NZCU Baywide awarded 5-stars four years in a row for Outstanding Value personal loans. Your customers are in award-winning hands.

2016 2017 2018

Personal loans adviser packNZCU Baywide credit union balances our social and commercial purpose.

We re-invest our profits to improve services for our members. Since 1971 we’ve been helping kiwis with better everyday banking.

It’s that simple.

Why our personal loans?

Unsecured loans up to $50k

Up to 7 year term

Great commissions

Fast turnaround

2019

100% Kiwi Not-for-profitCustomer-owned

Credit Union Baywide trading as NZCU Baywide. Terms and conditions and normal lending criteria apply. A $250 approval fee and other fees apply for personal lending. All variable rates, fees and returns are subject to change without notice. The CANSTAR 5 Star Rating was awarded in December 2016, 2017, 2018 and 2019 to NZCU Baywide for Orange Personal Loans.

NZCU Baywide is proud to be a credit union and not a registered bank.

nzcubaywide.co.nz 0800 229 943 Terms and conditions and normal lending criteria apply. A $500 approval fee and other fees apply for home lending. A $250 approval fee and other fees apply for personal lending. NZCU Baywide is proud to be a credit union and not a registered bank.

A complete and accurate application could mean a faster approval and money with your customer sooner.

Please email information below in your application pack and CC in your BDM to:

• onlineloans@nzcubaywide.co.nz for personal loans

• enquiries@nzcubaywide.co.nz for home loans

1. Signed application form and disclosure

2. Photo ID either

a) NZ driver licence - front and back or b) Passport

3. Bank statements of ALL accounts for the last 3 months

4. Signed Sales and Purchase Agreement (Home loan applications only)

Additional information may be requested during the assessment process including but not limited to below. - Foreign passports, must be certified by a JP- Non NZ citizens, copy of Permanent Resident Visa- If self employed, last 2 years financial accounts and last year’s IRD summaryRefer to our Adviser pack and lending policy for more details.

Loan application checklist

Why NZCU Baywide? Personal loans:

• Unsecured personal loans up to $50k

• Up to 7 year term

• Great commissions

Home loans:

• 90% LVR (loan to value ratio)

• First home buyer specialist

Note – Pricing current as at 27 July 2020, subject to change. Variable interest rates. Terms and conditions and

normal lending criteria apply. A $250 approval fee and other fees apply.

*As published on interest.co.nz as at 21 July 2020.

Personal loans - indicative pricing

Some of

New Zealand’s

lowest personal

loan rates*.

We use Comprehensive Credit Reporting and the application characteristics to assess the applicant’s risk profile and provide

an application score. This score places the application within one of these ten bands to determine the interest rate.

9.90+1%unsecured10.90% 12.90% 14.90% 16.90% 18.90% 20.90% 22.90% 24.90% 26.90% 28.90%

Unsecured personal loans - price % p.a.

Secured personal loans - receive a 1% p.a. discount.

Low risk High risk

NZCU Baywide will lend to:Personal customers (i.e. not commercial entities or trusts).Applicants aged 18 years and over, NZ Citizens and Permanent Residents.

IdentificationPhoto ID is required – a current NZ driver licence or NZ passport. For foreign passports we require a colour copy, certified by a JP.

Security• Secured and unsecured personal loans.• Security must be valued at more than 50% of the loan

amount and must be less than 10 years old.• For secured vehicle loans the applicant must hold a

learner, restricted or full licence.

We’re one of only a few providers who will consider learner licence applicants for vehicle loans.

Loan purposeNZCU Baywide will lend for most purposes, excluding payment of unpaid fines, clearing of current defaults or IRD

arrears.

Credit checkA credit check is required for every application. A privacy waiver covering each individual applicant and/or guarantor must be obtained. If an applicant’s Credit Bureau Score is below 230 it is unlikely to be approved.

AssessmentNZCU Baywide utilises CCR and a Credit Scorecard for enhanced decisioning. See the personal loan pricing matrix for interest rates based on risk assessment.We’ll consider applicants with:• less than six months employment history. • paid defaults (with satisfactory explanation).

Average interest rate of 15.9% should be used in the NSR Calculator for assessment.

Next of kinEach applicant requires name, address and phone details of one relative or close friends who reside in NZ but are not living with the applicant.

Personal loan policy guide

We’re one of only a few providers offering personal

loans up to $50k

Term 1 - 7 years P&I only

Loan amount $2,000 - $50,000

Approval fee $250

Repayment frequency Weekly, fortnightly, monthly

NSR maximum 95%

Loan policy guide pg 1 of 2

Current as at 27 July 2020

Salary and wages (including bonus or overtime income)

Seasonal workers

Casual workers

Bank statements showing wages credited to account a minimum of three most recent pay periods; or recent payslip confirming annual income; or most recent IRD tax assessment/return.

A year-end payslip or two years tax statements.

12 months with the same employer and a tax summary showing 12 months history.

Government benefits (job seekers, sole parent, sickness, NZ super, ACC)

Family Assistance (working for families, disability)

Acceptable if it’s clearly a permanent source of income.

Acceptable for children of any age.

Rental income - scaled at 75%

Boarder income - scaled at 50%

Evidence of regular payments to account.

Evidence of regular payment to account (not cash). Boarder must not be a family member. Maximum of one boarder.

