Government deposit guarantees for your peace of mind
After the financial crisis of 2008, the Australian Government introduced a number of measures to reassure the public that Australian Authorised Deposit-taking Institutions (ADIs) including Nexus Mutual were safe and stable.
From 1 February 2012, deposits up to $250,000 held with ADIs have been guaranteed by the government under this scheme. This means that your money is guaranteed if anything was to happen to Nexus Mutual or any of the other ADIs.
The guarantee applies to balances up to $250,000 for all of Nexus Mutual’s deposit accounts including:
- Access accounts
- Direct Saver
- Bonus Saver
- Home Saver
- Junior Saver
- Cash Management
- Negotiated Deposit
- Classic Term Deposit
- Regular Income Term Deposit
- SMSF and Family Trust Term Deposit
If you hold an account in joint names, each individual account holder is entitled to an individual guarantee up to $250,000.