Aust. Government Guaranteed Deposits

On the 10th September, 2011 the Federal Government made alterations to the Government Guarantee Scheme.

The Financial Claims Scheme (FCS) protects depositors through the provision of a guarantee on deposits (up to the cap) held in authorised deposit-taking institutions (ADI's) incorporated in Australia and allows quick access to their deposits if an ADI becomes insolvent.

Vintage photo of firetrucksFirefighters Credit Co-operative was formed from the idea of the welfare officer from within the Metropolitan Fire Brigade (Mr Fred Tyson) being concerned with the welfare of firefighters and their families facing financial hardships in 1974.

After a series of meetings held in early 1975 in the old Eastern Hill fire station flats, a steering committee was formed and the Co-op was finally incorporated in February 1976. Formerly known as the UFU Credit Co-operative it was run on a volunteer basis with assistance from United Firefighters Union.

Firefighters Credit Co-operative Staff
General Manager
Bob Malcolm

Operations Manager
Rhonda Kirby

Field Officer

David Whyte

Senior Loans Officer
Mark Goodwin

Member Service Officer

Member Service Officer
Marian Elliott

Member Service Officer
Rhonnda Sayers

fcs logo

Financial Claims Scheme (Federal Government Deposit Guarantee)

The Financial Claims Scheme (Federal Government Deposit Guarantee), managed by APRA, provides protection for your deposits. It means that the combined value of customer’s deposits/investments up to the value of $250,000 held by Firefighters Credit Co-operative are guaranteed by the Australian Government.

The key responsibilities of the Board include:

Strategy and Policy

  • Approving the strategic direction of the Credit Co-operative.
  • Monitoring the implementation of current strategic initiatives to ensure they are on schedule, on budget and producing effective results.
  • Ensuring all major business risks are identified and appropriate policies are in place to effectively manage those risks.
  • Approving major decisions, and, where appropriate, making recommendations to members via general meetings.
  • Delegating appropriate authority to the Chief Executive Officer.
  • Overseeing the establishment and maintenance of reporting systems and internal controls.
  • Establishing appropriate communication structures with stakeholders.
  • Ensuring an effective committee structure is in place to support the Board in its decision making process.
  • Reviewing Board processes and effectiveness, including succession planning for the Board and key executives.

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