germany in the 1860's when farmers organised themselves into mutual co-operatives to pool their savings, no matter how small and lend to each other at reasonable rates. Southern Cross Credit Union started in a similar way. 

In the mid 1960's a local farmer, Mr WG (Bill) Stoddart, felt that the banks of the time were too strict in the way they did business and after watching a television documentary on Credit Unions, he decided to do something about it. He realised that by using "Banana Grower" as a common bond and the name of the Banana Growers Federation as backing, a Credit Union could be formed to help local people with their finances.

The Banana Growers Federation (BGF) was a large rural co-operative held in high esteem by the residents of the North Coast of NSW. 

1966 - 1975: Tweed BGF Members Credit Union

Bill and his brother Stan convinced the Tweed District Council of the BGF to try setting up a Credit Union in the local Tweed area. The Council's secretary Ted Navin obtained more information from the NSW Credit Union League and a formation meeting was held at the Court House Hotel, Murwillumbah on July 25th 1966.
It was not long before Banana growers from the Brunswick District Council of the BGF who did business in Murwillumbah requested to join and the Credit Unions Bond was altered to include their area. Branches were opened in Mullumbimby and Tweed Heads in 1973/74. In March 1973 the current Head Office building was purchased with the Official Opening conducted by on 28 April 1973 by Mr David Horton, Registrar of Credit Unions.

1975 - 1997: Tweed-Byron Credit Union

On November 25, 1975 Tweed BGF Members Credit Union merged with Lismore Community Credit Union to become Tweed Byron Credit Union. The Credit Union continued to grow and prosper under the identity of Tweed Byron for the next twenty years, establishing a network of 9 branches.

1997 - Today: Southern Cross Credit Union

In 1997 the name of the Credit Union was changed to Southern Cross Credit Union. Today we have a network of branches across the Northern Rivers and continue to provide local, professional banking and financial services to our customers.

 

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