Horizon Bank is an award winning, customer-owned financial institution located on the NSW south coast. We provide a full range of banking products & services across nine branches and hold assets in excess of $560 million.

As a mutual organisation, Horizon Bank exists for the benefit of, and is proudly owned by, its customers.

Horizon Bank has transformed, adapted and evolved over the years ever since it began in 1964 as a credit union with the goal of creating the best quality products and services for all of our customers. Our values are as follows:


Our Environmental Responsibility - Green Horizon Initiatives

'Green Horizons' is a key strategic initiative of Horizon Bank to be, and be seen as being, a responsible & influential environmental citizen.

This initiative supports Horizon's strategic citizenship goal 'To contribute meaningfully to the environment, the community and the mutual industry'.

The motivation for implementing 'Green Horizons' is our environmental concerns and the alarming rate of global warming. Dire consequences are likely to result if changes aren't made to the way in which society manages resources and our carbon emissions. Our environmental position is: Horizon Bank is a responsible and influential environmental citizen, as such, Horizon Bank does not directly invest in, or provide loans to, any company in the fossil fuel industry.

There's a lot we can do to reduce our footprint on the environment. The following business activities are just the start:

Green Power

For our use of renewable energy sources in our head office and subsequent branches Horizon has earned itself a GreenPower tick of approval from the National GreenPower Accreditation Program, whose mission is to decrease greenhouse gas emissions from the generation of electricity.

Our energy supplied to our head office building and each of our branches provides us with the equivalent energy produced from renewable sources, avoiding the use of coal-derived power.

To find out more about GreenPower visit the GreenPower website.

Recycling and Reducing Paper Usage

Horizon have installed printers with double sided printing capabilities and encourage each of our branches and head office to save paper this way. All our Horizon letterhead is made of 100% recycled paper. We aim to recycle all that we can in the workplace. We also participate in a program to recycle all our used printer cartridges and drums.


Reforestation Scheme

In partnership with our printer & photocopier supplier, Horizon participates in a reforestation scheme which plants trees in lieu of paper we consume.

Horizon Bank has nine branch locations. The contact information for each, can be found here.


In 1964, Stan Arneil, who was the Government appointed organiser of Credit Unions at that time, visited Wollongong and spoke to various employees of the Illawarra County Council regarding the possibility of forming a Credit Union. 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.

The then Chairman of the Illawarra County Council, Alderman F Finch, was present, together with the County Clerk, Mr M J Syer. Mr Syer read a letter of congratulations from the Hon. A A Landa, Minister for Co-operatives. At this meeting, the Credit Union Rules, which had previously been drafted, were adopted.

It should be noted that the Aldermen and Officers of the Illawarra County Council had given their full support and assistance to the Credit Union at its inception and continued to contribute to its success. At the formation meeting, Mr Syer had promised payroll deductions for credit union members, and these commenced on the 22nd day of January, 1965.

The first Loans Committee was elected at the January meeting. The first loan was for the sum of $80.00 for the purchase of a vacuum cleaner. At the February 1965 meeting of the Board of Directors, this Credit Union with its 33 members, became affiliated with the New South Wales Credit Union League, (now Cuscal), whose assistance during the years, and particularly in our infancy, has been invaluable.



The initial rules for the Illawarra County Council Staff Credit Union provided that only employees of the Council could join the Credit Union. This rule remained unchanged until September 1971, when members approved a change allowing family members to join. However the most significant membership rule change was that of the transfers of engagements of the following Credit Unions:

Bega Valley Credit Union Ltd

Was formed in 1963 as Bega Valley County Council Employees Credit Union Ltd. In 1974 the credit union expanded to cover other local councils and the name was then changed to Bega Valley Credit Union Ltd. The Bega Valley Credit Union Ltd transferred to Illawarra County Council Staff Credit Union Ltd in May 1980. Bega Valley Credit Union had assets of $500,000 and 450 members at the time of transfer. Following the transfer, the name was subsequently changed to ICC Mutual Credit Union Ltd.

Wollongong City Council Employees Credit Union Ltd

Was formed in 1964 and transferred to ICC Mutual Credit Union Ltd in December 1982. The statistics at the time of transfer were as follows: assets $2,675,000, membership 1400. Following the transfer, the name was changed to Southern Counties Credit Union.

Candelo Community Credit Union Ltd

Was formed in 1956 and transferred to ICC Mutual Credit Union Ltd in December 1982 at the same time as Wollongong City Council Credit Union. Candelo had assets of $41,000 and their members totalled 180.

Illawarra District Hospitals and Ambulance Employees Credit Union Ltd

Was formed in 1967 and transferred over to Southern Counties Credit Union in May 1983. Their assets were $257,000 and they had 360 members.

Shoalhaven City Employees' Credit Union Ltd

Was formed in 1967 and transferred to Southern Counties Credit Union in March 1995. Their assets at that time were around $22 million and their members totalled 5,000. The name of our credit union was changed at that time to Horizon Credit Union Ltd.

Eurobodalla Credit Union Ltd

Eurobodalla Credit Union was formed in June of 1971 and transferred to Horizon Credit Union on the 1st of May 2009. Their assets at that time were around $3m and they had 684 members.

Horizon Bank

On the 2nd of September 2019, Horizon Credit Union Ltd began trading as Horizon Bank. The assets at that time were $376m.

Lysaght CU Merge with Horizon Bank

Lysaght Credit Union was formed in May 1966 and was known at that time as Lysaght Employees (Port Kembla) Credit Union Ltd. 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. At the time of the merger Lysaght Credit Union had 2,300 members and assets of $98 million. The merged entity resulted in assets in excess of $560million, over 17,000 customers and 9 branches spanning the Illawarra and South Coast.

Read about our Board of Directors, Annual Reports and more here.

The Customer Owned Banking Code of Practice (COBCOP) is the code of practice for Australia’s credit unions, mutual banks and mutual building societies. You can view a copy of the Code here.

10 Key Promises

The Customer Owned Banking Code of Practice is how credit unions, mutual banks and mutual building societies will deliver on their pledge to always put customers first. Our 10 key promises to you:

  1. We will be fair and ethical in our dealings with you
  2. We will focus on our customers
  3. We will give you clear information about our products and services
  4. We will be responsible lenders
  5. We will deliver high customer service and standards
  6. We will deal fairly with any complaints
  7. We will recognise our customers’ rights as owners
  8. We will comply with our legal and industry obligations
  9. We will recognise our impact on the wider community
  10. We will support and promote this Code of Practice