Who We Represent
NCPA caters for two different levels of membership: General Members and Associate Members. Each of these membership levels are described below and there are email links to ask for more information if you are interested in joining the Association.
The following graphic shows diagrammatically where our General Members sit in the Australian credit industry landscape. As the graphic shows, our General Members are regulated by the National Consumer Credit Protection Act (2009) which also regulates the Australian banking industry. NCPA General Members are ASIC licensed non-ADI credit providers who supply consumer financial products under the National Consumer Credit Protection Act (2009).
Just like the banks, our General Members are also required to hold ASIC issued credit licenses to be authorised to provide Consumer Credit. But unlike the banks, our General Members are further subject to extra legislation and regulations under the NCCP Act which means that our General Members have to do more research on a consumer who wishes to acces a finance product such as a loan for as low as $100 than the banks have to do on any larger personal loan or property loan.
The Association represents non-deposit-taking (Non-ADI*) ASIC licensed finance providers. These lenders operate from retail and third-party locations across Australia or from dedicated online platforms. Our General Members now represent a considerable number of consumer lease providers, medium amount credit contract providers (MACC), other credit product providers (AOCC), and a large proportion of the consumer small amount credit contract (SACC) market.
Our diverse General Membership ranges from small to very large entities and includes franchisors, franchisees, private and ASX listed companies, as well as smaller independent operators. All General Members offer consumer finance products under the National Consumer Credit Protection Act (2009). Finance products include consumer leases and loans to customers for amounts from $50 to $50,000 for terms from a number of weeks to several years. Some General Members provide just the one type of finance product, while other members provide a wide range of loan types and services and other financial products, such as brokerage for commercial loans and home loans.
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Associate Members provide ancilliary and supportive services to our industry sector which are vital to helping our General Members provide customer finance products and carry out their 'responsible lending/leasing obligations" which says that the finance product must not be 'unsuitable' for the applicant. Such Associate Members provide, for example, intergrative software that greatly reduces the time and cost of providing and collecting loans and leases. Also solicitors who provide sepcialist legal advice in the non-ADI finance product industry stay abreast of the issues affecting the industry by becoming Asssociate Members of the NCPA.
Click here to become an Associate Member of NCPA