Water NSW issued a red alert level warning, a "high alert", for potentially toxic blue-green algae in the lake on Christmas Eve.

Under a red alert level, people are advised not to consume or come into direct contact with the water.

That was because this might cause reactions such as skin rashes or itchiness, sore eyes, ears and nose, or, if swallowed gastroenteritis, nausea or vomiting.

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Former Albury resident Ebony Walder said the alert wouldn't stop her swimming.

"I feel like there's been quite a few (alerts) over the years," she said.

"But I don't really think it ever made a difference to me, I always still swam."

Water NSW said warning signs would be erected.

But Ms Walder said she hadn't seen any such signs erected around the foreshore.

"If it's dangerous or there's issues with it, I think it should be posted at the front of the reserves pretty clearly," she said.

Friend and Albury resident Alexy Kerry agreed.

"That's what's weird, usually in the past there's been signs of it, or there's a tinge to the water or something floating on top, whereas today there's not."

Christen Webb, also of Albury, was not aware of the alert until told by The Border Mail.

He said it wouldn't deter him from boating and water skiing at the lake.

"I didn't know anything about it at all, so it would have been nice to have some signage," he said.

"It's a bit dirty, but it's not too bad.

"Some people I guess would probably be a bit grossed out by it but I don't think they really worry too much."

Mr Webb said he would take cautionary measures such as avoiding prolonged time in the water and having a shower afterwards.

On the Victorian side of the border, Parks Victoria issued a similar warning for Lake Moodemere, near Rutherglen.

"Visitors to the area are advised that they can still enjoy other recreational activities such as bushwalking, boating and sightseeing around the water body," it said in a statement.

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