11 May 2023
Australia’s financial counselling services will receive a $7.75 million boost following a donation from a group of organisations from across the banking, finance, insurance, energy, telecommunications and online gambling sectors.
The donation will help the Financial Counselling Foundation deliver a series of important initiatives to support victims of family violence, those at risk of homelessness and First Nations communities.
“They are making a real, positive impact on the lives of some of society’s most vulnerable people.”ABA CEO, Anna Bligh
Australian Banking Association Chief Executive Officer Anna Bligh, 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,” Ms Bligh said.
“They are making a real, positive impact on the lives of some of society’s most vulnerable people.”
Financial Counselling Foundation Chairperson, George Brouwer, welcomed the donation and said it 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,” Mr 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.”
A portion of the donation will be used to support the extension of 10 family violence financial counsellors for a further two years. These positions, overseen by the Family Violence Financial Counselling Agency, are located nationally in predominantly community legal centres to support women who have experienced family violence.
The donation will also allow the Foundation to look at new initiatives. Mr Brouwer said.
“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.
Organisations that are contributing to the donation:
Allianz Australia Insurance Limited
Aussie Broadband Limited
Australia and New Zealand Banking Group Limited
Bank of Queensland
Bendigo and Adelaide Bank Group
Commonwealth Bank of Australia
Credit Corp Group Limited
Macquarie Bank Limited
MyState Bank Limited
National Australia Bank
The Hollard Insurance Company
TPG Telecom Limited
Westpac Banking Corporation
Australian banks today launched a new digital platform that will facilitate the quick reporting of fraudulent payments en route or transferred to another bank.
“Speed is the essence when it comes to getting your money back from a scammer. Even if you’re not sure, even if you just suspect something’s not right, ring your bank as fast as you possibly can.”
The nation’s shift to digital banking is gathering pace, with the number of people leaving home without their wallet or cards, relying on their phone or another device instead, doubling in three years. The rapid changes are captured in a new ABA interactive Spend the Day site.