Self-employed/business income Last two years financial accounts prepared by an accountant. For non true trading entities (e.g. IT contractor), IRD returns are acceptable for the past two years.

Acceptable income and verification

Loan policy guide pg 2 of 2

Current as at 27 July 2020

This is a summarised version of NZCU Baywide lending policy. NZCU Baywide reserves the right to amend or introduce new policy requirements. Terms and conditions and normal lending criteria apply. A $250 approval fee and other fees apply.

Income source Verification requirements

Unacceptable income

• Student allowance

• Child support

• Irregular income

• Income received in cash

• Non-permanent benefits e.g. temporary accommodation supplement

Shared expenses

Where an applicant is in a de-facto relationship or married, the application is to include all joint liabilities (ie no halving of

loans or repayments, the full liability is required).

Other requirements

For vehicle loans, the applicant can hold a NZ learner, restricted or full driver licence.

Full insurance, with the interest of NZCU Baywide noted on the policy, is required when an asset will secure the loan.

What is an NSR?

The Net Servicing Ratio is a measurement used to calculate

the cash available to customers after all expenses and

debt is serviced. NZCU Baywide’s calculator is configured

so the lower the number the better their NSR score. For

example, an NSR of 70% means the customer would need

70% of their income to meet all of their obligations including

servicing the new proposed debt. The NSR score is a good

guide for you on the likelihood of approval and interest

rate. It is not required to be submitted with NZCU Baywide

applications.

What is debt consolidation?

Often customers take on multiple, small debts such as

HPs, credit cards and personal loans usually for consumer

purchases, holidays or just to help them get by. When the

debt stacks up and interest free periods expire, customers

find it difficult to dig their way out.

A debt consolidation loan is a personal loan for the purpose

of repaying all of the smaller, usually higher interest, debts.

The debts are added together into one personal loan so

they only have one easy to manage and more affordable

monthly loan repayment. This helps increase their monthly

cashflow to provide a bit of breathing room for everyday

living expenses.

What other information should I provide alongside the

application?

As an adviser you are advocating for your customer and by

submitting the application you are providing your support

for the deal. The application itself only includes facts and

figures. Sometimes it’s good to get more of an explanation

of their strengths, weaknesses and background - what you

see and why you think we should approve it.

Provide diary notes with your application that include more

qualitative details such as: employment details, dependent/

custody information, liability information and account

conduct.

What is comprehensive reporting?

CCR is a standard credit reporting tool, also known as

‘positive reporting’. Companies contribute the repayment

history of their customers to the credit bureaus. This

provides are clearer view of the applicant’s finances as it

includes their full repayment history rather then just the

negative information, ie defaults.

Some of the information now available through CCR:

• Type of credit applied for

• Amount of credit applied for

• Date credit accounts were opened and closed

• Maximum credit amount available for each account

• Repayment conditions

• Monthly repayments for the last two years

• Details of default agreements

This information provides our lenders with more decisioning

power, particularly for ‘marginal’ deals.

All banks and most telcos contribute to and consume

comprehensive reporting. There is a current shift in the

market with tier 2 credit providers moving over to CCR.

What is a credit scorecard?

A scorecard is a predictive model that incorporates key

credit risk characteristics of a defined population, to quantify

the likelihood of an individual applicant defaulting on their

loan.

This enables more accurate decisioning, which provides

NZCU Baywide with speed, control and consistency over its

credit decisioning process at a portfolio level.

Why CCR and Scorecard decisioning?

By taking a portfolio approach we can objectively and

consistently understand the risk of each customer and price

more accurately, while delivering a faster service.

There has been a significant change in customers

expectations and in a generation where instant gratification

is the norm - they expect more, with less effort.

These decisioning enhancements will allow us to deliver on

these expectations.

FAQs

Terms and conditions and normal lending criteria apply. A $250 approval fee and other fees apply.

Where to look for debt consolidation opportunities

When you see any of these names pop up on your customer’s bank statements it’s an indication of an opportunity to wrap that debt into one easy personal loan with NZCU Baywide.

The benefits for your customer could be: • lower weekly repayments• lower interest rates• improved serviceability

We can consolidate:• Credit cards• Personal loans• Vehicle finance• Hire purchases• Store cards• Student loans• Medical/dental bills

and more...

OPPORTUNITIES

Variable interest rate. Terms and conditions and normal lending criteria apply. A $250 approval fee and other fees apply for personal loans.

Jane RileyBusiness Development Managerm: 027 266 6681e: janer@nzcubaywide.co.nz

Andrew WebsterBusiness Development Managerm: 027 589 6331e: andrew.webster@nzcubaywide.co.nz

visit nzcubaywide.co.nz for more detailsServicing personal loans onlinee: onlineloans@nzcubaywide.co.nzph: 0800 229 943

We’re here to help!

Credit Union Baywide trading as NZCU Baywide. Terms and conditions and normal lending criteria apply. A $500 approval fee and other fees apply for home lending. A $250 approval fee and other fees apply for personal lending. All variable rates, fees and returns are subject to change without notice. The current Product Disclosure Statement, other disclosure statements and rates and fees are available on the Offer Register at disclose-register.companiesoffice.govt.nz, on nzcubaywide.co.nz or on request from NZCU Baywide. Credit Union Baywide savings are shares secured by a first ranking security over Credit Union Baywide’s assets. NZCU Baywide is proud to be a credit union and not a registered bank.