By signing, or acknowledging verbally or electronically, each person named in this Application (‘Relevant Person’) declares to Credit Union South (“the Credit Union”) that:
- i. The information provided in this Application is true and correct;
- ii. I/We have read and agree to the terms below;
- iii. The Credit Union may seek verification of all or any of the information provided by the Relevant Person;
- iv. No information has been withheld on the financial position of each Relevant Person, or any commitments that might affect the decision of the Credit Union in respect of this Application;
- v. I/We understand that a false declaration may result in this Application being rejected, or any Loan advanced, or to be advanced, in reliance on this declaration being closed or cancelled without notice to me/us;
- vi. I/We consent to the Credit Union sending commercial electronic messages (as that term is defined in the Unsolicited Electronic Messages Act 2007) to each Relevant Person using any address supplied by me/us to the Credit Union.
- vii. I/We understand that the Credit Union is required to comply with the Responsible Lending Principles under the Credit Contracts and Consumer Finance Act 2003 and the Responsible Lending Code
All applicable fees and costs (i.e. application fees, legal and valuation costs) associated with this Application, and any loan advances made based on this Application are for my/our own account.
Any information received about any Relevant Person by the Credit Union will be held by the Credit Union, its related entities, successors, assigns, agents and associates, and may be accessed and corrected by the Relevant Person under the Privacy Act 1993.
Any such information, may be used by the Credit Union, or any association to which the Credit Union belongs and any lenders mortgage insurance company, for the purposes of considering this, or any future, application, and for any business purpose of the Credit Union, association or insurance company including without limitation market research and promotion of products and services. If information is not provided, the Credit Union may not be able to provide the requested products or services.
The Credit Union is authorised by the Relevant Person to make any enquiries and verify from any person, company or organisation concerning the Relevant Person’s (this includes information such as, but is not limited to) credit reporting agency data, residential history, employment history, financial status, identity, credit or rent repayment history, fine status reporting from the Ministry of Justice, information from the National Register of Drivers Licenses, or other persons, companies or organisations, any information provided in, or in support of, this Application.
Such persons, companies or organisation may include service providers, other financial and insurance institutions, government departments, the Relevant Person’s employer or accountant and any other source that the Credit Union considers desirable, including any public register or database. The Relevant Person authorises any person, company or organisation so approached to provide such information to the Credit Union.
Any Loan Advance is conditional upon the Credit Union being satisfied that no Event of Default has occurred or is likely to occur following the advance of the Loan or the Instalment. In the event of any default by the Relevant Person under any of the terms and conditions of any Loan advanced by the Credit Union to the Relevant Person, the Credit Union may list the Relevant Person with any credit reporting agencies (prior notice in writing of the Credit Union’s intention to do so will be given to the Relevant Person’s last known address), use the services of enquiry agencies, and/or place the debt with a collection agent. The Credit Union will also reporting to any credit reporting agency any credit account information including the type of credit account, the amount of credit extended, the credit limit, repayment history information and whether the account is open or closed. These credit reporting agencies may retain that information and provide that information to other customers who use credit reporting services.
Each Relevant Person may request the full details of every organisation or person to whom the Credit Union has disclosed information about them. Individuals have rights to access and request correction of their personal information under the Privacy Act 1993.
