Membership Options & Fees

Accredited Member - $420.00 per annum

Available to an approved individual, company or partnership carrying on the business of a general finance broker, mortgage originator, or equipment finance broker and includes independently owned businesses operated under a franchise agreement or subcontract arrangement with an aggregator. This category carries full voting rights.

 

Benefits

  • The right to use the post-nominal ‘AFB’ being the acronym for ‘Accredited Finance Broker’
  • Full voting rights with FBAA, the broking industry’s peak body
  • Annual Membership Certificate
  • Listing on the FBAA website in “Find a Member”
  • Use of the FBAA logo for your stationery and/or advertising materials
  • Credibility with lenders and consumers as a member of the broking industry’s peak body
  • Regular industry updates via our E-News and E-Mag, The Finance Professional
  • Representation to the Professional Indemnity Insurance Industry and member discounts to approved applicants
  • Free entry to FBAA hosted Continuing Professional Development (CPD) events
  • Free entry to the FBAA Annual National Industry Conference
  • Representation with State and Federal Government regarding regulation of the finance broking and mortgage origination industries and representation in Government and industry forums
  • Internal Disputes Resolution process to effectively and promptly deal with consumer grievances and disputes between members
  • Use of the boardroom at the FBAA National Office at no charge (email events@fbaa.com.au for bookings – bookings are subject to availability)

Requirements

Please read the requirements listed below. For your convenience, download this checklist to assist you in compiling your supporting documentation.

Please complete the online application form and then upload your documents to your personal Document Portal – the link to which will be emailed to you as soon as you submit an application.

  1. Payment of the membership fee ($420.00) plus application fee ($110.00) being $530.00. Click here to download the payment form. Note that the application fee is a once-off fee and is non-refundable.
  2. Certificate IV in Finance and Mortgage Broking FNS40815 or the equivalent.
    • Note that if your qualification pre-dates the National Consumer Credit Protection Act (July 2010), you must provide evidence of continuous industry specific experience or obtain an ‘upgrade’.
    • Contact FBAA if you require further information regarding the qualification ‘upgrade’.
  3. An FBAA approved ‘individual’ AML/CTF (Anti-Money Laundering and Counter Terrorism Financing Act 2006) compliance training certificate. Note that the certificate must be current (not older than 2 years) and must be finance industry specific. Contact us for a list of approved AML/CTF certificates.
  4. National Police Check (must not be more than 2 months old). Click here to order your Police Check with Verify.
    • Where the applicant is a company, partnership, business or firm; all directors, partners and principals directly engaged in the business must provide this document.
  5. Credit Report (must not be more than 1 month old). Click here to order your Credit Report including Bankruptcy Check with Verify.
    • A separate bankruptcy search will not be required if it is included in the Credit Report.
  6. Bankruptcy Search (must not be more than 1 month old). Not required if it is included in your Credit Report.
  7. Declaration Letter of any pending charges or convictions for fraud or dishonesty and any pending bankruptcy etcetera.
    • Note: This is required even if there are no pending charges.
    • Click here to download a template Declaration Letter.
  8. Current professional resume.
  9. Evidence of minimum 2 years proven experience in the finance (lending) industry (professional resume is sufficient).
    • Note: Where an applicant has less than 2 year’s industry experience, the applicant must be mentored by an individual with relevant industry experience as approved by FBAA.
    • The period of mentoring will be equivalent to 2 years of experience and will continue until the Mentor is satisfied that the individual has gained sufficient industry experience.
  10. Confirmation of Mentoring Letter completed by the Mentor. Click here to download a template Confirmation of Mentoring Letter.
    • Note: the Mentor must have relevant industry experience as approved by FBAA.
    • The period of mentoring will be equivalent to 2 years of experience and will continue until the Mentor is satisfied that the individual has gained sufficient industry experience.
  11. Details of 4 professional referees.
    • Note: that your referees must be industry specific, ideally lenders. If you are unable to obtain 4 professional lending referees, we will accept your aggregator as one of the 4 referees.
    • Please note that all referees are contacted by FBAA staff. As a courtesy, please advise your referees to expect a call.
  12. Driver’s licence and/or Australian passport.
  13. Evidence of membership of an ASIC approved External Dispute Resolution Scheme (EDR). The FBAA’s preferred scheme is Financial Ombudsman Services (FOS). Go to www.fos.org.au to apply. The Credit & Investments Ombudsman (CIO) is also acceptable.
    • Note: you may be covered under your employers EDR; evidence must be provided.
  14. ASIC Extract (must be current). This is required where the applicant is a company and must list all current directors and shareholders.
  15. Australian Credit Licence (ACL) or Authorised Credit Representative (ACR) – where the applicant is conducting consumer lending.
  16. Business Name Registration where applicable.
  17. Current professional indemnity insurance (PI) Certificate of Currency OR a letter of intent from your employer or PI provider that you will be covered under their policy, OR a copy of the completed application form for PI cover.
Associate Member - $310.00 per Annum

