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Strict Australian regulation protects your deposits with Australian Mutual Bank Ltd. 

Australian Mutual Bank Ltd meets the same strict standards as all Australian banks, building societies and credit unions under the Banking Act with oversight by the Australian Prudential Regulation Authority (APRA). APRA’s rules on safety and capital apply to all banks, building societies and credit unions to the same high standards.


What is the Financial Claims Scheme?

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails. Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA). In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.


How is the FCS limit applied?

The FCS limit of $250,000 applies to the sum of an account holder's deposits under the one banking license. Therefore, all deposits held by an account holder with a single banking institution must be added together towards the $250,000 FCS limit, and this includes accounts with any other banking businesses that the licenced banking institution may operate under a different trading name.

Australian Mutual Bank Limited operates as:

  • Sydney Mutual Bank 

  • Endeavour Mutual Bank

under which accounts would be aggregated for the purposes of determining the FCS entitlement when generating the Single Customer View (SCV).


Where can I get further information on the FCS?

Information about the scheme can be obtianed from the APRA website at: http://www.apra.gov.au and the APRA hotline on 1300 13 10 60.