We collect and use personal information for a number of purposes, such as to:
- determine your eligibility for membership
- provide you with membership benefits, financial services and products or information about those benefits, services and products
- provide you with information about financial services and products from third parties with whom we have arrangements and
- conduct market or customer satisfaction research.
We also collect and hold personal information as required by law, more specifically to:
- enter your details in our register of members, as required by the Corporations Act
- verify your identity as required by the Anti- Money Laundering and Counter Terrorism-Financing Act and
- assess your capacity to repay a loan as required under the National Consumer Credit Protection Act.
We will also collect information about your loan repayment history – whether you have paid on time, when payments are due and when actually paid.
From 12 March 2014, we may disclose aspects of your credit history (including your loan repayment history) to credit reporting agencies.
We will notify you of the main reasons for collecting your personal information at the time of collection.
In providing our products and services to you, it may be necessary for us to disclose personal information to other organisations. We only disclose personal information to the extent necessary and to the extent required by law. For example, the types of organisations and persons to whom we may disclose your personal information are:
- organisations that provide or confirm information to verify your identity
- solicitors, conveyancers, accountants, brokers and agents who represent you
- contractors for statement printing and delivery, card and cheque production, market research or direct marketing
- contractors who provide services to enable transactions
- affiliated product and service suppliers to provide information to you about their services and products, including insurance, travel, car buying services, foreign cash, travellers cheques and foreign currency
- other financial institutions that have previously provided credit to you and credit reporting bodies
- your employer – for membership and an application for a credit facility
- property valuers and insurers for property loans
- lenders’ mortgage insurers – for home loans, especially where your deposit is less than 20% of the purchase price
- mortgage documentation services
- trustees and managers of securitised loan programs
- a proposed guarantor of a credit facility for which you have applied
- debt collection agencies, lawyers, process servers
- external dispute resolution bodies, if there is a dispute and
- our auditors.
We will also disclose personal information to law enforcement and government agencies as required by law or to assist with their enforcement activities.