FBAA Associate Membership is only available to brokers & loan writers with less than 2 years relevant finance & mortgage lending industry experience and who are nominated by a current FBAA Accredited Member or Corporate Member. This category carries full voting rights.

 

Benefits

  • Full voting rights with FBAA, the broking industry’s peak body
  • Annual Membership Certificate
  • Listing on the FBAA website in “Find a Member”
  • Use of the FBAA logo for your stationery and/or advertising materials
  • Credibility with lenders and consumers as a member of the broking industry’s peak body
  • Regular industry updates via our E-News and E-Mag, The Finance Professional
  • Representation to the Professional Indemnity Insurance Industry and member discounts to approved applicants
  • Free entry to FBAA hosted Continuing Professional Development (CPD) events
  • Free entry to the FBAA Annual National Industry Conference
  • Representation with State and Federal Government regarding regulation of the finance broking and mortgage origination industries and representation in Government and industry forums
  • Internal Disputes Resolution process to effectively and promptly deal with consumer grievances and disputes between members
  • Use of the boardroom at the FBAA National Office at no charge (email events@fbaa.com.au for bookings – bookings are subject to availability)

Requirements

Please read the requirements listed below. For your convenience, download this checklist to assist you in compiling your supporting documentation.

Please complete the online application form and then upload your documents to your personal Document Portal – the link to which will be emailed to you as soon as you submit an application.

  1. Payment of the membership fee ($310.00) plus application fee ($110.00) being $420.00. Click here to download the payment form. Note that the application fee is a once-off fee and is non-refundable.
  2. Certificate IV in Finance and Mortgage Broking FNS40815 or the equivalent.
    • Note: If your qualification pre-dates the National Consumer Credit Protection Act (July 2010), you must provide evidence of continuous industry specific experience or obtain an ‘upgrade’.
    • Contact FBAA if you require further information regarding the qualification upgrade.
  3. An FBAA approved ‘individual’ AML/CTF (Anti-Money Laundering and Counter Terrorism Financing Act 2006) compliance training certificate. Note that the certificate must be current (not older than 2 years) and must be finance industry specific.
    • If you need to obtain or update your AML/CTF – apply for membership now and then contact us for the discount code to complete the AML/CTF training at a discounted price.
    • For more information on our AML/CTF training programs, click here.
  4. National Police Check (must not be more than 2 months old). Click here to order your Police Check with Verify.
    • Where the applicant is a company, partnership, business or firm; all directors, partners and principals directly engaged in the business must provide this document.
  5. Credit Report (must not be more than 1 month old). Click here to order your Credit Report including Bankruptcy Check with Verify.
    • A separate bankruptcy search will not be required if it is included in the Credit Report.
  6. Bankruptcy Search (must not be more than 1 month old). Not required if it is included in your Credit Report.
  7. Declaration Letter of any pending charges or convictions for fraud or dishonesty and any pending bankruptcy etcetera.
    • Note: This is required even if there are no pending charges.
    • Click here to download a template Declaration Letter.
  8. Current professional resume.
  9. Evidence of nomination by a current approved FBAA Accredited Member or Corporate Member (your employer).
  10. Confirmation of Mentoring Letter completed by the Mentor. Click here to download a template Confirmation of Mentoring Letter.
    • Note: the Mentor must have relevant industry experience as approved by FBAA and may be the nominee (as above) or someone else.
    • The period of mentoring will be equivalent to 2 years of experience and will continue until the Mentor is satisfied that the individual has gained sufficient industry experience.
  11. Details of 4 professional referees.
    • Note: that your referees must be industry specific, ideally lenders. If you are unable to obtain 4 professional lending referees, we will accept your aggregator as one of the 4 referees.
    • Please note that all referees are contacted by FBAA staff. As a courtesy, please advise your referees to expect a call.
  12. Driver’s licence and/or Australian passport.
  13. Evidence of membership of an ASIC approved External Dispute Resolution Scheme (EDR). The FBAA’s preferred scheme is Financial Ombudsman Services (FOS). Go to www.fos.org.au to apply. The Credit & Investments Ombudsman Service Ltd (CIO) is also acceptable.
    • Note: you may be covered under your employers EDR; evidence must be provided.
  14. ASIC Extract (must be current). This is required where the applicant is a company and must list all current directors and shareholders.
  15. Australian Credit Licence (ACL) or Authorised Credit Representative (ACR) – where the applicant is conducting consumer lending.
  16. Business Name Registration where applicable.
  17. Current professional indemnity insurance (PI) Certificate of Currency OR a letter of intent from your employer or aggregator that you will be covered under their group policy, OR a copy of the completed application form for PI cover.
Corporate Member - $1,980.00 per Annum

