|HISTORY OF THE CREDIT PROVIDERS ASSOCIATION
Since the mid-80’s there had been a growing realisation among many of the larger retailers who extended credit facilities to their customers, that there existed an enormous pool of consumer credit information which, if shared, could be of considerable and beneficial use in making responsible and appropriate credit granting decisions.
After a series of working meetings towards the end of 1988 and early 1989, involving major retailing groups, Information Trust Corporation (now Trans Union) and Kreditinform (now Experian), a decision was taken that such consumer information sharing would be beneficial to consumers, credit grantors and to the economy of South Africa, providing it was developed under controlled conditions to ensure security and privacy and processed via bona-fide information bureaux having resources, expertise and integrity.
Therefore, in April 1989, 11 founder members formed and constituted the Consumer Credit Association (CCA) as an Association not for gain.
Since that time the CCA has expanded its activities across all aspects of consumer credit granting and related activities e.g. legislation lobbying and provision of advice to members on consumer credit matters.
THE FOUNDER MEMBERS WERE:
Information Trust Corporation
On 21 June 2007 the name of the CCA was changed to CREDIT PROVIDERS ASSOCIATION (CPA). The Association rapidly expanded to include not only consumer credit granting organizations but also those organizations engaging in related activities on which regular consumer payments are processed. These organizations represent industries including Insurance and Telecoms.
The introduction of the National Credit Act also highlighted the importance of accurate up to date credit information being maintained at all times. The CPA reassessed its core function and strategic intent and channeled its resources into the monitoring and improvement of consumer credit data submitted by its members to the Associate Member Bureaux. This focus has resulted in the number of records rejected by Credit Bureaux significantly decreasing whilst the overall quality and accuracy of credit data held by bureaux increasing appreciably.
The CPA will continue to focus on its core mission, which is to ensure the highest standard of consumer credit data is submitted by its members, maintained by the Credit Bureaux and accessed by strictly authorized parties within the context of consumer credit legislation and the CPA constitution.