• 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.