Extensive regulation of the finance sector and political moves to extend this became a growing concern for finance companies in the 1960s. While the number of companies operating in the sector was not large, rapid growth was being experienced as post-war development gained momentum, underpinned as it was by a rising population and with full employment.
It was against this background that Dr Otto Heymann, General Manager of UDC Finance (and a former banker in pre-war Germany), advocated to his peers the need for the sector to have a voice with government and to facilitate liason with other industry groups.
This advocacy was effective and in June 1965 the NZ Finance Houses Association was formed. In 1987 the name was changed to Financial Services Association. In 1989 a merger took place with the Mortgage Lenders Association (formally the Building Societies Association) and the name was changed to Financial Services Federation Inc. (FSF).
Today, the FSF represents a diverse membership of financial institutions providing a range of vehicle, equipment, asset, property, business and consumer finance in New Zealand.