Pyramid Permanent Building Society

Description

Agent TypeOrganisationActivities & OccupationsBuilding SocietiesHistoryThe Pyramid Permanent Building Society was formed at a meeting of interested persons in Geelong, Victoria, on 7 September 1959. Mr R G Farrow was appointed its first Secretary and Mr V Andrews was appointed its first Chairman of the Board. Pyramid grew rapidly when legislation changed in the mid-1960s to allow building societies to take deposits from the public. It took over control of the Geelong Building Society in 1971 and in 1984, the Third Extended Starr-Bowkett Building Society. In early 1990 the Society collapsed leaving a debt of over two billion dollars.

Accession

University of Melbourne Archives

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Pyramid Permanent Building Society