Scotwest Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN 213616). Details appear on the Financial Services Register (www.fca.org.uk/register).
The minimum age to become a member of Scotwest is 18 years. If you are aged 16-17 years, you can join as a Young Member and will be transferred to full membership upon reaching 18 years. Young Members can take advantage of our savings products. Upon reaching 18 years, Young Members can apply to use our loans and mortgage products. Under current legislation, members have the right to cancel their membership with Scotwest, without penalty within fourteen days of their membership application being processed. However, membership of Scotwest is voluntary and your account can be closed at any time, providing no debts are outstanding. To cancel your membership, please contact the Scotwest office.
Members agree to be sent information about Scotwest Credit Union, its products and services, promotions and developments as well as account statements. Scotwest Credit Union is committed to the provision of service of the highest quality to its members. In the event however, that a member is dissatisfied with any aspect of this service, Scotwest will endeavour to resolve any complaint as effectively and efficiently as possible. Members will be issued with further information after joining. In addition, if we have been unable to resolve your complaint within eight weeks, or you are not satisfied with our response, you can refer this matter to the Financial Ombudsman Service. This organisation has been set up by law to help settle individual disputes between consumers and financial firms. Scotwest Credit Union is covered by the Financial Services Compensation Scheme. This scheme provides a safety net if a Bank, Building Society or Credit Union should fail. Further information on the scheme will be issued after joining. Please note that all calls to our Member Enquiry Line may be monitored and/or recorded in order to maintain and improve our service.
Under money laundering regulations, we are required to verify the identity and address of all new members before we can accept their application. To do this, we will make an electronic check. This process involves checking the details you supply against those held on a number of specific databases which Experian, the credit reference agency used by Scotwest Credit Union for the check, has access to. For example they will check to see whether you appear on the Electoral Register at the address you have provided. Scoring methods will be used in the verification process as this gives a more thorough check of the available data. A record of this process will be kept that may be used to help other companies to verify your identity. We may also pass information to organisations involved in fraud prevention to protect ourselves and our members from theft and fraud. If you supply false or inaccurate information and we suspect fraud, we will record this and share this information with other organisations. We may also, if necessary ask you to send us documents to confirm your identity and address.
Scotwest is a data controller of the information provided on this form in terms of the Data Protection Act 1998 as amended. As part of the processing of this application and in order to comply with Money Laundering Regulations, before we provide any services, we will make searches about you at credit reference agencies who will supply us with credit information, as well as information from the Electoral Register. The agencies will record details of the search whether or not this application proceeds. We may use credit-scoring methods to assess this application and to verify your identity. Credit searches and other information which is provided to us and/or the credit reference agencies, about you and those with whom you are linked financially may be used by Scotwest and other companies if credit decisions are made about you, or other members of your household. This information may also be used for debt tracing and the prevention of money laundering as well as the management of your account.
To prevent or detect fraud, or to assist in verifying your identity, we may make searches of our records and at fraud prevention agencies who will supply us with information. We may also pass information to financial and other organisations involved in fraud prevention to protect ourselves and our members from theft and fraud. If you give us false or inaccurate information and we suspect fraud, we will record this. We and other companies may use this information if decisions are made about you or others at your address (es) on credit or credit-related services or motor, household, credit, life or any other insurance facilities. It may also be used for tracing and claims assessment.
Information held about you by the credit reference agencies may already be linked to records relating to one or more of your partners. Where appropriate, any loan applications submitted may be treated as financially linked and your application will be assessed with reference to any “associated” records.
In addition, if the application is successful, details of how you repay this agreement may be provided to credit reference agencies who will make this available to other lenders who may use the information for credit assessment, tracing of absconders and fraud prevention. We may also consult other Credit Unions and will take into account information concerning your employment prospects, of which we have become aware.
If your loan application is successful, your details will be held by Scotwest to enable your loan to be managed. This information may be shared with other Credit Unions to protect Scotwest’s assets and to help prevent fraud. Details of any financial transactions involved (such as payroll deduction) will be made to the company/organisation concerned.
In the event that you do not repay in full or on time, or default on any terms and conditions in relation thereto, details of your account and how you manage it will be passed to other Credit Unions, credit reference agencies, debt recovery agencies and courts who will record the outstanding debt. In such circumstances it is understood that Scotwest may disclose details of your 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 Scotwest with the Data Protection Registrar.
You have the right of access to your personal records held by credit and fraud agencies. We will supply their names and addresses upon request to Scotwest Credit Union, 13 Elmbank Street, Glasgow G2 4PB.
If the loan is going to be in joint names, please note that we may need to contact you in order to obtain authorisation for credit checking from the joint applicant.
The personal information provided on this form and additional information gathered during the course of your membership of Scotwest will be stored electronically for the following purposes:
Scotwest has registered its usage of data under the Data Protection Act 1998 as amended and you are entitled to obtain a copy of the information held about you. This is known as a Subject Access Request and there is a fee of £10.