Terms and Conditions

Version Date: September 21, 2020

This agreement governs your use of the Coast Capital Savings Federal Credit Union (“CCS”) online lending application tool. If you are applying for a personal lending product, you agree to be bound by these terms and conditions and waive any notice requirements of the same. If you are applying for a lending product on behalf of a business, you agree that these terms and conditions bind the business and waive any notice requirements of the same. By proceeding with the online lending application process, you agree to the following terms:

Your obligation to provide accurate and current information

You agree to provide accurate and current information. A failure to provide accurate and current information may result in CCS being unable to accept your application.

Use of your personal information

When you apply for a lending product, either for yourself or on behalf of a business, CCS uses the credit reporting agencies Equifax to verify your identity and to conduct a credit assessment. This involves CCS providing to Equifax the information that you have supplied during the application process. CCS also obtains a copy of your credit report from the credit reporting agency in order to determine whether you qualify for the lending product. Equifax may, in turn, request information about you from other credit reporting agencies, other financial institutions, telecommunications service providers or other organizations.

By agreeing to these terms and conditions and continuing with the online lending application process, you expressly consent to CCS and Equifax verifying and comparing your information (for example your first and last name, mobile phone number, etc.), account information (for example account status, account type, etc.), location information (for example your latitude, longitude, etc.), credit history (for example your outstanding debts, repayment history, defaults, etc.) to records of your information maintained by third parties, including credit reporting agencies, other financial institutions and telecommunication services providers, and you consent to such third parties providing such information to CCS and Equifax for the purpose of identity validation and credit assessment.

You have the option to provide your Social Insurance Number (“SIN”) as part of the application process to enable CCS to verify your identity. CCS’s use of your SIN for other purposes, and your ability to opt out of that use, is set out in CCS’s Privacy Policy.

For more information on how CCS handles your personal information, and to find out who to contact to request more information, please see our Privacy Policy.

Use of your email address

CCS will use email to correspond with you and with any co-borrowers (or, in the case of business memberships, other representatives of the business) throughout the application process. You are responsible for ensuring you check your email regularly to receive notices from CCS in a timely manner, and for ensuring that any co-borrowers (or other business representatives) do the same.

If you start an online application for a lending product and the application process is not completed, CCS may send you emails to let you know about the steps required to complete your lending application. By using the online application tool, you consent to receiving a reasonable number of emails for this purpose.

Use of phone number

CCS may use phone to correspond with you and with any joint applicants throughout the application process.

Additional Terms for Business Membership

If you are applying for a business lending product, you state that you have been granted the authority by the business to apply for a lending product on its behalf. During the application process you, or if necessary other representatives of the business, will be required to accept our lending and other agreements on behalf of the business.

Depending on the type of business you represent, CCS may require documentation such as a statement of registration or business license, a partnership agreement or articles of incorporation. You will be asked for the necessary documents during the application process. If you are unable to provide the necessary documents, CCS may be unable to accept your application. CCS may also use a third party service provider to verify these documents or to obtain additional information about the business.

Liability

CCS and its service providers are not responsible for any losses you or any other person or business may sustain arising from a failure of CCS to approve a lending product within a given period of time or at all.

General

The application process will be conducted entirely online. The terms that you agree to in the course of the application process, including the terms contained in this agreement, the Personal Account and Services Agreement or Business Account and Services Agreement, and the Privacy Policy, will be legally binding just as they would be if you were to fill out and sign a paper application. These terms will be legally binding as of the time that you indicate that you agree to them and no exchange of signed paper copies is required for them to be enforceable.

This agreement is governed by the laws of the Province of British Columbia and the federal laws of Canada applicable in British Columbia, irrespective of where you live or where you are located when you apply for a lending product. CCS may amend this agreement from time to time without prior notice to you or any co-borrowers.