The Eastern Community Credit Union Co-operative served the residents of Melbourne’s outer Eastern suburbs for over 40 years. It was registered in 1963 as Bayswater-Boronia Co-operative Credit Society but for most of its early life it was known as Knox Credit Union Co-operative. Knox is a large area in Melbourne’s east, south of Nunawading and north of Dandenong.
In 1985 its name was changed to Eastern Community Credit Union Co-operative to reflect their bond to serve residents on Melbourne’s Eastern fringes. The credit union retained this name until ceasing to trade in 1997.
Australian Credit Unions Magazine featured some interesting stories on Eastern Community Credit Union Co-operative during the 1990s. In 1993 they shared the moving story of a member who was able to undergo a successful kidney transplant due to a loan from Eastern Community CU. Eastern Community CU General Manager, Jean Mecchi was quoted in the article as saying, “No other financial would assist Mr Deut with loan finance … but Eastern Credit Union put people before profit”.
The Eastern Community Credit Union Co-operative served the residents of Melbourne’s outer Eastern suburbs for over 40 years. It was registered in 1963 as Bayswater-Boronia Co-operative Credit Society but for most of its early life it was known as Knox Credit Union Co-operative. Knox is a large area in Melbourne’s east, south of Nunawading and north of Dandenong.
The February 1994 issue had a small piece celebrating the opening of a new Eastern Community Credit Union branch in Boronia (pictured above). Ms Mecchi was quoted again not only on the new branch but the growth of the credit union, “The asset growth reflects a vote of confidence by the local community, she said. The strength of the credit union indicates the importance customers place on customer services. We are able to provide a level of personal service not found in other financial institutions”.
Finally, the February 1995 edition of Australian Credit Unions Magazine publicised the visit of 30 officials from Taiwanese credit unions to the Eastern Community Credit Union office. Ms Mecchi was quoted as saying, “Credit unions in Taiwan commenced in 1964 and are still very small. The movement there has assets of under $500 million and 124,000 members … We, at Eastern Community were delighted to help the fledgling credit union movement in Taiwan at such a critical stage in its development”.
