Strength & Security…

Holiday Coast has been in the business of looking after its member's funds since 1967. We've partnered with our member-owners when the economy has thrived and when it has struggled, and as in the past, we will continue to work with them as we navigate through the current economic conditions.

We offer conservative, strong and member-focused banking to more than 31,000 members, the majority of whom like you and I live on the Holiday Coast and the Maitland area. Members are well serviced with 17 branches, a kiosk and 2 agencies as well as internet and telephone banking.

Holiday Coast Credit Union has a strong capital base, which serves to back your deposits. What's more, we don't invest in things that are risky or unknown.

Our deposit book continues to grow as members choose Holiday Coast to look after their hard earned savings, and provide their banking needs.

Our members' deposits are primarily used to lend to hard working people in the Holiday Coast and Maitland regions of New South Wales - our friends and neighbours essentially - to buy their homes, cars and other personal assets with a small portion lent to small business members. In all cases loans are granted by reference to the Board approved conservative lending policies with the majority of funds lent secured by residential mortgages.

Up until the 28 November 2008, all deposits with Authorised Deposit-taking Institutions (ADIs) (of which Holiday Coast Credit Union Ltd is one) were fully covered by the legislated Government Guarantee as announced by the Prime Minister 12 October 2008.

From 28 November 2008, deposit amounts over $1 million had the option of being guaranteed for a fee, but this facility was withdrawn by the Government effective 24 March 2010.

Deposits up to $1 million continue to be covered by the "free" legislated guarantee.

The Australian mutual credit union and building society system is robust and strong, with combined assets exceeding $71 billion, and more than 4.5 million members.The Australian credit union system has a solid deposit base, a sound portfolio of loans to Australians, and prudent capitalisation levels.

Refer to the attached Facts Sheets for more information.

Growing from Strength to Strength Fact Sheet
Facts & Figures Fact Sheet