A $7.75 million boost will be used to deliver a series of initiatives for some of society's most vulnerable people
CBA, Westpac, ANZ, NAB, Liberty Financial, Pepper Money, Macquarie Bank, Suncorp Group (including Suncorp Bank), Bendigo and Adelaide Bank, and Bank of Queensland have joined a cross-industry initiative to provide a one-off $7.75 million boost for Australia’s financial counselling services.
The donation, from the group of organisations across the banking, finance, insurance, energy, telecommunications, and online gambling sectors, will aid the Financial Counselling Foundation in delivering a series of initiatives to support victims of family violence, those at risk of homelessness, and First Nations communities.
Anna Bligh (pictured above left), Australian Banking Association CEO, speaking on behalf of the contributors, said the funding will provide significant assistance.
“The important work carried out by the Financial Counselling Foundation, and the groups they have determined to receive these grants, is to be highly commended,” Bligh said. “They are making a real, positive impact on the lives of some of society’s most vulnerable people.”
George Brouwer (pictured above right), Financial Counselling Foundation chairperson, said the donation will help support a series of important initiatives.
“The $7.75 million will enable the foundation to provide additional support to existing grants that are expiring and to implement new projects identified as worthy through our priority assessment and grants-based process,” Brouwer said. “Our current funding priorities include projects to support victims of family violence, tenants at risk of homelessness, First Nations communities and people in prison.”
Some of the funds will be used to support the extension of 10 family violence financial counsellors for a further two years. The counsellors, overseen by the Family Violence Financial Counselling Agency, are predominantly assigned to community legal centres nationally to support women who have experienced family violence.
Brouwer said the donation will enable the foundation to look at new initiatives.
“As a result of the contribution, the Financial Counselling Foundation can consider the possibility of a national initiative, in response to research completed by Thriving Communities Partnership, to fund financial counsellors to work within the prison environment and with different cohorts,” he said.
Other organisations contributing to the donation include AGL, Alinta Energy, Allianz, Aussie Broadband, Betfair, bet365, Credit Corp Group, EnergyAustralia, Entain, IAG, Latitude Financial, MyState Bank, Optus, Origin Energy, Pointsbet, QBE, Red Energy, Simply Energy, Sportsbet, Telstra, The Hollard Insurance Company, Toyota Finance, TPG Telecom, and Unibet.
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