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MUCU is both safe and secure. As a whole Credit Unions are sound,
well-managed financial institutions that have been operating in
Australia for more than 50 years.
Credit Unions carry capital relative to their risk-weighted assets
that is well above the current levels of banks. Credit Unions also
provide an extra degree of protection for their members through
contributions they make to the Credit Union Financial Support System
(CUFSS).
CUFSS is an industry support scheme that provides deposit protection
specifically for Credit Union members. The scheme has been certified
by the Australian Prudential Regulation Authority (APRA), the prudential
regulator for all deposit-taking institutions, including Credit
Unions and banks.
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