The Introduction
The financial institution such as bank will conduct a credit assessment on you before making lending decisions.  When you applying for a loan, which can be a Home Loan, Car Loan or Credit Card. The process may involve background checks from various sources to determine you scores (which determine the healthiness of financial status of an individual)
One of the sources will be the Credit Bureau which keeps information in relation to your credit history

Role of Credit Bureau
The Credit Bureau collects credit information on borrowers from financial institutions (Note that the Credit Bureau not collect information on depositors) , refurnishes the credit information back to the financial institutions. The information provided in the Credit Bureau report will helps the financial institutions make informed lending decisions in more effective ways with consolidation of credit information

The Credit Bureau holds information on borrowers that obtained from financial institutions. Example, if you borrow money from financial institutions; usually the following information on you and your borrowings will be captured and kept:

–          Borrower particular such as name, national identity card number, address
–          Details of your borrowing such as account number, amount and outstanding amount for example

Finally, please DO NOT skip you monthly loan installments as the information will be feeds to all financial institutions by the Credit Bureau on you payments behavior which may affect your credit scores.