Borrower Hardship Assistance

Assisting Borrowers Facing Financial Hardship – the mutual approach.
 

Borrowers who fall into financial hardship should be treated with care and respect. Credit unions and mutual building societies support the Government’s initiative to ensure that all borrowers experiencing financial hardship are treated according to some common standards of assistance by lenders.
 

Heritage Isle Credit Union has adopted the borrower hardship principles agreed between the Government and the four major banks, with some variations and additions to reflect the features that distinguish Credit Unions from the major banks. These distinguishing features are our mutual status, smaller size, commitment to personal service and record as responsible lenders. Our customers are our owners and are treated accordingly. Click here for the Mutuals Guiding Principles 

At HICU we understand members personal circumstances can change unexpectedly, which can lead to difficulty meeting your financial commitments. Circumstances may include;

• Unemployment
• Illness
• Relationship breakdown
• Reduced working hours
• Redundancy

We are here to help, so give us a call today to discuss your situation and what options are available.
 

How to apply for Financial Hardship

• Complete financial hardship application form.
• Contact your local Branch Manager to make an appointment to discuss your financial situation.   Click here, for contact details 
   

Financial counselling services

Financial counsellors can help you get back on track in terms of your financial commitments, and can guide you in dealing with lenders. For access to financial counselling services in all States and Territories, go to the Commonwealth Financial Counselling Directory  or the Australian Financial Counselling and Credit Reform Association

 If you are not satisfied with the outcome of your application, click here for further information on complaints handling.