Financial Strength
The Rock Building Society has a very strong balance sheet. The majority of The Rock's loans are secured by first mortgage over residential real estate and all loans over 80% LVR are fully insured against any loss with recognised mortgage insurance companies with arrears well below the market average for housing loans. The rest of our assets predominantly comprise bank bills and deposits with other Approved Deposit Taking Institutions (ADIs) supervised by the Australian Prudential Regulation Authority.
The Rock's financial strength is also derived from the following facts:
- The Rock is a very conservative business;
- The Rock has no equity investments;
- The Rock does no commercial lending;
- The Rock has no exposure to credit cards; and
- The Rock has a strong branch and mini-branch network, which will further enhance its retail deposit base.
Government Guaranteed Deposits
Our rock solid reputation has been further cemented thanks to a Federal Government guarantee on all deposit funds up to $250,000 placed with building societies, credit unions and banks. Deposits for each individual name or entity (company, tryst, etc) is guaranteed up to $250,000 at no cost to the account holder.
Deposits held with The Rock Building Society, in our deposit and term accounts, are guaranteed by the Australian Government.
Therefore, the only differences between banking with our big city competitors and The Rock are we offer award-winning and friendly customer service and directly support local communities through employment; an extensive sponsorships and donations program; and returns to local shareholders.
Regardless of the Federal Government guarantee, The Rock enjoys an extremely strong position in the financial services industry with no direct exposure to sub-prime lending, commercial lending or equity investments, or credit cards.
For further information regarding the Federal Government Guarantee on deposits please read the latest Federal Government information or contact us directly on 1800 806 645.
