codes of conduct - building societies

The conduct of Building Societies and Credit Unions is governed by their respective Codes of Conduct. The Codes apply where an individual for personal, domestic or household purposes makes a deposit or obtains a loan or other facility. But it doesn't apply to a number of services, including one involving a bill of exchange, an insurance or financial planning product or service and credit without prior agreement.

Both Codes acknowledge privacy duties under legislation, specifically the Privacy Act 1988. The Codes also expressly provide for compliance with the requirements of the Credit Reporting Code of Conduct issued by the Privacy Commissioner.

The Codes allow for the disclosure of customer or member information to a Related Entity:

Under the codes:

In addition, the Credit Union Code acknowledges the general law duty of confidentiality and specifies its four exceptions.