THE PROPOSAL
In Wollongong, a small agricultural town south of Sydney, moves were afoot to build the foundation for a building society. As 1880 opened, Mr Robert Boyd wrote a letter to the Wollongong Argus describing the advantages of a building society to working men, “enabling them to become their own landlords, and to stand on the threshold of their own door and with justifiable pride exclaim ‘This is my own home!’”
The application was signed on April 6 and by April 10, the Illawarra Mutual Building Society was a reality.
Pictured: This 1887 illustration of Wollongong shows a growing port and agricultural hub.