SERVICE ONE Mutual Limited is a customer-owned company owned by, and run for the benefit of, Members. Through the years, the organisation has seen a few changes, was originally established as a credit union and now provides SERVICE ONE Alliance Bank products and services through a strategic alliance with Bendigo Bank. SERVICE ONE is part of a network of Alliance Banks - mutual organisations determined to make a difference in their respective communities through social enterprise initiatives.
Below is just a snapshot of how we came to be...
SERVICE ONE Members Banking
SERVICE ONE Members Banking was created as a result of the merger of three formerly separate credit unions - The Credit Union of Canberra, Snowy Mountains Credit Union and Hospitals Credit Union. The three came together in May 2001 to form divisions of Service One Credit Union Limited. The three divisions continued to operate under separate names until December 2006 when they united under the name SERVICE ONE Members Banking.
Below is some information on the former credit union identities and the communities they served:
The Credit Union of Canberra
The Credit Union of Canberra was formed on 1 July 1996 as a result of a merger between the University Co-operative Credit Society and Credit Union Canberra. These former identities had associations with the Blue Print Credit Union, the Transport Co-operative Credit Society, TD Credit Union, Public Service Employees Credit Union, National Capital Credit Union, NCDC Credit Union and PSE and Community Credit Union.
Hospitals Credit Union
Hospitals Credit Union was formerly known as the ACT Hospitals and Health Employees Credit Union. It was founded in 1970 beginning with a Member base of 10 and $300 in savings. For the first three years of operation there were no employees, just volunteers running the credit union. Loan interviews for small applications and funding were conducted in Member homes by two Members of the Credit Committee.
The credit union was formed to service hospital and health employees and their families. The first office was at the original Canberra Hospital in Acton and transferred to Woden in 1991. The Branch at Calvary was established at the time the Hospital was developed.
Snowy Mountains Credit Union
On the 1 March 1971, 25 people held a meeting at the Coach House Motor Inn (now known as the Alpine Hotel) and as a result the Cooma Monaro Credit Union was formed. As the region the credit union provided services to changed, so did the corporate identity. Snowy Mountains Credit Union seemed a logical choice as it covered the areas of Cooma, Queanbeyan, Tumut and Temora.
The first office was situated at 84 Sharp Street Cooma and was opened on 10 April 1972. Membership throughout the 1980s and 90s expanded with the opening of Branches in Tumut and Queanbeyan. In October 1996 the Temora Branch was officially opened.
Bemboka Community Credit Union
On 1 April 2004, Members of Bemboka Community Credit Union merged with Service One Credit Union and became part of Snowy Mountains Credit Union. This merger meant that a rural community was able to maintain a financial service outlet that they have enjoyed since 1959, when it otherwise might have closed.