Credit History Check

Any position with a high level of accounting and financial responsibility and any role that has financial delegated authority to approve expenditure shall provide two credit history checks to identify whether the applicant is under financial stress, whether they have judgements against them and whether they have been classed as bankrupt. This provision shall apply to all positions as identified in the summary of the suite of pre-employment checks.

All positions requiring a credit history check will have this requirement included in the job description. The Credit Check involves two checks:

  • Credit History Check by Equifax
  • Insolvency register - ‘No Asset Procedure” (NAP) Check.

It is important to note that these checks will be required for the position not the applicant i.e. all preferred applicants will be subject to this check regardless of whether they are an external or internal applicant.

1. Equifax (previously Veda Advantage) credit check

Important note: Please note that Veda Advantage (Ltd) has re-branded to Equifax.

A copy of the  ‘My Credit File Application’ form will be attached to ImpelHR by the hiring School/Institute/Service for applicants to view, download and print.

Credit History Check.pdf

The Chair of the Selection Committee shall ensure the applicant completes the pre-employment credit check by completing the ‘My Credit File Application’ form. Once completed the applicant will send this to Equifax for processing. The form requests details of the applicant’s credit history and all sections must be completed by the preferred applicant. With the consent having been obtained, the hiring manager has several options for obtaining a credit report, depending on how quickly the report is needed:

A. Fast track

Managers may choose to use Massey University’s online subscription with Equifax which will enable the fast track credit check to be completed. The results are almost instantaneous and can be downloaded as a PDF file as soon as the check is complete.  Should this option be chosen, there is an associated cost that will be met by the hiring managers budget. 

The cost for this service is currently $17.35 + GST per credit check and this cost will be invoiced from Equifax to People and Organisational Development on a monthly basis. This cost will then be forward to the appropriate manager's budget via internal transfer.

To access this service, please contact the Staff Recruitment Coordinator at recruitment@massey.ac.nz. Once a manager's access is confirmed, the Staff Recruitment Coordinator will provide the manager with the login details to access the Equifax online subscriber website. 

For further information on the fast track process please view the document below which outlines the process for managers to gain access to the online system as well as how make online credit history requests.

Guidelines for Veda Advantage Fast Track Process.doc

B. Start standard process early, at short listing stage

As the process of requesting a credit history check could potentially add time to the appointment process of up to a maximum of 20 days, managers may consider requesting a credit history checks for all short listed applicants prior to interviewing. 

C. Standard process (up to 20 days plus)

Once the ‘My Credit File Application’ form is completed the applicant will send this to Equifax Limited for processing. This form is processed free of charge and response is provided to the applicant within 20 working days. The applicant will then be required to forward this information to the Chair of the Selection Committee.

2. Insolvency register – ‘No Asset Procedure (NAP)’ credit history check

In addition, the Chair of the Selection Committee will complete a ‘No Asset Procedure (NAP)’ credit history check to determine whether the preferred applicant has entered into an insolvency procedure. This will involve checking the insolvency register available at the Insolvency and Trustee Service (Ministry of Economic Development). This is free of charge and results of the check are instant.

The normal University approval process for the preferred applicant can commence immediately. However if the credit history check is not yet received from Veda Advantage (NZ) Limited by the time the offer of employment is ready to be made in writing, then the offer of employment must be made expressly conditional on a satisfactory check by Veda Advantage (NZ) Limited and the need for the credit history information to be received and considered by Massey University to meet the University standard. Please note that if a conditional offer of employment is extended, and accepted by an employee, they must not commence duties before the information has been received and considered by Massey University to meet the University standard unless this on a casual employment agreement basis.

Wherever the credit history information requested provides evidence of the preferred applicant having a credit history of a significant concern e.g. records of payment defaults (overdue accounts), District and High Court judgements, bankruptcy listings, collection agency defaults; the applicant may only be appointed with the approval of the Vice-Chancellor.

The appointing manager will send any appointment files where a credit history is evident, to the Vice-Chancellor for consideration and will also check the initial application form to ensure that correct information was disclosed with regard to their credit history.

The Process Map of Credit History Checking illustrates the process to follow when completing this check.

 

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