Town Talk | GMCU: 70 years of local financial service

This isn’t the first time I’ve suggested that, whatever you need to do, do it locally if you possibly can, please.

I was reminded of this last year, when I drew your attention to a TV commercial being run by the GMCU.

In short, the message was ‘you do everything else here, why not bank here?’

It was a no-nonsense commercial, unlike some of the others I have witnessed lately, where people jump over the moon with a pogo stick and a car morphs into a different model when kicked.

The messages are being hidden by the technology — with someone saying ‘look what I can do’.

Anyway, when I was communicating with GMCU’s marketing person, she mentioned that 2025 was a rather special year for them.

It is 70 years since the first credit union opened in our area; 60 years since the Shepparton Credit Union appeared and 40 years since the regional credit unions amalgamated into Goulburn Murray Credit Union.

It’s not a bank

I’ve been a member of GMCU for around 30 years; I knew it wasn’t a bank but how does it all work?

I asked if I could catch up with the chief executive and a branch manager who’d been around for a long time — and as a result, I had a chat with Richard O’Nians, the new chief executive, and Dave Drummond.

Dave has been with the organisation for 41 years and, these days, takes care of home, investment and commercial lending in Seymour and Euroa.

Last year, the organisation conducted an extensive search for its new chief executive and wisely, in my opinion, decided on Richard.

He is a family man, with three adult sons, and he is rapidly becoming a fan of Shepparton’s wonderful community.

Richard has had more than 30 years of experience in the financial services sector, including leadership roles in business and retail banking, risk management and financial reporting — and when I read the complexity of GMCU’s annual report, I realised how important, and necessary, that experience was.

He is also easy to talk to — so I did; filling him in on my own memories of the GMCU.

Eventually, I gave him the opportunity to tell me how the whole thing works.

A credit union is owned by its members, which means there are currently 21,000 owners of GMCU.

Just like a bank, it offers full financial services to its members and makes a profit.

Some of the profit is retained — reinvested into improving products and services and ensuring interest rates stay competitive.

Then, a substantial amount is given back to the communities it serves.

Last year, more than $110,000 was invested into community initiatives — from sports clubs to art groups.

There is a special relationship with the Greater Shepparton Lighthouse Project, with GMCU staff volunteering assistance and fundraising matched dollar for dollar by the credit union.

The Lighthouse Project is an initiative to support wellbeing and educational outcomes for young people.

This is a perfect partner for GMCU; our region’s future is our youth and the more help they have through the difficult, and vital, years, the better for everyone.

When I spoke with Greater Shepparton Lighthouse Project executive officer Amy Robinson, she was keen to send a few words of thanks.

“Lighthouse could not achieve what we do without the support of organisations like GMCU,” she said.

“Their contributions — whether through collecting Christmas presents, volunteering or fundraising — help strengthen our impact.

“The more businesses and community groups that are involved, the greater the reach of our programs, and the better outcomes we can achieve for young people and families in Greater Shepparton.

“We are enormously grateful to GMCU for their support and leadership in contributing to a better community.”

It seems to me that Dave Drummond is one of those people who is everyone’s best mate; relaxed, approachable, experienced and at ease with himself.

I asked him the obvious question: “Why are you still here after 41 years?”

And he gave me the expected response: “Because it’s a great place to work.”

He also has a reasonably good handle on the history of the establishment, giving me a written history of credit unions.

(The first credit union was established in Germany in 1848 by a man called Friedrich Wilhelm Raiffeisen.)

It's more than a bank

GMCU is a part of one of those win/win situations, about which I have written many times (because I love it when everyone benefits).

The members benefit from really great service from local people — and this I can testify to.

GMCU benefits by having sufficient funds to enable growth and to take care of its members with up-to-date technology.

The communities benefit from substantial support from GMCU.

And, the more members the credit union has, the more everyone benefits.

You might remember that I replaced my car with a newish one — and that it took three months for my three sons to agree on what I should buy!

Finally, one son was going to Melbourne to collect it and I needed to pay for it.

And I was incredibly nervous about that.

He didn’t want to carry a substantial wad of cash — so I contacted GMCU and the young lady was incredibly patient with me.

She explained when and how to do what I needed to do, checked in with me when the time came — and afterwards.

I had imagined it to be much more difficult than it was, but it felt as if I had a friend holding my hand.

This is a special year for our credit union, and I hope it is a year of substantial growth.

If you are not a member, please give it some thought.

We will all benefit from that.

Thanks

Because I have a tendency to overwrite, I haven’t been able to keep you up to date with some of the correspondence.

Collier McCracken said that he’d been waiting 91 years for his five minutes of fame, and it came in abundance.

He reckons he heard from every band, from everywhere.

Margaret Farrell said she had great feedback and was even stopped by strangers when she was shopping.

She also helped me find a good hairdresser!

There was a lot of response regarding the story about Shepparton’s hot air balloon and the demise of Puff.

I’m told there was interest from as far as Brisbane.

And Margo has a piece of Puff — put away for safekeeping.

She’s still looking for it.

And, as a result of his story, Keith Raftery had a visit from old friends — next-door neighbours, in Melbourne, in the 1960s.

He says they had a lot to catch up on.

I’m constantly surprised at how far, and how quickly, the written word moves around — in this astonishing age.

A couple of years ago, I was quite blown away by an email from the United States, regarding a story about Radio Australia.

I think of myself, sitting at my small (and, at the moment, very untidy) desk, writing a small story for a few people I’ve got to know.

International Women’s Day is on March 8 and I’ll be chatting to one of Shepparton’s busiest women.

I think the communities of Greater Shepp are wonderful and that this newspaper, as a whole, is a huge contributor — helping to keep us all connected.

My love to you all.

If you are feeling a bit low, find something to laugh at; it’s good for your heart.

May it be easy, my friends.

Marnie

Email: towntalk@sheppnews.com.au

Letter: Town Talk. The News. P.O. Box 204. Shepparton 3631.

Phone: Text or call 0409 317 187