Available to approved non-broking entities associated with the finance industry and includes Credit Providers (Banks, Building Societies, and Credit Unions), Mortgage Insurers, Mortgage Managers, Fund Managers, Trustee Companies etcetera. This category has full voting rights.

 

Benefits

  • Full voting rights with FBAA, the broking industry’s peak body (one vote at AGM/EGM)
  • Annual Membership Certificate
  • Listing on the FBAA website in “Find a Member”
  • Use of the FBAA logo for your stationery and/or advertising materials (emailed directly to your printer)
  • Credibility with consumers as a member of the broking industry’s peak body
  • Regular industry updates via our E-News and E-Mag, The Finance Professional
  • Representation to the Professional Indemnity Insurance Industry and member discounts to approved applicants
  • Free entry to FBAA hosted Continuing Professional Development (CPD) events
  • Free entry to the FBAA Annual National Industry Conference
  • Representation with State and Federal Government regarding regulation of the finance broking and mortgage origination industries and representation in Government and industry forums
  • Discounted Certificate IV industry training courses
  • Internal Disputes Resolution Process to effectively and promptly deal with consumer grievances and disputes between members
  • Use of the boardroom at the FBAA National Office at no charge (email events@fbaa.com.au for bookings – bookings are subject to availability)

Requirements

  1. Payment of the membership fee ($1,980.00) plus application fee ($110.00) being $2,090. Click here to download the payment form.
  2. ASIC Extract that lists all current directors and shareholders (must be current).
  3. Evidence of membership of an ASIC approved External Dispute Resolution Scheme (EDR). The FBAA’s preferred scheme is Financial Ombudsman Services (FOS). Go to www.fos.org.au to apply. The Credit & Investment Ombudsman (CIO) is also acceptable.
  4. Current professional resume of all Directors/Partners.
  5. Current professional indemnity insurance (PI) Certificate of Currency.
Corporate Employee Member - $137.50 per Annum

Only available to a PAYG employee loan writer of an existing FBAA Corporate Member. This category carries no voting rights.

 

Benefits

  • Annual Membership Certificate
  • Listing on the FBAA website in “Find a Member”
  • Use of the FBAA logo for your stationery
  • Credibility with lenders and consumers as a member of the broking industry’s peak body
  • Regular industry updates via our E-News and E-Mag, The Finance Professional
  • Free entry to FBAA hosted Continuing Professional Development (CPD) events
  • Free entry to the FBAA Annual National Industry Conference
  • Representation with State and Federal Government regarding regulation of the finance broking and mortgage origination industries and representation in Government and industry forums
  • Internal Disputes Resolution process to effectively and promptly deal with consumer grievances and disputes between members
  • Use of the boardroom at the FBAA National Office at no charge (email events@fbaa.com.au for bookings – bookings are subject to availability)

