Deposit_guarantee_badge.pngAs an authorised deposit-taking institution, Queensland Country Bank automatically provides all Members with a government backed guarantee regarding the safety and security of your deposits.

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection to deposits in banks, building societies and credit unions, in the unlikely event that one of these financial institutions fails.

Under the FCS, deposits are protected up to a limit of $250,000 for each account holder at each bank, building society and credit union that is incorporated in Australia and authorised by the banking regulator, the Australian Prudential Regulation Authority (APRA).

The FCS applies to all transaction, savings and investment accounts held with Queensland Country, including the Retirement Savings products and Mortgage Offset accounts. It does not, however, apply to credit balances held on credit card facilities or other loans.

Queensland Country Bank remains in a strong financial position and is well equipped to meet any challenges the current situation brings.

Two of the crucial indicators of a bank’s safety and security are the amount of accumulated capital and liquid funds we hold. In Queensland Country’s case, both these measures are well above the minimum requirements required by our regulator, the Australian Prudential Regulation Authority (APRA).

At 16%, Queensland Country’s capital ratio is significantly higher than minimum requirements. Further, our liquidity ratio (a ratio that measures the liquid funds we hold against total deposits) of 16% is also well in excess of the minimum levels required.

The combination of this strong financial position, and the added peace of mind provided by the FCS, can provide Members with confidence that the funds they hold with us are safe and secure.

For more information regarding the security of your deposits with Queensland Country, please feel free to contact us on 1800 075 078