Credit Guide

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.

Complaint Resolution

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

PO BOX 742
Fortitude Valley Qld 4006

P 07 3851 8080
F 07 3857 0291
E individuals@foresters.org.au
W www.foresters.org.au

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 Financial Ombudsman Service, or in such cases we will generally refer your complaint to the Financial Ombudsman Service on your behalf. Their contact details are:

Financial Ombudsman Services Limited

GPO BOX 3
Melbourne Qld 3001
P 1300 780 808
F 03 9613 6399
W www.fos.org.au