Requirements

  1. Payment of the membership fee ($137.50). Click here to download the payment form.
  2. Certificate IV in Finance and Mortgage Broking FNS40811 or the equivalent.
    • Note that if your qualification pre-dates the National Consumer Credit Protection Act (July 2010), you must provide evidence of continuous industry specific experience or obtain an ‘upgrade’.
    • Contact FBAA if you require further information regarding the qualification ‘upgrade’.
  3. An FBAA approved ‘individual’ AML/CTF (Anti-Money Laundering and Counter Terrorism Financing Act 2006) compliance training certificate. Note that the certificate must be current (not older than 2 years) and must be finance industry specific. Contact us for a list of approved AML/CTF certificates.
  4. National Police Check (must not be more than 2 months old). Click here to order your Police Check with Verify.
  5. Credit Report (must not be more than 1 month old). Click here to order your Credit Report including Bankruptcy Check with Verify.
    • A separate bankruptcy search will not be required if it is included in the Credit Report.
  6. Bankruptcy Search (must not be more than 1 month old). Not required if it is included in your Credit Report.
  7. Declaration Letter of any pending charges or convictions for fraud or dishonesty and any pending bankruptcy etcetera.
    • Note: This is required even if there are no pending charges.
    • Click here to download a template Declaration Letter.
  8. Current professional resume.
  9. Evidence of PAYG employee status with an existing FBAA Corporate Member.
  10. Evidence of minimum 2 years proven experience in the finance (lending) industry.
    • Note: Where an applicant has less than 2 year’s industry experience, the applicant must be mentored by an individual with relevant industry experience as approved by FBAA.
    • The period of mentoring will be equivalent to 2 years of experience and will continue until the Mentor is satisfied that the individual has gained sufficient industry experience.
  11. Confirmation of Mentoring Letter completed by the Mentor. Click here to download a template Confirmation of Mentoring Letter.
    • Note: the Mentor must have relevant industry experience as approved by FBAA.
    • The period of mentoring will be equivalent to 2 years of experience and will continue until the Mentor is satisfied that the individual has gained sufficient industry experience.
  12. Details of 4 professional referees.
    • Note: that your referees must be industry specific, ideally lenders. If you are unable to obtain 4 professional lending referees, we will accept your aggregator as one of the 4 referees.
    • Please note that all referees are contacted by FBAA staff. As a courtesy, please advise your referees to expect a call.
  13. Driver’s licence and/or Australian passport.
Affiliate Member - $530.00 per Annum

Available to approved individuals and entities not covered by the Corporate Membership category and includes Government agencies, suppliers, other Associations and anyone wanting to remain informed of the FBAA’s activities. This category carries no voting rights

 

Benefits

  • Regular industry updates via our E-News and E-Mag, The Finance Professional
  • Free entry to FBAA hosted Continuing Professional Development (CPD) events
  • Free entry to the FBAA Annual National Industry Conference

Requirements

  1. Payment of the membership fee ($530.00) plus application fee ($110.00) being $640.00. Click here to download the payment form. Note that the application fee is a once-off fee and is non-refundable.
  2. Statement outlining business background and reason for applying for FBAA Affiliate Membership.
  3. Declaration Letter of any pending charges or convictions for fraud or dishonesty.
    • Note: This is required even if there are no pending charges.
    • Click here to download a template Declaration Letter.
  4. Current professional indemnity insurance (PI) Certificate of Currency (only if applicable).
Retired Member - $27.50 per Annum

Available to approved individuals not covered by the Accredited or Associate Membership Categories due to retirement from the finance broking industry and for the purpose of said broker wanting to remain informed of the FBAA’s activities. This category carries no voting rights.

 

Benefits

  • Regular industry updates via our E-News and E-Mag, The Finance Professional
  • Free entry to FBAA hosted Continuing Professional Development (CPD) events
  • Free entry to the FBAA Annual National Industry Conference

Requirements

  1. Payment of the membership fee being $27.50. Click here to download the payment form.
  2. Statutory Declaration confirming that you have retired from the finance broking industry.
  3. Declaration Letter of any pending charges or convictions for fraud or dishonesty
    • Note: This is required even if there are no pending charges.
    • Click here to download a template Declaration Letter.
  4. Current professional indemnity insurance run-off cover
Student Member - $0.00 per Annum

FBAA Student Membership is only available to High School and University students up to the age of 21 years who are currently studying and who are not working full-time. This category carries no voting rights and does not allow the individual to act in any capacity as a finance broker.

 

Benefits

  • Annual Membership Certificate
  • Regular industry updates via our E-News and E-Mag, The Finance Professional
  • Free entry to FBAA hosted Continuing Professional Development (CPD) events
  • Free entry to the FBAA Annual National Industry Conference
  • Representation with State and Federal Government regarding regulation of the finance broking and mortgage origination industries and representation in Government and industry forums

Requirements

  1. Proof of current full-time student enrolment (student card or enrolment notice)
  2. Driver’s licence and or Australian passport (if you have one)

Other Fees

Administration Fee (once off upon initial application) $110.00
Reactivation Fee $110.00
AML/CTF Course (full course if you’ve not done it before) $99.00
AML/CTF Refresher Course (required every two years) $49.50

* Please note that membership fees are fully refundable if your application for membership is declined excluding the administration fee (if applicable) which is not refundable. Otherwise membership and all other fees are not refundable once paid.

All fees are inclusive of GST.