Permission to obtain and disclose credit and personal information
What information can be used and disclosed?
The Privacy Act allows Police Credit Union Ltd (‘we’, ‘us’, ‘our’) ACN 087 651 205 and other applicable persons to use and disclose personal information about you when related to the primary purpose for which it was collected, and for related secondary purposes that you would reasonably expect. In connection with providing credit to you, personal information may include credit information, such as:
- details to identify you and verify your identity, such as your name, sex, date of birth, current and 2 previous addresses, your current and last known employer, and your driver’s licence number
- the fact that you have applied for credit and the amount or that we are a current credit provider to you, or that you have agreed to be a guarantor
- advice that payments previously notified as unpaid are no longer overdue
- information about your current or terminated consumer credit accounts and your repayment history
- payments overdue for at least 60 days and for which collection action has started
- in specified circumstances, that in our opinion you have committed a serious credit infringement
- the fact that credit provided to you by us has been paid or otherwise discharged, and
- other information about credit standing, worthiness, history or capacity that credit providers can disclose under the Privacy Act, including a credit report.
Your sensitive information (eg, membership of a professional or trade association) may also be disclosed where relevant to this application.
When and why do we obtain information?
Before, during or after the provision of our products and services to you, we may collect your personal information for the purpose of providing products and services to you and managing our business. When providing credit to you, this may include assessing your application for consumer or commercial credit or to be a guarantor for the applicant, assessing your credit worthiness, managing your loan or the arrangements under which your loan is funded or collecting overdue payments.
Some laws require us to obtain personal information about you before we provide you with particular products or services or process particular transactions in which you are involved – eg laws relating to anti-money laundering and counter-terrorism financing, consumer credit, taxation and real property transactions.
If you do not provide us with the personal information that we request, we may not be able to consider your application for credit or provide other services.
Who can give or collect information?
For the purpose of providing products and services to you and managing our business, we may give information to:
- external service providers to us, such as organisations which we use to verify your identity, payment systems operators, mailing houses and research consultants
- insurers and re-insurers, where insurance is provided in connection with our services to you
- superannuation funds, where superannuation services are provided to you
- debt collecting agencies, if you have not repaid a loan as required
- our professional advisors, such as accountants, lawyers and auditors
- state or territory authorities that give assistance to facilitate the provision of home loans to individuals
- other credit providers and their professional advisors
- your representative, for example, lawyer, mortgage broker, financial advisor or attorney, as authorised by you, or
- government and regulatory authorities, if required or authorised by law.
In addition, in connection with providing credit to you, we and the Credit Providers mentioned below may:
- obtain a commercial and/or consumer credit report containing personal information about you from a credit reporting body
- obtain personal information about you from your employer and any referees that you may provide and disclose to them, for the purpose of verification, personal information you have provided to us which they could reasonably be expected to be able to verify,
- exchange credit information about you with each other, and
- exchange credit information about you with any credit reporting body and any other provider of credit to you named in your credit application or a credit report from a credit reporting body.
Credit Providers can mean:
- our related companies
- any introducer, dealer or broker referred to in a loan application, and
- any agent or contractor of ours assisting in processing a loan application
Important information about credit reporting bodies
Credit reporting bodies collect credit information about individuals which they provide as credit reports to credit providers and others in the credit industry to assist them in managing credit risk, collecting debts and other activities.
You can also ask a credit reporting body not to use or disclose your personal information for a period if you believe on reasonable grounds that you have been or are likely to be a victim of fraud, including identity fraud.
Disclosure to insurers and guarantors
Lenders’ mortgage and trade insurers
In connection with providing credit to you, a lenders’ mortgage insurer or a registered trade insurer may obtain credit information about you from a Credit Provider or from a credit reporting body to assess whether to provide lenders’ mortgage insurance to us in relation to an application for consumer credit, or whether to provide trade insurance to us in relation to an application for commercial credit.
In connection with providing credit to you, the Credit Providers may give a guarantor, or a person who is considering becoming a guarantor, credit information about you for the purpose of enabling the guarantor to decide whether to act as guarantor or to keep informed about the guarantee.
Personal information about third parties
Under the AML/CTF Act, we can disclose your name, residential address and date of birth to a credit reporting body. The purpose of this disclosure is to ask the credit reporting body to assess whether the personal information disclosed matches (in whole or part) personal information about you held in their records (if any). This electronic verification process helps us to verify your identity.
The credit reporting body may prepare and provide us with an assessment by using the personal information about you and the names, residential address and dates of birth contained in its records about other individuals.
If you do not consent to us verifying your identity by electronic verification, we will provide you with an alternate verification process to identify you. If this is the case, please contact us on 1300 131 844 for further information.
We take all reasonable steps to ensure that all your personal information held by us (on our website or otherwise), is protected from misuse, interference and loss, and from unauthorised access, disclosure or modification.
The Credit Providers may use, and share with each other, information about you to inform you about products and services (unless you ask us not to). The Credit Providers may do so even if you are on the Do Not Call Register (unless you ask us not to).
Consumer Data Right
The Consumer Data Right gives you the right to:
- access some of the data (including personal information) held about you by us and by other data holders (‘CDR Data’).
- consent to an accredited third party accessing your CDR Data held by us; and
- consent to us assessing your CDR Data held by another data holder.
We have a policy about our management of CDR Data. It is available through our website. You can also get an electronic or hard copy from us on request.
By completing this application, you acknowledge having read and understood this permission to obtain and disclose information. You authorise the persons and organisations named above to give and obtain the information in the ways specified above until the credit is repaid in full.
I understand that this application is not a contract and that if it is approved PCU will make me an offer in writing. Fees & charges and Terms & Conditions for loans are available on request. I have read and understood Police Credit Union’s Privacy Statement.
I understand Police Credit Union will collect personal information from me as required by the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth) and that it may take steps to verify the personal information it has collected. I consent to the collection, use, handling, disclosure and verification of personal information as required by the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth).
I understand that if I provide Police Credit Union with incomplete or inaccurate information that Police Credit Union may not be able to provide me with the products or services that I am seeking. I understand that Police Credit Union may reject and refund my application for Membership if I fail to declare all relevant information. I believe the above details to be true and correct. (It is an offence under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth) to give false and misleading information).