Monday to Friday, 9.00am to 4.30pm
Bank Orange has been a part of the Orange community for over 60 years
Over those years we have built a reputation for providing the people of Orange with a friendly and reliable alternative to our competitors.
On 10th December, 1964
A number of Email employees met in the staff canteen to discuss the formation of a Credit Union. Email (Orange) Employees Credit Union was formed with 19 members who joined at this meeting. A board of nine directors was formed and Tony Siemer was appointed Chairman. Tony Siemer was the main person behind the formation of this Credit Union and he remained as Chairman for the first two years. In the early years the volunteer directors did all the work as there were no paid employees. Directors collected the $10 shares from members, issued receipts, collected savings deposits and conducted the Loan interviews. With all the members working at Email, the Directors knew the people they were interviewing for loans personally and took into consideration the character of the member when approving loans. The loan limit in 1965 was £400 pounds.
1965
Max Fricke made the first deposit of A£500, enabling the first loan issue of A£400 to Charlie Radford. Payroll deductions were also introduced, a feature unique to credit unions at the time.
1966
The first staff member, Ailsa Sheldrick, was hired as a full-time clerical assistant. The credit union also purchased its first computer, an Addo-X 7000, which produced automatic printouts of monthly balances.
1967 – 1968
The first newsletter was produced, along with an article published in the Central Western Daily. Email (Orange) Credit Union also purchased its first accounting machine and increased the loan limit from $800 to $2,000.
1968 – 1969
Several local credit unions were established, including Orange Postal Employees’ Credit Union, Orange Base Hospital Staff Credit Union, and Ophir County Council Employees’ Credit Union. Email (Orange) Credit Union also hired its second staff member, Cathy Pickett, as a machinist clerk, and introduced member discounts at local retailers.
1971 – 1972
Detailed member statements became available on demand, and membership cards were introduced.
1973
The organisation changed its name to Orange Mutual Credit Union and relocated from the EMAIL factory to an office in Lords Place. Total assets exceeded $1 million.
1978 – 1982
Membership eligibility was expanded to include the wider Orange community, rather than being limited to specific payroll groups and their immediate families.
1982 – 1985
Orange Mutual Credit Union merged with Orange Commonwealth Employers’ Credit Union. The first ATM was installed, and the organisation relocated for the fourth time to its current branch at 288 Summer Street.
1985 – 1989
A second ATM was installed at the Summer Street branch, with additional machines introduced across Orange. During this period, the industry also experienced significant regulatory change, with credit unions becoming legislated by the Australian Financial Institutions Commission (AFIC).
1990 – 1995
In 1990, Orange Mutual Credit Union began sponsoring the Orange Sportsperson of the Year Awards. During this period the organisation also changed its name to Orange Credit Union, coinciding with its 30th anniversary.
1995 – 1997
Technology upgrades were implemented to improve security, member identification, and telephone banking services. Legislative changes also saw credit unions come under regulation by APRA and ASIC.
1999 – 2001
The original credit union office in the EMAIL factory closed. A call centre was established, followed by the introduction of internet banking, BPAY, and a member website.
Growth Was Rapid
In the early days many people were suspicious of the Credit Union as few people in Orange knew anything about what a Credit Union was. As more and more people discovered the ease of saving through payroll deduction and became aware of our philosophy of members helping members, growth was rapid. Much of the credit for this development should be given to Pat Egan who was Chairman of the Board from 1967 to 1984. By 1971 we had over 1,000 members. In 1973, Email (Orange) Employees Credit Union became Orange Mutual Credit Union. In 1976, Phil Nokes took over management of the Orange Mutual Credit Union and remained as General Manager until his retirement in 2004.
The Mergers
The 1970's saw many changes to the Credit Union. It was during that time we amalgamated with Orange Base Hospital Credit Union and Ophir County Council Credit Union. At that time, our assets passed the $2.5 million mark, our membership passed 3,000 and we purchased our first computer system. On the 1 November 1982, Orange Commonwealth Credit Union merged with Orange Mutual Credit Union. A Director of the Commonwealth Credit Union, John Jones went on to serve on the Board of Bank Orange for 17 years.
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