Banks have teams ready to help in times of trouble
30 April 2021
The National Farmers’ Federation and Australian banks have agreed to hold a regular summit to discuss issues affecting farmers across Australia.
The first meeting was held this week, attended by NFF CEO Tony Mahar and ABA CEO Anna Bligh, along with representatives from banks and state and territory farming bodies.
NFF CEO Tony Mahar said farmers depended on a strong banking sector and the relationship between agriculture and lenders worked best when each other’s expectations and responsibilities were understood.
“Farmers have faced no shortage of challenges in the past five years, and at the heart of effectively meeting these challenges has been a farmer’s relationship with their bank.”, Mr Mahar said.
“Sustainable farms are productive and profitable farms which is the end goal for farmers and lenders alike”
NFF CEO Tony Mahar
ABA CEO Anna Bligh said the meeting was a vital forum to ensure that banks and farmers are working together on key challenges such as drought and climate change mitigation.
“Agriculture is a critical part of the Australian economy. Banks worked closely with the NFF through the drought and this ongoing dialogue will be crucial as the nation recovers from COVID-19″, Ms Bligh said.
The NFF and the ABA discussed their mutual interest in sustainability, climate change and a reduced emissions future, and animal welfare.
“Agriculture is a critical part of the Australian economy. Banks worked closely with the NFF through the drought and this ongoing dialogue will be crucial as the nation recovers from COVID-19″
ABA CEO Anna Bligh
As part of the Federal Government’s National Drought Forum, the NFF and its membership have been tasked by Agriculture & Drought Minister, David Littleproud to work with the ABA, accountants and financial advisors on ensuring farmers build resilience and are better prepared for future droughts.
“Sustainable farms are productive and profitable farms which is the end goal for farmers and lenders alike”, Mr Mahar said.
The meeting also discussed a nationally consistent farm debt mediation scheme.
Banks and farming organisations will meet again in October.
Latest news
Media Releases
Banks continue fight against scammers as new report shows drop in losses
Read more
29 April 2024
Banks are continuing to play their part to protect Australians from scams, as the industry welcomes a new report showing scam losses fell by 13 per cent last year. The Australian Banking Association acknowledges the release today of the 2023 Targeting Scams Report by the National Anti-Scam Centre. Whilst there was an 18.5 per… Read more »
Transcript
Anna Bligh Interview Sky News, discussing financial hardship and what banks can do to help
Read more
22 April 2024
Tom Connell Those people with a home loan who have had a fixed rate are getting a shock as they come off that fixed rate. Often as low as two percent and onto the new variable rate that can be as high as six or even seven percent. So how is that affecting people out… Read more »
Media Releases
Banks remind customers, ‘don’t tough it out on your own’
Read more
22 April 2024
Australians facing difficult financial decisions are being reminded to get in touch with their bank and get the support they need to keep repayments on track. The Australian Banking Association (ABA) is extending its ‘don’t tough it out on your own’ campaign which was launched last year, with a further round of advertisements to run… Read more »