A couple drowned in tragic circumstances at South Ballina beach in New South Wales, Australia.

Australian media said Carole Sherry, a 44-year-old school teacher, had swum out to help her children on the unpatrolled North Coast beach, but when she could not get back her husband Joseph, 42, went to her aid.

As his parents fought against the current, their nine-year-old son Nicholas ran to the nearby caravan park, where they were staying, to raise the alarm.

Elise, 14, used a mobile phone to call 000 from the beach, but by the time park residents and paramedics arrived, the surf was carrying Mr Sherry's body in to shore.

The local rescue helicopter and a Ballina Jetboat Rescue crew went in search of Mrs Sherry. Her body was only 50 metres from land when they found her.

The Jet Boat rescuers who retrieved her body said they had struggled to keep their heads above water.

The couple also have a 17-year-old daughter, Monique.

The victims were from Orangeville, west of Campbelltown.

The Sherry Family Memorial Fund has been established to assist their children, who are now in the care of relatives.

The fund has been set up by Lismore Police with assistance from the Hannah Foundation for drowning prevention and awareness.

Reports that Mr Sherry (Xerri) is of Maltese descent could not be confirmed.