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Government deposit guarantee
Government deposit guarantee - EECU
| What is the Government deposit guarantee? |
| Deposits in APRA regulated Authorised Deposit-taking Institutions (ADIs) –banks, building societies and credit unions – are guaranteed by the Australian Government. This means that a full Government guarantee stands behind deposits in all Australian banking institutions, including EECU. Since 1 February 2012, the Federal Government has set up a permanent deposit guarantee and guarantees deposits of up to $250,000 (per person per institution) at any ADI. There are also transitional arrangements in place for all term deposits made prior to 1 February 2012. |
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| Abacus - Fact sheet on Government deposit guarantee |