Credit Information Corporation

The Credit Information Corporation (CIC) is a government-owned and controlled corporation (GOCC) that operates a credit information system in the Philippines. It was established in 2008 through the Credit Information System Act (CISA) to develop a centralized and comprehensive system for collecting and disseminating accurate and fair information related to credit and credit-related activities of all entities participating in the financial system.

Credit information is collected from various sources, including banks, financial institutions, insurance companies, financing companies, credit cooperatives, utility companies, and other businesses that extend loans. The CIC compiles this information to help creditors assess the creditworthiness of borrowers.

The credit information system is designed to directly address the need for reliable credit data on borrowers. It aims to significantly improve the availability of credit—particularly for micro, small, and medium enterprises (MSMEs)—make credit more cost-effective, and reduce reliance on collateral to secure credit facilities. An efficient credit information system also enables financial institutions to lower overall credit risk, contributing to a healthier and more stable financial system.

By law, credit information must be provided to all participants at minimal cost. The CIC is also mandated to ensure the protection of consumer rights and to uphold fair competition in the industry at all times.