In 1970, a group of banana growers who were struggling to secure loans decided to take matters into their own hands. On September 18, they held their first meeting in the CWA rooms in Macksville, forming the Nambucca B.G.F Members Credit Union Ltd. By 1974, it became Bananacoast Community Credit Union – what we now know as BCU Bank.
“It was one of the best things we ever did, but we didn’t know that at the time,” recalled former director Malcolm McPhail. From humble beginnings to a thriving customer-owned bank, BCU remains committed to its community roots.
BCU Bank was built on a tradition of fair go banking, where loans were based on character, not just collateral. The first two loans of $400 were repaid at 20 cents per carton of bananas sold at market, a true community effort.
“We helped a lot of friends. People invested money, and we lent it to those who needed it,” recalled former director Harold White. From those first small loans to a thriving customer-owned bank, BCU remains committed to supporting its customers and their dreams.
BCU Bank has been backing business owners for decades. In the 1980s, it became one of the first Australian credit unions to offer commercial loans and has remained committed ever since. BCU are there to help local businesses and communities thrive.
For nearly 40 years, BCU has proudly supported Primex, a leading industry event connecting farmers and businesses, where they engage with customers to understand their needs and provide real solutions.
