gmcu's combined history dates back to 1955;  six credit unions amalgamated into one to form gmcu as it is known today.

Seymour Credit Union (1963 - 1982)

Formed in 1963 as the St Mary’s Seymour Co-Operative Credit Society Limited, it occupied offices in Tallarook Street and in the old town hall before moving to its current location at 72 Station Street in 1980. In 1982 it had 2,226 members.

Numurkah Credit Union (1972 - 1984)

Formed in 1972 with the support of the Goulburn-Hume Region Alliance of Credit Unions, it occupied premises at 66 Melville Street and later moved to the existing premises at 102 Melville Street. 

Kyabram Credit Union (1966 - 1985)

Formed with eleven members in 1966 as the Kyabram & District Credit Co-Operative Limited operating from the St Augustine’s Parish Hall, moving to premises at 228 Allan Street in 1968 and to its current location at 145 Allan Street in 1974. In 1985 it had 5,093 members, $6.9m in deposits and $4.9m in loans.

Rich River Credit Union (1984/85)

Formed as a branch of the Kyabram Credit Union in 1984 operating from premises in Pakenham Street.

North East Credit Union (1955 - 2005)

Benalla St. Joseph's Co-operative Society Ltd was registered in 1955 and later re-named Benalla Citizens Credit Co-operative Ltd. In 1996 it became North East Credit Union Co-operative. It has operated from premises at 50 Bridge Street and moved to its current location of 32 Bridge Street in 1994. In 2005 it had 2,084 shareholders, $11.6m in deposits and $8.5m in loans.

Shepparton Credit Union (1965 - 1985)

In 1965 two new credit unions were established in Shepparton to service the financial needs of the local parishioners from St Brendan's and St Mels. However, with the member base limited to the parishioners, a realistic business operation was almost impossible and four years later, in 1969, these two credit unions were amalgamated to form the Shepparton District Credit Union Co-operative. The following year, on 1 March 1970, Shepparton Credit Union became registered to serve all people within 15 miles of the Shepparton Post Office as well as those who shop regularly in Shepparton. The business was transferred to the registered office of the Co-operative Housing Societies in High Street.

The board of Directors soon realised that a foundation had been laid to develop a multi-million dollar community co-operative capable of providing essential financial services to all people living in Shepparton and the surrounding districts. A campaign targeting local businessmen and residents was developed and $50,000 was received in fixed deposits. On 27 June 1972, the registered office of the Shepparton Credit Union was opened at 12 Fryers Street.

The Shepparton Credit Union grew steadily and, in September 1975, was responsible for $1million in members' deposits. It soon became obvious that the office space was inadequate and the building at 341 Wyndham Street was purchased and renovated. When the staff relocated in February 1977 it was anticipated that the new premises would be adequate for a further six to eight years, allowing for average growth in the membership rate. However, the community's confidence in the credit union grew at such a staggering pace that, later that year, the credit union achieved the milestone of $2million in members' deposits.

By mid 1979, the membership had almost doubled and members' deposits had increased to $5million. Space again became an issue and larger premises were found at 91-95 Fryers Street, which remains the site of the credit union today.

The growth in population of Mooroopna saw the opening of a branch office in 1985 to service the growing number of members.

Goulburn Murray Credit Union Cooperative Limited

In June 1985 the credit union became Goulburn Murray Credit Union Co-operative Limited, to reflect the inclusion of merged credit unions, and the bond area became 'the area bounded by the Shires of Rochester, Waranga, Goulburn, Seymour, Pyalong, Kilmore, Broadford, Yea, Healesville, Alexandra, Shepparton, Cobram, Numurkah, Nathalia and Deakin'.

In 1985, membership stood at 17,580 with savings deposits of $21million and loans outstanding of $15.7million.

In 2002 it was decided to establish a branch in Kilmore.

In 2005 the number of shareholders rose to 23,095, savings deposits to $104.9million and loans outstanding of $98.4million.