The information, which is held on the ICB database relates to credit agreements between these ICB members and their customers/members. A condition of such agreements is that the customer agrees that the financial institution/Credit Union may use the data supplied for the purpose of credit checking. Consequently, where an individual enters a credit agreement with an ICB member, details of the individual’s performance in complying with the terms of the agreement are input to the ICB “credit file” database, which may be accessed by all member institutions of ICB. Each time a person applies for credit from an ICB member, that institution accesses the ICB’s “credit file” to ascertain the applicants performance under any previous credit agreements with ICB members.
1. I / We authorise the Credit Union to process and retain data provided by me/us in respect of this application, to seek and provide credit references (searches), to record details of any transaction which may result from this application with Irish Credit Bureau Limited (ICB) and ICB to record, retain and disclose to its members details of such searches for a period of one year.
2. I / We acknowledge that the Credit Union and/or ICB are permitted to disclose any material misstatement of fact contained in the application for financial accommodation to its members and relevant bodies. I / We consent to any such application being processed, recorded and retained by ICB.