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Privacy Policy

Privacy Policy

Who are we?

‘We’, ‘us’ and ‘our’ refers to MiFund Pty Ltd ACN 601 537 099, Australian Credit Licence 473895 and our related businesses.

Our commitment to protect your privacy

We understand how important it is to protect your personal information. This document sets out our commitment in respect of the personal information (including credit-related information) we hold about you and what we do with that information.

We recognise that any personal information we collect about you will only be used for the purposes we have collected it for or as allowed under the law. It is important to us that you are confident that any personal information we hold about you will be treated in a way which ensures protection of your personal information.

Our commitment in respect of personal information is to abide by the Australian Privacy Principles (APPs) and Part IIIA of the Privacy Act, the Privacy (Credit Reporting) Code 2014 and any other relevant law.

Personal information

When we refer to personal information we mean information from which your identity is reasonably apparent. This information may include information or an opinion about you. The personal information we hold about you may also include credit-related information.

Credit-related information means:

  • Credit information, which is information which includes your identity; the type, terms and maximum amount of credit provided to you, including when that credit was provided and when it was repaid; repayment history information, default information (including overdue payments); payment information; new arrangement information; details of any serious credit infringements; court proceedings information; personal insolvency information and publicly available information; and

 

  • Credit eligibility information, which is credit reporting information supplied to us by a credit reporting body, and any information that we derive from it.

We use your credit-related information to assess your eligibility to be provided with finance. Usually, credit-related information is exchanged between credit and finance providers and credit reporting bodies.

The kinds of personal information we may collect about you include your name, date of birth, address, account details, occupation, and any other information we made need to identify you.

If you are applying for finance we may also collect the ages and number of your dependants and cohabitants, the length of time at your current address, your employment details and proof of earnings and expenses. If you apply for any insurance product through us we may also collect your health information. We will only collect health information from you with your consent.

Why and how we collect your personal information

We collect personal information for the purposes of assessing your application for finance and managing that finance. We may also collect your personal information for the purposes of direct marketing and managing our relationship with you. From time to time we may offer you other products and services. We may do so by mail or electronically unless you tell us that you do not wish to receive electronic communications. We always give you the option of electing not to receive these communications in the future. You can unsubscribe by telephoning us on 1300 700 118 or by writing to us at enquiries@mifund.com.au and we will no longer send this information to you.

Where reasonable and practical we will collect your personal information directly from you. We may also collect your personal information from credit reporting bodies and from finance brokers and other people such as accountants and lawyers.

Credit-related information

We exchange credit-related information for the purposes of assessing your application for finance and managing that finance.

This credit-related information may be held by us in electronic form on our secure servers and may also be held in paper form. We may use cloud storage to store the credit-related information we hold about you.

When we obtain credit eligibility information from a credit reporting body about you, we may also seek publicly available information and information about any serious credit infringement that you may have committed.

We may disclose your credit-related information to overseas entities that provide support functions to us. You may obtain more information about these entities by contacting us.

How do we hold and protect your information?

We strive to maintain the relevance, accuracy, completeness and currency of the personal information we hold and to protect its privacy and security. We keep personal information only for as long as is reasonably necessary for the purpose for which it was collected or to comply with any applicable legal or ethical reporting or document retention requirements. We hold the information we collect from you in both electronic and hard copy form and take all reasonable care to protect your information from misuse, loss, unauthorised access, modification or disclosure.

All our staff are required by the terms of their employment to maintain the confidentiality of customer information. Access to your information is restricted to those employees whose job requires that information. Access to our premises and computer systems is restricted through locks, password protection, internet firewalls and routers.

We will take reasonable steps to destroy or de-identify your personal information when your personal information is no longer required for our business functions.

Do we disclose your personal information to anyone?

We may disclose your personal information:

  • to prospective funders or other intermediaries in relation to your finance requirements;
  • to other organisations that are involved in managing or administering your finance such as third party suppliers, printing and postal services, call centres, lenders mortgage insurers, trade insurers and credit reporting bodies;
  • to associated businesses that may want to market products to you;
  • to companies that provide information and infrastructure systems to us;
  • to anybody who represents you, such as finance brokers, lawyers, and accountants;
  • to anyone, where you have provided us consent;
  • where we are authorised to do so by law, such as under the Anti-Money or Laundering and Counter Terrorism Financing Act 2006 (Cth); or
  • to investors, agents or advisers, or any entity that has an interest in your finance or our business;
  • organisations that provide products or services used or marketed by us; or
  • to your employer, referees or identity verification services.

Prior to disclosing any of your personal information to another person or organisation, we will take all reasonable steps to satisfy ourselves that:

  • the person or organisation has a commitment to protecting your personal information at least equal to our commitment, or
  • you have consented to us making the disclosure.

We may use cloud storage to store the personal information we hold about you. The cloud storage and the IT servers may be located outside Australia.

