Earlwood is a suburb in Western Sydney and quite an old one at that. Its modern roots stem from a land grant obtained by John Parkes in 1827. Initially known as Parkestown, it became Earlwood in 1918. It makes sense then that such an old part of Sydney should have such an early community credit union as Earlwood Credit Union Co-operative was instituted in 1954 with a bond to serve the residents of Earlwood.
Money Matters noted in April 1976 that, “The Earlwood Credit Union commenced business in a temporary office in Our Lady of Lourdes Church Hall. On 30 June 1954 after less than three month's business, the Credit Union had 93 members. [The] Business moved to an office at 263 Homer Street [Earlwood] in 1959 and again to 301 Homer Street in 1969”.
Quest, the credit union newspaper reported the growth of Earlwood CU in the early 70s. In 1970 it won an award for credit unions with assets over $150,000 but not exceeding $500,000. A year later Quest reported that, “Earlwood Credit Union is aiming for a savings goal of $1 million by next June 30. Last June 30 its savings and shares stood at $563,080 – half way there. Three months later it had risen to $708,000 – almost three quarters of the way. The magic figure seems well within reach!”
In 1972, Canterbury Municipal Council signed up for payroll deduction services for staff that were members of Earlwood Credit Union and other local businesses soon followed. In June 1975, Earlwood purchased an NCR 399 Mini Computer in order to process accounts.
In 1976, Earlwood Credit Union moved yet again into more spacious rooms on the corner of Homer St and View St. The office was officially opened by NSW Premier, Sir Eric Willis, on 13 March 1976.
Also in March 1976, members agreed to open the bond of the credit union to those living outside the boundaries of Earlwood. In 1980, Earlwood Credit Union transferred engagements to Georges River Credit Union and its name was removed from the register.
