Member Benefits
MFSA provides the following range of services on behalf of their Members:
- ongoing advocacy and industry-wide representation
- Research
- Industry Leadership
- Reputation Management
- Business Support, Information sharing and direction with regards to the industry
- Participation in industry forums
It is exceptionally difficult for smaller businesses to service these areas of expertise internally. It is cost and resource-intensive and may in certain cases be seen as self indulgence. MFSA has positioned itself to legitimately manage the above on behalf of the MFSA Members. This approach ensures that benefits of scale can be achieved and that one single and legitimate voice is heard at the appropriate and required forums and instances. Members are thus protected from victimisation and share in the collective benefit generated through the Association by all its members.
Through membership of MFSA our members are automatically affiliated with:
- CREDIT OMBUD and CREDIT INFORMATION OMBUD CO (CIO)
- NATIONAL DEBT MEDIATION ASSOCIATION NDMA
- NATIONAL LOANS REGISTER / CREDIT PROVIDERS ASSOCIATION NLR/CPA
which ensures compliance requirements with regards to payments, alternative dispute resolution, combating over indebtedness and avoiding reckless lending – as required by legislation through both the National Payment System Act (Act 78 of 1998) and the National Credit Act (Act 34 of 2005).
By virtue of membership of the MFSA, members also subscribe support and commit to the support of the Credit Industry Code of Conduct to Combat Over-Indebtedness in terms of S 48 (1) (b) Of the National Credit Act (NCA).
