Highlights
37
Mutual ADI’s
24
Credit Unions
13
Mutual Banks
$56bn
CUFSS members balance sheet assets
Who is CUFSS
CUFSS was established in 1999, by 180 Credit Unions and Cuscal (Note 1) during the transfer to Commonwealth regulation, which replaced statutory provisions under the state-based Financial Institutions (FI) regulatory scheme.
Background and History
CUFSS was established in 1999, by 180 Credit Unions and Cuscal (Note 1) during the transfer to Commonwealth regulation, which replaced statutory provisions under the state-based Financial Institutions (FI) regulatory scheme.
Assets & Operations
CUFSS has been pro-active in monitoring Mutual ADI performance and where necessary in consulting and conducting reviews and on-site assessments on a number of credit unions ... (cont)
Has the CUFSS emergency liquidity support system been successful?
Well in our view the answer is absolutely because since its formation:
- No depositors have lost deposits or the interest due on them;
- No Mutual ADI liquidations or adverse reputation media stories about Mutual ADI safety have occurred ... (cont)
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CUFSS Ltd is the Australian Mutual banking industry self-funded and operated emergency liquidity support scheme
CUFSS Ltd is the Australian Mutual banking industry self-funded and operated emergency liquidity support scheme