Frequently Asked Questions
Here we try to answer some of the more common questions that our members ask about Nurses First. If you don't find what you are looking for here, please contact us by making an online enquiry, visiting our branch or by calling a Member Services Consultant on 13 25 77, 8:30am to 8:00pm Monday to Friday.
How do credit societies compare to banks?
Credit societies are financial co-operatives. Members save together and lend to each other for mutual benefits. Banks are private or public owned institutions that operate to serve customers and generate profits for shareholders.
Is Nurses First as safe as a bank?
Yes. And many would argue that your funds are even more secure with us.
All financial institutions, whether a bank, building society or credit union, are regulated by APRA, under the same laws and prudential standards. One of the key prudential standards is Capital Adequacy. As at 30 June 2002 our parent company Police & Nurses Credit Society achieved a Capital Adequacy Ratio of 15.3% - nearly twice the 8% minimum requirement for banks, building societies and credit societies in Australia.
How can Nurses First provide fee-free banking when big banks can't?
At Nurses First, we help each other to achieve financial freedom. Recognising the benefits of electronic banking, our members have become early adopters of telephone and internet banking. High usage of Phonelink and Netlink lets us provide members with fee-free banking.
Also, because we operate as a credit society, Nurses First is equally owned by all members. Since we don't have to pay out big dividends to external shareholders ALL profits are returned as benefits for members, helping us to reduce and remove fees and improve our banking solutions.
How do I switch to Nurses First?
Thousands of Australians switch to credit societies each year. They believe the long-term benefits of better service levels and lower fees are worth any short-term hassles and exit fees from banks.
To find out how to move your accounts over to Nurses First call us on 13 25 77 or visit our branch at 550 Swanston Street, Carlton. Alternatively, call us to make an appointment with a Mobile Consultant who can visit you at home or work. We will discuss your individual banking needs with you and suggest the best combination of services. We can also assist you with the process of closing accounts and dealing with any short-term hassles from your bank.
Our website also offers a step by step guide on how to switch your accounts to Nurses First.
I haven't banked online or by telephone before, can Nurses First show me how?
Yes - our friendly Member Services Consultants are available to teach you how to access and manage your accounts online or by telephone. Visit our branch at 550 Swanston Street, Carlton or call 13 25 77 and we can talk you through it.
I don't have a computer. How can I access your website?
Nurses First will be launching Nurses First Web Kiosks with free internet access to www.nurses1st.com.au in many hospitals across Melbourne. Please phone our Member Services Consultants on 13 25 77 to find out if there is a Nurses First Web Kiosk in your hospital. You can also access www.nurses1st.com.au in Internet Cafes and many public libraries.
Is it secure to bank online or over the phone?
Online and telephone banking is becoming increasingly popular around the world. Financial institutions are required to meet strict regulations to protect their customers. At Nurses First we meet the strictest security regulations. We use a range of security measures to provide our members with safe and secure online and telephone banking.
What is the BSB number?
Nurses First's BSB number is 806-015.
How long do cheques take to clear?
Typically, cheques deposited at giroPOST locations around Australia will take 7 working days to clear.
Who is the CEO?
Nurses First's CEO is Mr Fred Huis. Fred has successfully operated Police & Nurses Credit Society in WA for over 20 years. Under his management, membership has grown to more than 75,000 members and, in a recent member satisfaction survey, 87% of members expressed satisfaction with services.
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