On 27 May 1947, with a total share holding of two hundred and twenty eight the Wallis Lake Fishermen's Co-operative Society came into effect.

Mr. Tom Dent was the first manager, followed by Joe Blackburn and Albert Bulmer. Later Mr. Allen Collins took over and was in charge until the mid 1950s.

The Co-op immediately became the voice of the fishermen of the area. It formed a central receiving depot to handle the catch and effect its distribution. It became a group purchasing agent, whereby the supplies of equipment, fuel, etc. required by the fishermen could be purchased in bulk and sold to members.

A radio was provided to monitor calls from the open sea fishermen. A cool room built for the storage of fish when required and an ice making plant, these were extended in 1964. Their own trucks transported the catch.

Figures of 1980, showed one hundred men occupied in the fishing of the estuary and twelve trawlers with some twenty five men.

Bringing the Co-op information up to date, in 1998 there are now ninety fishermen on the pay roll with seven fish and prawn trawlers and eight lobster and fish trap boats. The balance are estuarine fishermen in Wallis or Smiths Lakes fishing for crabs and prawns, meshing or setting nets.