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Frequently Asked Questions

Q. When applying for membership, do I have to submit all the information at the same time?

A.   Yes.  Whilst not mandatory, it is certainly preferred.  If all required information is not submitted at the same time, your application may incur delays in processing. 

Q. How long before I hear if my application has been successful?

A.   If your application is complete, your references will be checked and your application tabled at the next Committee meeting.  You will be notified via email a.s.a.p. following the Committee meeting whether or not your application has been successful.

Q. How often are Committee meetings held?

A.   Committee meetings are usually held on the 2nd Wednesday of the month. Please see calendar & events for a current schedule.

Q. Do I send payment with my application?

A.   No. Tax Invoice/s will be emailed following ratification of your application by the Committee.

Q. Who do I send my membership application to?

A.   Please complete your application online or email to  info@cafba.com.au or post to CAFBA, P.O. Box 576, Crows Nest  NSW  1585.

Q. I sent my application weeks ago. Why haven't I heard anything?

A.   It may be your application was incomplete, waiting on referees to respond or waiting on the next Committee meeting.  If you are concerned, please email your enquiry to  –  info@cafba.com.au

Q. Do I need to supply current documents?

A.   Yes.  Your National Criminal History Record Check should be dated with 12 months of your application and your VEDA Credit History Report within 3 months of your application. All other documents, such as your Certificate IV qualification (or higher) are required to be current on the day of application.

Q. Who is CIO?

A.   CIO is the Credit and Investments Ombudsman and is one of the External Dispute Resolution schemes approved by CAFBA.  www.cio.org.au

Q. Who is FOS?

A.   FOS is the Financial Ombudsman Service and is one of the External Dispute Resolution schemes approved by CAFBA.  www.fos.org.au

Q. Do I have to be a member of CIO or FOS?

A.   Yes.  Full Members are required to hold membership of either one. Membership Certificates must be consistent with the name of the firm applying for Full Membership.   Associate Members are required to hold membership under their own name or or be covered under the Full Members’ membership.

Q. What is Full Membership?

A.   All broker firms are Full Members.  A Full Member cannot be a member without at least one Associate Member. Full Members need to be approved by the Committee.

Q. What is Associate Membership?

A.   An Associate Member is the broker / business writer/s of the Full Member firm.  An Associate Member cannot be a member without the Full Member holding current membership. Associate Members need to be endorsed by the Committee.

Q. What is Affiliate Membership?

A.   An Affiliate Member is a lender or organisation who provides a direct benefit to CAFBA members. Affiliate Members need to be approved by the Committee.  Affiliate Members do not carry voting rights.

Q. What is the requirement for Full Membership?

A.   Directors of firms applying for Full Membership are required to –
    *  Complete the online Full Membership Application – list all directors / brokers / business writers who are nominating for membership under the Full Member.
    *  Check the Code of Conduct box on the online application as acknowledgement you will abide by CAFBA’s Professional Standards

    *  Attach a signed copy of CAFBA’s Professional Standards for each director / broker / business writer applying for membership.
    *  Attach National Criminal History Record Checks (dated within 12 months of application) for each director / broker / business writer applying for membership
    *  Attach VEDA Credit History Reports (dated within 3 months of application) for each director / broker / business writer applying for membership

Attach as the minimum education standard, copies of Certificate IV in Financial Services (Finance/Mortgage Broking) for each director / broker / business writer applying for membership
    *  Submit completed membership application with –
             *  Signed copy of CAFBA’s Professional Standards for all applicants
             *  Police and credit checks for all applicants 

*  Certificate IV (or higher) for all applicants

             *  Copy of PI Certificate of Currency
             *  Copy of External Dispute Resolution Scheme (EDR) membership certificate
             *  Copy of Internal Dispute Resolution (IDR) policy manual
    *   Pay joining fee and membership fee on receipt of Tax Invoice.

Q. Who is a 'Nominated Representative'?

A.   A ‘nominated representative’ is the person nominated by the Director/s of the Full Member firm to be the primary contact for the firm.  The nominated representative carries voting rights for the Full Member firm.  The nominated representative will be responsible from time to time for following up requested information and RSVPs for events/functions.

Q. What is the requirement for Associate Membership?

A.   Brokers applying for Associate Membership are required to –
     *  Complete the online Associate Membership Application.
     *  Check the Code of Conduct box on the online application as acknowledgement you will abide by CAFBA’s Professional Standards.

     Submit completed application form with the following attachments –
            *  Signed copy of CAFBA’s Professional Standards

            *  National Criminal History Record Check dated within 12 months of your application
            *  VEDA Credit History Report dated within 3 months of your application
            *  Evidence of coverage under your Full Members’ PI Insurance Policy, External Dispute Resolution  scheme and Internal Dispute Resolution Procedure manual.

Q. What is the requirement for Affiliate Membership?

A.   Financiers / organisations applying for Affiliate Membership are required to –
      *  Contact the CEO, David Gill  ceo@cafba.com.au to discuss their eligibility.

Q. Are CAFBA members permitted to use the CAFBA Logo?

A.   Yes.  Please log in to the Members Only section to retrieve the CAFBA logo in various formats.

Q. What does the future hold?

A.  *  As from 1 July 2013– Members will be required to accrue 20 CPD hours (or pro-rata).  These can run concurrently with CPD hours accrued for other industry bodies – MFAA and/or FBAA.
      *  As from 1 July 2014 – As a minimum educational qualification, members are required to hold Cert IV in Financial Services (Finance/Mortgage Broking) or a relevant equivalent educational qualification.
      *  Members are required to refresh their National Criminal History Check and Credit History Report every 5 years.