History of the New Zealand Firefighters Credit Union
Brown Watch Night Shift
May 5 1976
Central Fire Station Wellington
On 5 May 1976 a meeting was held at the Central Fire Station, Oriental Parade, Wellington. It was a Brown Watch Night Shift and the Guest Speaker Mr Peter Hills spoke on “Credit Unions and how they work”.
At the conclusion of his talk and by a show of hands the “Brown Watch Bank” was formed. Twelve representatives were elected to form the first Board of Directors, initial deposits of $120 were collected and within days the first loan of $100 was made.
The Wellington Firefighters Credit Union worked initially with no office space, and they were often seen standing outside the Wellington Pay Office collecting money for deposits and loans. Often a fire Engine was seen outside Members Homes conducting business of the Credit Union.
The Wellington Firefighters Credit Union grew to become the New Zealand Firefighters Credit Union in 1981 allowing nation-wide membership.
Promotion of the Credit Union is ongoing and at times controversial. Sceptics have hammered the organisation and we have shown that we will grow.
Today the New Zealand Firefighters Credit Union consists of over 1800 members throughout New Zealand, with over $6 million in total assets. Currently we are the third largest New Zealand Association of Credit Unions Affiliated Industrial Credit Union in New Zealand.
We have established our own office in Petone with two full-time staff members, fully computerized and banks systems integrated.
As can be seen the dream in 1976 has become reality and we have an organisation of people helping people that we can be proud of. We now have a successful organisation that we can continue to make grow and reach the target of being the Number One Affiliated Industrial Based Credit Union in New Zealand.
Our thanks go out to our founding members and supporters of your Credit Union.