Government Savings Guarantee

On the 12th of October 2008, the Federal Government announced it will guarantee deposits in Banks, Credit Unions and Building Societies for a period of three years.

This guarantee applies to deposits held with the Fire Brigades Employees' Credit Union.

On the 24th of October 2008, the Federal Treasurer Mr. Wayne Swan announced that a threshold of $1 million will be implemented, over which a fee would be charged to receive the benefits of the deposit guarantee. The fee will apply from the 28th of November 2008.

Your Credit Union Board of Directors met on the 19th November 2008 and made the decision not to offer the guarantee past the first $1 million per account.