Since 1974
On 28 August 1974, around fifty police officers gathered in the auditorium of the Russell St police station, and voted to establish a credit society and appoint the inaugural Board of Directors. The name ‘Police Association Credit Co-operative Limited’ was adopted and formally registered on 5 September, 1974.
Directors included Senior Sergeant Morrie Buchan, Sergeant John Clooney, Senior Sergeant Jack Cook, Senior Sergeant Bryan Kelly, Senior Sergeant Tim King, Sergeant Peter Ryan, and Sergeant Ron Clapton.
The Board met for the first time on 17 September, and elected Bryan Kelly as inaugural Chairman.
Ron Clapton was appointed the Co-op’s inaugural Manager (CEO), and would serve in that role until 1987.
John Whelan, an employee of the Auditor-General’s department and attached to the Fraud Squad, was appointed the first Auditor.
The co-op established an office in a converted storeroom in the Police Association building on 2 December, and received its first cheque on 5 December.
We moved to our own premises in Carlton, described by one customer as a “scungy little house” at 20 Drummond Street, in March 1975.
The still-popular home and station calendars were first published.
First computer installed, an ‘AWA Reality Computer’ with a $250,000 investment (equivalent today of $1.5 million).
We opened our membership to people working in Victoria's firefighting services.
The slightly-adjusted name of ‘Police Credit Co-op’ is adopted.
On 1 December, the first Co-op branch was opened at the Police Academy in Glen Waverley.
We provide free office space to Victoria Police Legacy, a close partnership we proudly continue.
The Co-op's Tele-Pay service is established.
Moved to 326 William Street, “our own home”, a building designed for and owned by the Police Credit Co-op.
We joined the Victorian Credit Cooperatives Association.
Phone-A-Loan established
The Police Credit Co-op celebrates its 10 Year Anniversary.
The iconic ‘Little Copper’ money box is introduced.
All Tele-pay transactions taped using 4 Doro 732 voice data units and two line logging recorders.
The Co-op launched its own PC insurance on 1 July 1986.
The first Police Credit Visa cards came into operation in August 1987 ("access your Co-op account no matter where you are in Australia").
On the retirement of Ron Clapton, Robert Newbound is appointed CEO.
BankVic extends shareholder membership to family members.
First Angela Taylor Memorial Walk/Run held, in memory of the young Constable killed in the 1986 bombing of the Russell Street police complex.
Head office relocates to 121 Cardigan Street, Carlton.
In 1991 the Co-op were awarded a composite CAMEL rating of ONE, the highest possible score. CAMEL is an acronym for Capital Adequacy, Asset Quality, Management, Earnings and Liquidity (the five critical factors in a credit union’s operations).
Membership reaches 30,000.
Membership is opened to the emergency services sector, including Ambulance workers, health workers and the public sector.
Introduction of rapid response service (hotline that gives members access to their accounts 24 hours a day, 7 days a week).
"Looking after our own", a history of the first twenty years is published.
World Trade Centre Branch (WTC) opens for business.
Members are able to access to all EFTPOS terminals Australia-wide.
We merged with Monash Credit Union and the new Monash medical Centre branch opens its doors (August).
We celebrate our 25th Anniversary.
Membership reaches 50,000
Our first website is launched: www.policecreditco-op.com.au
We introduced internet banking to enhance member access (including Bpay)
Personal chequebooks are introduced.
Fixed-rate home loans are first offered.
We celebrate our 30th anniversary.
Membership reaches 66,000.
Assets reach $470 million.
Home Loan Centre established in July.
PC Easy Loans online loan application introduced.
Peter Kempster is appointed CEO.
PC Visa credit cards are introduced.
Mobile Banking is introduced.
Assets reach $1 billion.
We win Money Magazine’s ‘Best Savings Account – Regular Deposit’
We embrace social networking, launching Facebook and Twitter accounts to stay connected to our members.
We are the first credit union in Australia to offer ‘PayAnyone’, an innovative and secure new mobile payment feature, which enables members to send money to a friend’s mobile phone or email address.
On 1 June 2013, we adopt the name BankVic, with the shield and stars logo connecting us to our Police heritage and our five member bonds.
We establish partnerships with Northern Heath, Western Health, the Mercy and St Vincent’s hospitals.
BankVic mobile app is launched.
We introduce the ability for members to change their Visa-card pins through internet banking.
We support the 2014 Police and Emergency Services Games.
Glen Waverley & City West branch opens its doors.
We move from Carlton to new offices in Spring Street in Melbourne’s CBD.
Stephen Capello is appointed CEO.
We introduce eStatements, to reduce our environmental footprint and save an initial 697 trees.
Membership reaches 100,000
Assets reach $1.5 billion.
Immediate payment service ‘Osko’ is introduced.
Anthony De Fazio is appointed CEO.
Apple Pay & Google Pay are introduced.
A TPAV Qantas Credit Card is launched.
Assets reach $2 billion.
The global coronavirus pandemic sees us, like most businesses, move to remote and hybrid working through various lockdowns.
Our remote contact centre was up and running within 24 hours, with staff continuing to support our members from home.
We set a target of reaching as many police stations in Victoria as we can under the circumstances, and get to 95% around the state.
BankVic becomes a certified B Corp in November.
A new branch opens at VPC in December.
A VAU Qantas credit card is launched.
Community partnerships reach $3.1 million.
Launched special edition visa debit card.
Assets reach $2.6 billion.
We establish a partnership with Crime Stoppers.
Community partnerships reach $3.5 million.
Head office relocates to 505 Little Collins Street in Melbourne’s CBD.
Assets reach $3 billion.
Community partnerships reach $4.7 million.
We celebrate our 50th Anniversary and reflect on five decades of being the bank for police, emergency and health workers.
