The Macarthur Credit Union started life as the Clutha Employees Credit Union Limited. The credit union was formed to provide financial services to local employees of the Clutha coal mines in the Camden area.
The Clutha Employees’ Credit Union was registered on 12 November 1971 and the first Annual General Meeting was held on the 8 November 1972. The foundation directors were Ralph Sharp, Ron Dines, Les Ohlsen, Sam Heatley, Peter Dawswan, Denis Frew, John Taylor, Wally Lord and Keith Hamer.
In 1978 the credit union was re-named Macarthur Mutual Credit Union Limited. This name change enabled it to expand to serve the needs of the broader community of the Macarthur and Wollondilly areas.
The credit union grew steadily and in the period 1980/81 its assets passed $4 million and by 1984 the assets were nearly $10 million. In an interview reported in The Chartered Accountant in Australia, August 1984, the General Manager Graham Holby spoke about the credit union’s service offerings and said “I think the emphasis with community credit unions has to be on image, awareness and accessibility”.
In 1984, the credit union organised a truly unique fund raiser for the Los Angeles Olympics. It hired a Qantas jumbo jet on Sunday, 8 April 1984, for a sightseeing flight over Uluru and the Olgas. The flight was well subscribed and a donation of $5000 was made to the NSW Olympic Council to help send athletes to the games (photograph of the cheque presentation below).
The credit union continued to prosper and by 1994/95 its assets were reported to be $67 million and the credit union had a membership of just over 9,500. On 20 January 1995 it was re-named the Macarthur Credit Union Limited and by 2003-2004 the active membership was 17,500.
In 2013 the credit union launched its new name and brand The Mac. The Mac continues to provide financial services to its members and community.
