Finding new members a sign of the times

A non-profit organisation, the FSF has traditionally represented a broad cross section of non-bank lending organisations such as Prospa, Avanti Finance and the finance arms of motor vehicle brands BMW, Nissan, Mercedes-Benz, Toyota, and Honda.

FSF executive director Lyn McMorran says it is now open to broker personal finance companies which have a Financial Advice Provider Licence and operate in the responsible loan sphere.

“Brokers and financial advisers are an integral part of the responsible lending system in ensuring good outcomes for consumers and businesses from the outset,” she says.

Newmarket-based Loansmart is the first broker company to be accepted as an associate member of the FSF. Managing director Murray Greig says he is happy to be alongside an organisation that promotes fair and ethical lending.