UDC history page
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1937-1947
UDC began life in 1937 but building a credible commercial lending business at this time was tough. Fortunately Financial Services Limited, as UDC was then called, had a talented and determined Board of Directors.
Image courtesy of Alexander Turnbull Library (PACOLL-8846)
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1947-1957
1947 – 57 was both a time of austerity and isolation and a time when New Zealand began to build in confidence; UDC played its part providing commercial backing to home grown businesses like mower company Masport and Hamilton Jet Boats.
Image courtesy of Alexander Turnbull Library (F-20196-1/2)
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1957-1967
Was there ever a decade like the 60s? For New Zealand too this was a time of change; Auckland International Airport and Harbour Bridge opened and the Cook Strait ferry service began. UDC developed rapidly, amalgamating with other smaller finance companies to back the exciting ambitions of a young nation.
Image courtesy of Alexander Turnbull Library (WA-48833)
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1967-1977
The 1970s heralded the arrival of colour TV and a new era of technology-driven development, dollars and cents and metric weights and measures. UDC was prudent when capital and income had been in short supply and was now able to finance the equipment needs of growing domestic industries.
Image courtesy of Alexander Turnbull Library (F-1566-35MM-8A)
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1977-1987
Turbulent times in the 1980s as economic de-regulation arrived and New Zealand had to compete on the world stage. UDC, as it had done before, stuck to its core purpose, funding the heartland businesses of NZ when others were seduced by the glamour of global financial opportunities.
Image courtesy of Alexander Turnbull Library (EP/1984/2791/16)
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1987-1997
Following the share market crash of 87 UDC’s commitment to more conservative and prudent policies was once again vindicated. Despite this being a time of rationalisation, UDC enjoyed success backing the technology revolution sweeping the free market economy.
Image courtesy of Corbis
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1997-2008
The turn of the century saw an increasing population and a booming property market. But as a global financial crisis hit in 2007/8, many finance companies involved in property crashed. UDC which had steered clear of investing in property development, had its impressive AA credit status re-confirmed by Standard & Poor’s and continues to succeed as a profitable business.
Image courtesy of Getty Images