Staff Credit Society formed

In 1968, the FJ Staff Credit Society was formed.  

"The Fletcher Jones and Staff Employees'Co-operative Credit Society Limited is owned and operated by our staff for their own benefit.  You can use the Credit Society as a savings bank.  If you are over 18, you may be able to obtain a loan.  If you deposit money with the Society, you'll earn better than savings bank interest.  If you borrow, you'll pay much less interest than is charged by finance companies.  Your section leader will tell you how to get more information." From the FJ Staff information booklet.  (Loaned to FJ Stories Project by Lawson Ryan).  

The South West Credit Union(SWCU) now operating in Warrnambool celebrated their 50th anniversay in 2014.  In 1992/93, the SWCU merged with the FJ Staff Credit Society.  

"A key step in turning around the fortunes of SWC was the merger in 1992-93 with the Fletcher Jones Credit Society. Unlike the credit union, it held a healthy cash reserve but, with the decline in the Australian textile industry, had an ever-decreasing membership as employees were let go."  

"The Fletcher Jones Credit Society in 1993 was a further boost to the credit union, bringing with it not only much-needed cash reserves and members but extra experience and expertise to the SWC board in the form of former FJCS directors John Hogan and Alan O’Connor."  Page 22 and 23 of the SWCU Anniversary booklet (link below)

 

Do You Know or Daily Staff Bulletin, 1972.  Loaned by Doug Maloney.
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