Mervyn Callaghan was the inaugural Secretary/Manager of the Queensland Police Credit Union 1964-1968, and inaugural Secretary/Treasurer Federation of the Australian Police Credit Unions; President, Queensland Credit Union League 1965-1968; inaugural Secretary/Treasurer Australian Federation of Credit Union Leagues and later Senior Vice-President; inaugural Secretary/ Treasurer South Pacific Confederation of Credit Union Leagues; founder of nine Queensland Credit Unions including Bardon Parish Credit Union and Editor and Publisher Queensland Credit Union Magazine. On 14 June 1982 he became a member of the Order of Australia 'In recognition of service to the community and trade unionism'.

He received the 1989 Kevin Yates Award for service to Credit Unions between 1964 and 1991.

Mervyn Callaghan provided an oral history interview for the credit union movement in 1987 when he was interviewed by Dermot Ryan.

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