IMB welcomes special guest at 135th birthday

Just as chief executive Robert Ryan was about to perform the official cake cutting duties, in walked Percy Di Leva who told them he had been a member for 70 years.

Mr Di Leva immediately struck up a conversation with Mr Ryan and former state MP Terry Rumble, telling them how his parents became members in 1929 and he had been a member since 1945.

‘‘I just came in because I knew it was IMB’s birthday,’’ he said.

‘‘When my parents first did business when we came from Sydney in 1929 I was only seven years old. My parents borrowed from the IMB for a house they lived in Corrimal Street, Wollongong and my mother lived in that house for 70 years.’’

Mr Rumble said he became a member when he was a 16-year-old, opening his first savings account in 1959.

‘‘I joined the IMB because they were paying more on bank deposits than what the banks themselves were paying,’’ he said.

‘‘And I have also heard from some of the older members of the IMB that they didn’t take any money during the depression years.

‘‘They didn’t get any interest for a few years but they did not lose any of their capital investments. I have always been very satisfied with their service.’’

The 135th birthday is a big milestone for Illawarra’s second oldest business and part of the celebration on Tuesday involved delivering birthday cake to the oldest business in the region, the Illawarra Mercury.

It was the start of a year-long celebration that will reflect on everything that has happened during the last 135 years.

It was formation when a few Illawarra residents got together in 1880 to open the doors of the Illawarra Mutual Building Society.

During the last 135 years the IMB has gone from several businessmen providing money so local residents could build their own homes to more than 500 staff, 44 branches (including 13  in the Illawarra) and around 180,000 members.

It offers a full range of banking and financial services products and its member base has expanded nationally.

Board chairman Michael Cole said it was a privilege to be involved in such a long-standing Illawarra business that had played such a significant part in so many lives.

‘‘IMB has weathered two world wars, a depression and many other turbulent financial periods and it remains a strong and competitive alternative to the major banks,” Mr Cole said. 

‘‘Without the ongoing support of the people of the Illawarra, we would not have gone from strength to strength and we thank the community for its continued confidence in IMB.’’