As a licensed credit provider, we are required to give you a Credit Guide as soon as it becomes apparent to us that we may make a loan to you.
This guide includes information about us, our responsible lending obligations to you, and our internal and external complaint handling procedures.
Who is Foresters Community Finance?
Foresters Community Finance Individual Finance program is a personal lending program that aims to provide fair, safe and affordable personal loans to individuals who may be limited in their current lending choices. Foresters Community Finance also aims to assist clients beyond financial matters alone by linking them to alternate assistance programs, if appropriate.
Our Responsible Lending Obligations
We have a legal obligation to you not to make or arrange a loan, or increase the limit of an existing loan, if the loan is unsuitable for you at the time we make the loan.
Loan Suitability Assessment
A loan or loan increase will be unsuitable for you if, at the time the loan is made it is likely that:
- you will be unable to comply with your financial obligations (you can not afford to repay the loan) under the loan contract, or could only comply with substantial hardship; or
- the loan will not meet your requirements or objectives.
During the Loan Assessment, we will:
- make all reasonable enquiries about your requirements and objectives;
- make reasonable enquiries about your financial situation; and
- take reasonable steps to verify the information you have given us.
You can request a copy of our loan assessment (at no charge to you). We must provide the assessment to you within the following timeframes:
Your Request Made:
Before signing a loan contract –
Within 2 years of the loan start date –
Between 2 and 7 years from the loan start date
We Will Give You Your Assessment:
As soon as possible after we receive your request, but before entering into the loan contract.
Within 7 business days after we receive your request
Within 21 business days after we receive your request
We are not required to give you a copy of the assessment if:
- your request is made more than seven years after the loan start date; or
- your loan application was declined.
Internal Complaint Resolution – getting your complaint heard and resolved
Please talk to us first – we aim to resolve your complaint at your first point of contact with us and we encourage you to raise any matter directly with the Individual Finance team through any of the following channels:
Foresters Community Finance
275 Alfred Street
North Sydney NSW 2060
P 07 3851 8000
F 07 3857 0291
E [email protected]
We will advise you of the complaint handling process and the timeframe for resolving your complaint. Please refer to our dispute resolution policy.
In the unlikely event that we can’t resolve your complaint at your first point of contact with us, we will refer your complaint to the Individual Finance Manager for further investigation.
If you are not satisfied with the outcome, or if we do not respond speedily, you may refer the complaint to our external dispute resolution centre.
External Complaint Resolution – if we cannot resolve your complaint internally
If we haven’t been able to deal with your complaint to your satisfaction, you can go to the Australian Financial Complaints Authority, or in such cases we will generally refer your complaint to the Australian Financial Complaints Authority on your behalf. Their contact details are:
Australian Financial Complaints Authority
GPO BOX 3
Melbourne Qld 3001
P 1800 931 678
F 03 9613 6399