Collecting personal information about you
Generally, we collect personal information directly from you. We do so when you open a membership, open an account, or perform a transaction with us.
We collect, use, hold and disclose personal information about you so that we can:
- establish your identity as required by the Anti-Money Laundering and Counter Terrorism Financing Act
- assess your eligibility for membership
- process applications for products and services, including loans
- manage our risks and help identify and investigate inappropriate and illegal activity, such as fraud
- comply with our legal obligations (including to assist law enforcement agencies or regulators where we are required to do so)
- inform you about products or services that we think may be of interest to you, including those of our business partners.
What happens if you do not provide us with sufficient personal information about you?
If you do not provide us with the personal information we need, we may not be able to provide you with the products or services you are seeking.
To whom do we disclose personal information?
The types of people and entities we disclose personal information about you to include:
- people and entities with whom we have outsourcing or service arrangements, including statement production and delivery, card production, identity confirmation and verification, loan origination, verifying loan applications, auto credit decisioning, payment processing and systems, banking services, data and transaction processing, information technology support, document storage, legal and accounting services
- brokers, agents and advisers acting for you
- lenders’ mortgage insurers and valuers
- persons and organisations who assist us in monitoring recorded calls for the purposes of quality assurance, training and acknowledgement
- our auditors, insurers and re-insurers
- employers or former employers (to verify employment in the case of loan applications)
- government and law enforcement agencies or regulators
- credit reporting bodies and other credit providers
- organisations that help identify and investigate inappropriate or illegal activity, such as fraud and
- Consumer Data Right accredited data recipients where you have consented to the accredited data recipient collecting the personal information from us and us disclosing the personal information to the accredited data recipient (see our Consumer Data Right Policy which is available on our website and on request for more information).
Electronic verification of identity
We are required under the Anti-Money Laundering and Counter-Terrorism Financing Act to collect and verify information relating to your identity. Subject to your consent, we will disclose your name, address and date of birth in order to access identification information electronically held by credit reporting bodies, the government’s Documentation Verification Service (DVS)1 and other public records.
To access such information, we use a service provider registered under the DVS. The service provider, may, for verification purposes on our behalf:
- request that a credit reporting body provide us with an assessment as to whether your personal information matches that held in their credit information files. (In preparing this assessment, the credit reporting body may use the personal information of other individuals);
- disclose your personal information to the DVS;
- search other public records.
We are also required under the State based real property laws to collect personal information and verify the identity of mortgagors for mortgages (VOI). These laws are: the Electronic Conveyancing (Adoption of National Law) Act 2012 (NSW), Electronic Conveyancing (Adoption of National Law) Act 2013 (Victoria), Electronic Conveyancing National Law (Queensland) Act 2013 (Queensland), Electronic Conveyancing Act 2014 (Western Australia), Electronic Conveyancing National Law (South Australia) Act 2013 (South Australia), Electronic Conveyancing (Adoption of National Law) Act 2013 (Tasmania), Electronic Conveyancing (National Uniform Legislation) Act 2013 (Northern Territory) and Electronic Conveyancing National Law (ACT) Act 2020 (Australian Capital Territory).
If you do not consent to these processes, alternative forms of verifying your identity are available on request.
If we are unable to verify your identity using the above methods, you will be provided with a notice to that effect. You may then be asked to provide further evidence of your identity. If we are unable to verify your identity to our satisfaction, we will not be able to admit you to membership or provide you with the services or products you seek.
1. The DVS is a national online system that allows personal identifying information about individuals to be compared against government records. Your information will be matched against that held by the relevant government department or agency. You can find out more about the DVS on their website.
Sending information overseas
Depending on our commercial arrangements, we may disclose personal information about you to business partners with operations overseas or who store personal information overseas (e.g. providers of Lenders’ Mortgage Insurance (“LMI”).
Our Privacy and Credit Reporting Policy
Our Privacy and Credit Reporting Policy is available on our website. It contains information about:
- how we collect, use, hold and disclose your personal information
- how you can access personal information about you
- how you can seek correction of that personal information
- how you may complain if you think we may have breached your privacy
- how we will deal with your complaint and
- how we manage credit information.
How to contact us
If you have any queries regarding privacy, use any of the methods set out below:
Teachers Mutual Bank Limited
Address: 28-38 Powell Street, HOMEBUSH NSW 2140
Phone: 13 12 21
Email: [email protected]
Post: PO Box 7501, SILVERWATER NSW 2128
Download a PDF copy of our Privacy Notice
V14 2023 08 23