On 12 October, 2008 the Federal Government announced that all savings at deposit taking institutions, including credit unions, will be fully guaranteed. This is a major national initiative to secure money in the banking sector.

It is not just this government guarantee that is important for our members.

We believe it is most important that you understand why your money is safe and secure with this credit union, even without the Federal Government’s guarantee.

• This credit union is in a very strong financial position. We continue to offer members very competitive rates for savings and investments and we do have money to lend.
• We have a strong balance sheet and we are well capitalised.
• We have robust capital adequacy and high levels of liquidity.
• We have always been a prudent and responsible lender and do not have exposure to the sub-prime market or risky securities based on sub-prime loans.
• We are conservatively managed and operated.

Like all mutual credit unions, we are not under pressure to take risks with your money. You are our shareholders, so we put your interests first.

Dealing with a local credit union means that your money remains in the local community. We also offer our members loans based on a responsible lending approach. In this way, you can be sure that we put your interests first.

More Information

• Changes to the Government deposit guarantee 8/02/10
• Fact sheet on the Government deposit guarantee 4/11/08
• Read our 2009 Annual Report

Questions?

If you have any questions, please contact us