Effective from 1 November 2019
This Credit Guide will assist you, when choosing your provider of credit services. This Guide contains information about our responsible lending obligations, our dispute resolution process and what to do if you have a complaint and how to contact us.
BCU Bank is a division of Police & Nurses Limited Australian Credit Licence number 240701. Police & Nurses Limited is an authorised credit provider in relation to consumer lending products, regulated by the National Credit Code.
As a credit provider under the National Credit Code, we will not enter into a credit contract with you or increase the credit limit of an existing contract unless we assess that the credit contract or increase in limit is not unsuitable for you. This is known as a ’suitability assessment’.
What does 'not unsuitable' mean?
A credit contract or increase in limit will be unsuitable if it does not meet your requirements or objectives or it is likely that you will be unable to comply with your financial obligations under the contract or will only be able to comply with substantial hardship.
Your right to a copy of the suitability assessment or preliminary assessment
If your application for credit or an increase in your credit limit has been approved, you can contact us (contact details below) and request a written copy of the suitability assessment. Where we have given you credit assistance, you may also ask us for a copy of our preliminary assessment.
We will provide this to you free of charge within the time frames set out below:
| Your request is made | We will give you your assessment |
|---|---|
| Before the credit day* | As soon as possible after we receive your request |
| Up to 2 years after the credit day* or the credit assistance is given | Within 7 business days after we receive your request |
| Between 2 and 7 years after the credit day* or the day the credit assistance is given | Within 21 business days after we receive your request |
*The credit day is the date the credit contract is entered into or the credit limit is increased.
Note: We are not obliged to provide you with a copy of the suitability assessment once 7 years since the credit day has elapsed or if your application is declined.
What to do if you have a complaint
We have an Internal Dispute Resolution procedure for handling complaints.
You can contact us
- In person at a BCU branch
- By telephone on 1300 228 228
- In writing addressed to PO Box 1563, Coffs Harbour NSW 2450
- Via email at mail@bcu.com.au
If an issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority, or AFCA. AFCA provides fair and independent financial services complaint resolution that is free to consumers.
Australian Financial Complaints Authority
Website: www.afca.org.au
Email: info@afca.org.au
Telephone: 1800 931 678 (free call)
In writing to: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001
For more information about our internal dispute resolution scheme or AFCA and how it works, please contact us.
Updates
The information in this Credit Guide is currant as at 1st November 2019. A copy of our current Credit Guide will always be available on our website.
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