The Wallis Lake Fishermen’s Co-op first came into effect on the 27 May 1947.
The Co-op became the voice of the fishermen of the area. It formed the central receiving depot to handle the catch and distribution daily. It became a group purchasing agent, where the supplies of equipment, fuel etc required by the fishermen could be purchased in bulk and sold to its members.

Many of the fishermen today are children, grandchildren and great grandchildren of the first fishermen to form the co-op back in 1947.