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Government Deposit Guarantee

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Bank of Heritage Isle is an Approved Deposit Taking Institution (ADI) as are the banks. We are prudentially regulated by the Australian Prudential Regulatory Authority (APRA). All ADI’s are subject to the depositors protection provisions of the Banking Act of 1959.

As part of the new Financial Claims Scheme (FCS), the guarantee for all deposits up to $1 million held with Banks, Australian Banks, and Building Societies applied until 31st January 2012 and was replaced with a permanent guarantee of $250,000 from 1st February 2012.

Government Deposit Guarrantee

 Your Board and Management would like to communicate Heritage Isle's strong financial position and take this opportunity to assure our member-owners that Bank of Heritage Isle is a safe and secure financial institution worthy of your confidence. The foundation of our success has been our sound business practices and our commitment to protecting our member-owners’ assets.

Bank of Heritage Isle and other Banks meet the same strict, legally enforceable standards as banks under the Banking Act regulated by the Australian Prudential Regulation Authority (APRA). Banks are prudent and responsible lenders. Banks have the lowest levels of arrears in the Australian lending market.

On the face of things, credit unions and banks may look similar. We offer similar services and have similar products. But there is a distinct difference. Banks exist to make profits and pass the money along to their shareholders. Mutual Banks exist to serve their Members through people helping people.

We are committed to continuing to provide superior service while maintaining your trust and confidence.  

The Government Deposit Guarantee applies to our:


The Australian Prudential Regulation Authority has developed a dedicated Financial Claims Scheme (FCS) website with information for the public on how depositors (and general insurance policy holders) are covered under the FCS.  The website expands on existing information on APRA's website on the FCS, and provides information on key aspects of the scheme.


To find out more about the Financial Claims Scheme see below:

More Info


If you have any questions, please contact us