The OCA was founded in August 1920 by fraternity from both the BBC and its Old Boys, with the ultimate formation of the BBC Old Collegians' Association. The first meeting was chaired by BBC founder Mr Arthur (Barney) Rudd and from that meeting, provisional articles of association were submitted to a general meeting in September of the same year. From that latter meeting, Mr Rudd became the first president of the OCA.
The purpose of the association was to foster fellowship and support the funding of scholarships for the sons of the Old Collegians through endowments. As well the Old Collegians played a role in creating a sense of tradition and permanency of the College community.