Important Information

Disclosure Statement About Our Services.

Credia Limited (FSP 1005124, trading as Lenny) (“we”, “us”, “our”) is a financial advice provider. We hold a Financial Advice Provider Licence issued by the Financial Markets Authority to provide financial advice services. 

Getting in touch 

Email: domore@lenny.co.nz 
Phone: 0800 757 747 
Address: Suite 10, 160 Broadway, Newmarket, Auckland, 1023

Nature and Scope of Our Financial Advice Services 

We provide financial advice services through our digital advice platform on unsecured personal loans between $3,000 and $100,000 from the lenders listed below. 

Our digital advice platform first identifies lenders who we consider will be willing to lend to you, subject to their approval (availability) and then selects lenders that are most appropriate for you (selection). We submit applications to up to 3 lenders on our behalf and then present the loan offers for you to select from. 

In addition, if we think your application is unlikely to be accepted, or if you request, one of our lending advisers can advise you on alternate loan structures such as debt consolidation or adding security to improve your chance of a successful outcome.   

Loan availability 

We take into account key matters relating to you and assess which lenders are willing to lend to you based on those matters. The matters include how much you want to borrow and how long for, what you want to do with the loan (based on what you tell us), your credit history, your age, your income, outgoings (expenses), assets & liabilities, your employment status, and your residency status (e.g. NZ citizen, permanent resident, resident visa holder). 

Loan selection 

We select the lenders (up to 3) that we think are most appropriate for you based on the terms of the loan including interest rate. We do not assess affordability. Lenders do that assessment based on the information you provide. 

We provide additional, non-advice, services including submitting applications to lenders you select and assisting you with the application process including assisting you with the purchase of optional loan protection insurance.

We do not provide advice in relation to: 

  • Credit related insurance such as Loan Protection Insurance or Lender Waiver Insurance
  • Top ups for Personal Loans 
  • Business Loans 

Fees & Commissions 

We charge a service fee to clients for new and refinanced personal loans (whether we provide financial advice or not). You do not have to pay the service fee if you are a returning customer within 12 months of your previous loan being obtained through Lenny. 

This fee can be added to the loan amount and will be subject to interest charges or alternately you can elect to pay the fee separately of the loan at time of loan disbursement. 

No fee is payable if you do not proceed with the personal loan or you cancel within the cooling off period. 

Lenny will receive a commission from a lender if you take out a personal loan. The commission varies depending on the lender and type of loan and is calculated as a fixed percentage of the loan amount advanced. 

Prioritising your interests over our own 

Prioritising your interests over our own is our imperative. The Lenny platform follow a process that ensures financial advice we provide only takes into account your interests. 

In addition, we obtain yearly independent audits of our compliance programme. 

Our duties when giving advice 

Lenny has duties under the Financial Markets Conduct Act 2013 related to our advice. That includes duties (among others) to, in summary: 

  • give priority to your interests by taking all reasonable steps to make sure our advice is not materially influenced by our own interests 
  • exercise appropriate care, diligence, and skill in providing you with advice 
  • meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice) 
  • meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should and give you suitable advice). 

Making a Complaint & Resolving Disputes 

Lenny is committed to providing a consistently good standard of advice. If you feel we have not lived up to your expectations or are not satisfied with any aspect of our service, please let us know in the following ways: 

In writing: 

Complaints Manager 
Credia Limited 
Suite 10, 160 Broadway, Newmarket, Auckland, 1023

Phone: 0800 757 747 
Email: complaints@Lenny.co.nz 

When we receive a complaint, we will consider it under our following internal complaints process that includes the following steps: 

  • Within five working days, we will provide a written acknowledgement of your complaint and give you the details of who is handling your complaint and how to contact them. 
  • Within ten working days of receiving your complaint, we will write to you with our final response. Where a claim relates to more complex matters we may need to extend that timeframe by a reasonable time, which we will do by writing to you within that ten working days of receiving your complaint. 

If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our approved dispute resolution scheme Financial Disputes Resolution Service (FDRS). FDRS provides a free, independent, dispute resolution service that may help investigate or resolve your complaint. You can contact FDRS as follows: 

Financial Disputes Resolution Service 
PO Box 2272, Wellington 6140 
0508 337 337 
enquiries@fdrs.org.nz 

 

Version: 3.0 October 2024