Responsible lending

Our guiding principle is that we only offer a product where we believe there is a benefit to the customer.

Responsibilities

In addition to our own strict credit assessment policies, we comply with requirements set out by the National Consumer Credit Protection Act (NCCPA). Our staff receive regular product and compliance training to ensure that they carry out their responsibilities appropriately.

We give our business partners up-to-date information about our products and services as and when necessary, including changes in fees and rates, and updates to lending criteria and policies. We’re a member of the Australian Financial Complaints Authority (AFCA), one of the dispute resolution schemes for the financial services industry.

Our obligations to make a suitability assessment

Under the NCCPA, we must not enter into a credit contract with you if it is unsuitable for you. A credit contract is unsuitable if at the time the contract is entered it is likely that:

• you will be unable to comply with your financial obligations under the contract or could only comply with substantial hardship; or

• the contract does not meet your requirements and objectives.

In order to assess whether the contract is unsuitable for you, we must make reasonable enquiries about your requirements and objectives in relation to the credit contract and take reasonable steps to verify your financial situation.

Obtaining this information helps us get a better understanding of your need for credit as well as your ability to meet all the repayments under the proposed credit contract. The extent of the enquiries we undertake will depend on the circumstances.

Your right to receive a copy of the suitability assessment

If your application for a credit contract is approved, you can request a copy of our assessment of your suitability within the timeframes set out below. We will provide it free of charge.