Data Protection Act
Rugby Credit Union is a
data controller of the information provided on the application form in terms
of the Data Protection Act 1998 amended.
As part of the processing of loan applications, Rugby Credit Union may search the files of a registered credit reference agency who will keep a record of that search. This can be used by other lenders when processing future applications for credit you make. In addition, if the application is successful, details of how you repay the agreement may be provided to the credit agency who will make this available to other lenders who use the information for credit assessment, tracing of absconders and fraud prevention.
A Credit Union may also
consult with other Credit Unions who will take into account the information
concerning the borrower's employment prospects of which the Credit Union may
have become aware. If the application is successful, the borrower's details
will be held by the Credit Union to enable the borrower's loan to be managed.
This information may be shared with other Credit Unions to protect the Credit
Union's assets and to help prevent fraud. Details of any financial transitions
involved (such as payroll deduction) will be made available to the company or
In the event that the borrower
defaults on their loan or any terms and conditions related thereto, details
of such default or defaults will be passed to other Credit Unions, debt recovery
agencies and courts. In such circumstances it is understood that the Credit
Union may disclose details of the Member's account and any matters relating
to the account to any credit reference agency and to any other individual, individuals
or organisations for this purpose registered by the Credit Union with Data Protection