Application for Credit
IMPORTANT NOTICE TO APPLICANT(S) FOR CREDIT, (SECTION 18E (8)(c) Privacy Act 1988)

The Credit Union may give information about you to a credit reporting agency, but only limited kinds of information allowed by the Privacy Act 1988 (Commonwealth). This includes:

• identity particulars - this only includes your name, sex, date of birth, current known address, two immediately previous addresses, your current or last known employer, and your driver's licence number.
• payments overdue for at least 60 days, when the Credit Union has taken steps to recover.
• cheques for an amount greater than $100, drawn by you which have been dishonoured more than once.
• the fact that you have applied for credit and the amount.
• the fact that the Credit Union is a credit provider to you.
• advice that payments are no longer overdue.
• the opinion of the Credit Union that you have committed a serious credit infringement.
• when the credit provided to you has been discharged.

STATEMENT BY APPLICANT(S) FOR CREDIT
Please read carefully before signing.
Where more than one applicant, each applicant to sign.

1. Type of Credit
The credit I am applying for is:

For a domestic, family or household purpose (consumer credit).

OR

For another purpose (commercial credit).

2. Giving information to a Credit Reporting Agency
(SECTION 18E(8)(c) Privacy Act 1988).
The Credit Union has informed me that it may give certain personal information about me to a credit reporting agency. I understand that the Credit Union can only give limited kinds of information which are set out in the Privacy Act 1988 and examples of which are listed above.

3. Exchanging Information with other Credit Providers
(SECTION 18N(1)(b) Privacy Act 1988).
I agree to the Credit Union checking personal information about me with any credit provider named in my credit application, and with other credit providers that may be named in a credit report issued by a reporting agency, for any of the following purposes:

• to assess my credit worthiness
• to notify a default by me
• to assess an application by me for credit
• the collection of overdue payments
• to help me avoid defaulting on my credit obligations

I understand that this information can include any information about my credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to give to or receive from each other under the Privacy Act 1988.

4. Access to Commercial Credit Information
(SECTION 18L(4) Privacy Act 1988).
For the purpose of assessing my application for credit, I consent to the Credit Union obtaining a report containing information about my commercial activities or commercial credit worthiness, from a business which provides information about the commercial credit worthiness of persons.

5. Access to Consumer Credit Information for a Commercial Credit Application
(SECTION 18K(1)(b) Privacy Act 1988).
If my application is for commercial credit, I consent to the Credit Union, in order to assess my application, obtaining from a credit reporting agency a credit report about me containing consumer credit information.

Name of applicant:
Signature:	Date:
Name of joint applicant:
Signature:	Date:

NB If submitting this loan application electronically via our website, we will telephone you to provide us with a "verbal" privacy consent.

• For salaried employees a recent pay slip, no more that one month old.
  or
  for self-employed applicants, the last two years financial results (including balance sheet, trading figures profit & loss account and tax returns).
  
• Documentary evidence of any other income.

• For salaried employees a letter from your employer on business letterhead stating length of employment, fortnightly gross and net salary, details of nature of employment (permanent, part-time, casual or contract) and number of regular hours worked.
  NB. Employee letter is NOT required in the following cases:
  (i) public service employees paying superannuation contributions,
  if this is verified on the pay slip.
  (ii) home owners/buyers, if a copy of a recent rates notice is supplied.
• Statements of account, which are no more than two months old are required for all loans/commitments recorded on the liability section of the loan application form.

(1) Your ability to repay the loan from your regular income. This will be determined by the information that you provide to us, being compared with independent statistical data on household expenditure and living expenses. Listed below are details of the information you need to supply with your loan application to ensure fast processing.

(2) Your credit history, with both CPS and other financial institutions. We will evaluate this by undertaking an enquiry with the Credit Reference Association of Australia (CRAA) with your permission as given in the Privacy Consent form which you sign as part of your loan application.

(3) The stability of your employment and residency. From the information that you provide in relation to your employment and residency, we will determine your suitability to commit yourself to a certain loan amount over a given term.

(4) Other Factors. We will take into account any other relevant factors that you provide or which come to our attention during the assessment of your application. These include sufficient and adequate security (if applicable), debt sufficiency and future debt commitments.

The main aim of our loan assessment process is to examine your application objectively based on the facts presented to us. We want to ensure that you can afford the financial commitment placed on you in the form of loan repayments and to limit the credit risk undertaken by the Credit Union and thus by all members of CPS.