Information update following our recent correspondence to all members regarding the Central Credit Register (CCR), being set up by the Central Bank of Ireland, under the Credit Reporting Act 2013.

The Central Credit Register is a national database that will, if requested, provide:

• the borrower with their credit report detailing their credit agreements
• the lender with information to help with credit assessments
• the Central Bank with better insights into national trends in giving credit

The Credit Reporting Act 2013 requires us to process your personal and credit information for the Central Credit Register. From June 30 2017, we have to share information to the Central Credit Register that we may already have about you, such as:

• your name
• your address
• date of birth
• personal public service (PPS)

This information is needed by the CCR to ensure it matches with the information on your loans, including loans from other lenders. Giving you a full and accurate credit report is one of the main aims of the CCR. We will submit credit information each month about your loans if your loan is for €500 or more.

Your information will be securely stored and cannot be accessed by anyone else without your written consent. The CCR will not calculate a score for your credit report. Information will be kept on the Central Credit Register for five years after your loan is paid off.

In 2018, credit reports will become available from the CCR. You can request your report at any time and are entitled to one free report each calendar year.

The only time lenders can access your credit report is:

• when considering an application for a new loan
• if you ask to change the terms of your loan
• if they are reviewing a loan in arrears

If you have any questions about the Central Credit Register, please contact us on 021 489 4555.