The categories of membership for loan writers are:

Student

This category is granted to those who

• Are not yet writing loans &
• Have completed the MFAA Initial Compliance Pack &
• Are enrolled in the Diploma FNS50315 / FNS50311
• Associate Credit Adviser (ACA)
• The ACA category is only available to applicants who have less than two years’ loan writing experience** and have completed:
• MFAA Initial Compliance Pack
• Diploma FNS50315 / FNS50311 &
• one of the MFAA Membership Case Studies (either Commercial or Residential, depending on your business focus).*

The MFAA Membership Case Study has been provided to the MFAA Preferred Vendors offering the Diploma FNS50504 / FNS50311 qualifications. Applicants completing a diploma qualification through an MFAA Preferred Vendor complete the MFAA Membership Case Study as part of the diploma process.

*MFAA applicants who complete a diploma qualification through an alternate Registered Training Organisation (RTO) who is not an MFAA Preferred Vendor will need to complete one of the MFAA Membership Case Studies directly through MFAA.

**MFAA applicants with less than two years’ loan writing experience who are mentored by an MFAA Certified Mentor™ or through an equivalent programme by an MFAA aggregator/broking group recognised as such by the MFAA, will have up to 12 months from the date of joining the MFAA to complete the diploma requirement and are eligible for MFAA Membership having completed the Certificate IV FNS40815 /FNS40811.

A Continuing Professional Development (CPD) requirement for each annual membership period applies to the Associate Credit Adviser category.

Credit Adviser (CA)

This category is granted to those who have at least two years’ loan writing experience & who have completed

• MFAA Initial Compliance Pack &
• Diploma FNS50315 / FNS50311 &
• one of the MFAA Membership Case Studies (either Commercial or Residential, depending on your business focus).*

* The MFAA Membership Case Study has been provided to the MFAA Preferred Vendors offering the Diploma FNS50504 / FNS50311 qualifications. Applicants completing a diploma qualification through an MFAA Preferred Vendor complete the MFAA Membership Case Study as part of the diploma process.

MFAA applicants who complete a diploma qualification through an alternate Registered Training Organisation (RTO) who is not an MFAA Preferred Vendor will need to complete one of the MFAA Membership Case Studies directly through MFAA.

A Continuing Professional Development (CPD) requirement for each annual membership period applies to the Credit Adviser category.

Certified Credit Adviser (CCA)

This category is not currently available, as some components are still being finalised. Once it is open, this status will be granted only to existing members who

• Have at least five years’ loan writing experience &
• Currently hold a Diploma FNS50315 /FNS50311 &
• Have completed an MFAA certification process.

A Continuing Professional Development (CPD) requirement for each annual membership period applies to the Certified Credit Adviser category.

Requirements for Individual Applicants

• A copy of your current COSL or External Dispute Resolution (EDR) Scheme membership certificate
• A copy of your Professional Indemnity (PI) Insurance certificate
• A certified copy of your National Criminal History Record Check
• A certified copy of an Identification Document
• A copy of your Credit Report
• A copy of your current Resume / Curriculum Vitae (CV)
• Requirements for Business Applicants
• A copy of the current COSL or External Dispute Resolution (EDR) Scheme membership certificate
• A copy of the Professional Indemnity (PI) Insurance certificate
• A certified copy of the National Criminal History Record Check for each director, partner or principal directly engaged in the business
• A certified copy of an Identification Document for each director, partner or principal directly engaged in the business
• A copy of the Credit Report for each director, partner or principal directly engaged in the business
• A copy of the current Resume / Curriculum Vitae (CV) for each director, partner or principal directly engaged in the business

Membership fees

Membership fees are payable annually in advance and a renewal document will be emailed approximately one month prior to the anniversary of the commencement date of your membership. A one-off application fee of $105 applies for all new members and covers the cost of processing new applications. An administration fee of $15 also applies where the applicant has authorised MFAA to obtain a credit check on their behalf.