Horizon Bank history

In 1913, Citizens Bank opened its doors in a new building with a massive 12-ton Diebold vault door that was so perfectly balanced that a child could open it.

Was formed in 1963 as Bega Valley County Council Employees Credit Union Ltd.

Council granted permission for a meeting to be called and on the 20th day of November, 1964, the formation meeting of the Credit Union was held.

At the formation meeting, Mr Syer had promised payroll deductions for credit union members, and these commenced on the 22nd day of January, 1965.

Lysaght Credit Union was formed in May 1966 and was known at that time as Lysaght Employees (Port Kembla) Credit Union Ltd.

In 1973, when bank officials broke ground on a new Citizens Bank building – the current building that is standing today at 502 Franklin – an underground spring was hit while digging for a basement.

In 1974 the credit union expanded to cover other local councils and the name was then changed to Bega Valley Credit Union Ltd.

Our current Corporate Headquarters located at 515 Franklin Square: According to a January 1977 ad, the triangular shape of the new building was chosen to represent the three sides of banking: personal, commercial and industrial.

The Bega Valley Credit Union Ltd transferred to Illawarra County Council Staff Credit Union Ltd in May 1980.

The Bank was renamed Horizon Bank in 1997.

On the 2nd of September 2019, Horizon Credit Union Ltd began trading as Horizon Bank.

The merger with IberiaBank Corporation closed on July 2, 2020.

55 years later, members of Lysaght Credit Union Ltd voted to merge with Horizon Bank at a Special General Meeting which resulted in the merger taking effect on April 1, 2021.