Notifiable matters

The law requires us to advise you of ‘notifiable matters’ in relation to how we may use your credit-related information. You may request to have these notifiable matters (and this policy) provided to you in an alternative form.

We exchange your credit-related information with credit reporting bodies. We use the credit-related information that we exchange with the credit reporting body to assess your creditworthiness, assess your application for finance and managing your finance.

If you fail to meet your payment obligations in relation to any finance that we have provided or arranged or you have committed a serious credit infringement then we may disclose this information to a credit reporting body.

You have the right to request access to the credit-related information that we hold about you and make a request for us to correct that credit-related information if needed. Please see the heading Access and correction to your personal and credit-related information, below.

Sometimes your credit information will be used by credit reporting bodies for the purposes of ‘pre-screening’ credit offers on the request of other credit providers. You can contact the credit reporting body at any time to request that your credit information is not used in this way.

You may contact the credit reporting body to advise them that you believe that you may have been a victim of fraud. For a period of 21 days after the credit reporting body receives your notification the credit reporting body must not use or disclose that credit information. You can contact any of the following credit reporting bodies for more information:

How can you access, update or correct the information we are holding?

It is important to us that the personal information we hold about you is accurate and up to date. During the course of our relationship with you we may ask you to inform us if any of your personal information has changed. We will generally rely on you to ensure the information we hold about you is accurate or complete.

You have the right to access your information and if necessary, for it to be corrected. If any of the personal or credit-related information we hold about you is incorrect, inaccurate or out of date you can make a request for access to or correction of your personal information by writing to:

The Privacy Officer

MiFund Pty Ltd

PO Box 2539

Taren Point NSW 2229

Or by emailing enquiries@mifund.com.au.

Upon receipt of your written request and enough information to allow us to identify the information, we will disclose to you the personal information we hold about you. We may incur costs in giving you that information, in which case we reserve the right to charge you for our reasonable expenses incurred in retrieving and supplying the information to you.

Depending on the type of request that you make we may respond to your request immediately, otherwise we usually respond to you within seven days of receiving your request. We may need to contact other entities to properly investigate your request.

In some limited circumstances we may need to refuse access to your information or refuse a request for correction, for example, if the information relates to existing or anticipated legal proceedings, or if your request is vexatious. If this is the case, we will provide you with our reasons for the refusal.

Using government identifiers

If we collect government identifiers, such as your tax file number, we do not use or disclose this information other than authorised by law. We will never use a government identifier in order to identify you.

Business without identifying you

In most circumstances it will be necessary for us to identify you in order to successfully do business with you, however, where it is lawful and practicable to do so, we will offer you the opportunity of doing business with us without providing us with personal information, for example, if you make general inquiries about interest rates or current promotional offers.

Sensitive information

We will only collect sensitive information about you with your consent. Sensitive information is personal information that includes information relating to your racial or ethnic origin, political persuasion, memberships in trade or professional associations or trade unions, sexual preferences, criminal record, or health.

How safe and secure is your personal information that we hold?

We will take a range of measures and reasonable steps to protect your personal information. Your personal information will always be stored in a secure environment. We may store your personal information in paper and electronic form. We will also take reasonable steps to protect any personal information from misuse, loss and unauthorised access, modification or disclosure.

What happens if you want to complain?

At MiFund, we value our customers. We will always aim to be fair and responsive. If you have concerns about whether we have complied with the Privacy Consent or this Privacy Policy and would like to make a complaint you have the right to expect that we will handle it in a friendly and professional manner. When we receive a complaint, we look on it as valuable feedback that may help us improve the services we offer and to ensure your needs are met in a timely and appropriate manner. If you wish to complain, at any time, about the handling, use or disclosure of your personal information please contact our Privacy Officer email at enquiries@mifund.com.au or by telephone on 1300 700 118. Your complaint will be considered through our internal complaints resolution process and we will try to respond with a decision within 30 days of you making the complaint.

If you are dissatisfied with the response of our complaints officer you may make a complaint to our External Dispute Resolution Scheme, the Credit and Investments Ombudsman by calling on 1800 138 422, by email at info@cio.org.au or in writing to PO Box A252, Sydney South NSW 1235, 0or the Privacy Commissioner which can be contacted on either www.oaic.gov.au or 1300 363 992.

Changes to this Privacy Policy

We are constantly reviewing all of our policies and attempt to keep up to date with market expectations. Technology is constantly changing, as is the law and market place practices.

As a consequence, we may amend this Policy from time to time to comply with new laws or codes of practice that may be implemented. We may also change this Policy to include any new products or services that we may provide from time to time. We will post any changes to this Policy on our website.

You may request this policy in an alternative form by telephoning us on 1300 700 118 or by writing to us at PO Box 2539 Taren Point NSW 2229.

This Privacy Policy came into operation on 1 May 2015.

Further information

You may request further information about the way we manage your personal or credit-related information by contacting us.

For more information on your privacy rights please visit www.privacy.gov.au.