DP Statement - Loan Accounts
We want to explain clearly how we process your Personal Data when you apply for and receive a loan from the Credit Union.
In order to provide Credit Union loans, we need to collect Personal Data from our members. This section of the Data Protection Statement provides specific information relating to loan applications and maintenance of loan accounts.
2. Members and their representatives
Our Members are individuals to whom we provide Credit Union loans.
For the most part we transact directly with members in relation to the operation of the Credit Union loans. On occasion we may transact with relatives, guarantors or representatives who are acting on behalf of a member.
When we transact with someone on behalf of a member, we will also collect limited additional Personal Data about that person.
- a person who acts as guarantor on a member’s loan;
- a spouse or relative who provides information to us to support the loan application;
- a legal representative of a member who communicates with us on the member’s behalf.
3. Categories of Personal Data
|Category of Personal Data||Description|
|Contact Data||This includes email address, phone number, postal address, billing address.|
|Financial Data||This includes financial data such as your account status and history. With loans we may also request broader information around your financial income and outgoings such as salary, occupation, accommodation status, mortgage details, other loans and debts, previous addresses, spouse, partners.|
|Correspondence Data||If you interact with us, we will record details of those interactions. For example, we will process details of phone calls, email correspondence and hard copy correspondence.|
|Health data||You complete a health declaration form for the purposes of loan insurance. The level of information required will depend on factors such as your age, your health situation and the amount of the loan.|
When you apply for a Credit Union loan, we collect the following information:
|Category of Personal Data||Description|
|PPSN||Your Personal Public Services Number (PPSN) will be collected, if not already on file in order to meet our reporting requirements to the CCR.|
4. Processing Activities
We have set out below the general purpose of processing, the categories of Personal Data processed and the related lawful basis for processing.
We have to process Personal Data legally. As a regulated entity much of the data that we process is required to meet with a regulatory obligation or in order to deliver Credit Union loan services to you.
|Purpose of Processing||Categories of Personal Data||Lawful Basis |
To process your application for a loan;
|To assess your application for a loan;|
To provide loan drawdown and to manage the repayment schedule
To provide you with information about the performance of your loan;
|To administer the ILCU Loan Protection Scheme;|
To implement credit control measures where there are missed loan repayments;
To carry out credit control including collecting and enforcing debts and arrears
|To comply with our legal reporting obligations in respect of the Central Credit Register (CCR);|
|To interact with the regulator and the Central Bank of Ireland for reporting, compliance and auditing purposes;|
5. Sources of Personal Data
We receive information from you when you apply for a loan from us either in-branch or online. This information is collected from you directly through the loan application form or from you and other people in the case of a joint loan application or where proof of household income is sought.
We receive information from external sources such as the CCR when we carry out Credit Checks relating to the Loan application.
We receive information from you during the course of the loan such as:
- information related to loan repayments;
- information you supply when you communicate with us about your loan repayments.
We may receive information about you from a representative when they communicate with us on your behalf.
6. Retention of Loan information
Our retention policy is as follows:
|Purpose ||Retention Period|
|Loan application and approval, loan administration||Termination of loan + 7 years|
Note that this section of the Credit Union Data Protection Statement relates only to how we process data relating to the processing of Credit Union loans.
We have Data Protection Statements that provide specific information about how we process your Personal Data when you interact with any of the following Credit Union Services including:
- Member Accounts
- Loan Accounts
- Website Users
- Online Banking
- Online Loans
Please see our General Data Protection statement for more general information about our processing activities including marketing activities and information relating to (i) how to exercise your rights, (ii) who your Personal Data may be shared with (including cross border transfer); (iii) the security measures we have implemented and the contact details for the Data Protection Commission in Ireland.
ANSAC Credit Union - Updated 22 May 2020