Ballarat Co-operative Credit Union Limited was formed on 1 November 1976 from the amalgamation of Ballarat District Co-operative Credit Society Limited, Ballarat East Credit Union Co-operative Limited, Redan-Sebastopol Co-operative Credit Society Limited and M.B. John Employees Credit Co-operative Limited.

The Board met for the first time on 3 November 1976 in the Board Room of M.B. John Employees Credit Co-operative at Creswick Road, Ballarat.  Members included James (Jim) Muller (Chairman), P. Rowlands (Vice Chairman), Laurie Steele, Secretary and Warren Edwards, Manager/Treasurer.

Jim Muller, the first chairman,  recounts in an oral history interview with Richard Raxworthy in October 1978 (held by Australian Mutuals History) that it took a great deal of negotiating and persuading before the four credit unions agreed to amalgamate.

Amalgamation meant that it was possible to employ staff (not just rely on volunteers) and it also meant that the financial future of the amalgamated entity was more stable and assured. Operations commenced in the new office in Albert Street Ballarat on 13 December 1976 when the staff included the Manager and three others.

On 1 January 1979 Ballarat Co-operative Credit Union Ltd accepted the engagements of Ararat Credit Co-operative.  The Credit Union further accepted the engagements of Stawell Credit Co-operative Ltd (1 August 1984), Colac and District Credit Co-operative Limited (1 November 1984), Daylesford Credit Co-operative Limited (1 April 1985) and Ballarat Base and Associated Hospitals Credit Co-operative (1 October 1990).

On 4 November 1996 the Credit Union was re-named Gold Credit Co-operative Limited.  Financial Planning services were introduced in 1999 and the following year an Automatic Teller Machine was installed at the head office.

Commencing in late 2003 merger discussions were held between North West Country Credit Union Co-operative Limited and Gold Credit Co-operative Limited.

On 19 May 2004 a special general meeting of members endorsed by a narrow margin the merger between the two credit unions. On 1 July 2004 Northwest Country Credit Union Co-operative was re-named RegionalOne Credit Union Limited under the merger agreements and absorbed Gold Credit Co-operative Limited.