ANZ has welcomed a $100,000 funding boost from the Federal Government to support the continued delivery of its long-running financial education initiative, MoneyBusiness, delivered by the bank's community partner, Indigenous Consumer Assistance Network (ICAN).
The contribution will join ANZ's own funding of $200,000, bringing the total cash investment to $300,000. In addition, ANZ will also contribute to the program infrastructure and resources to expand the program reach.
The funding will enable ICAN to deliver more tailored financial education workshops, tools, and support to First Nations communities across Australia.
ANZ Head of Social Impact and Community, Janet Liu, said the funding highlights the importance of culturally appropriate financial education.
"MoneyBusiness has been a trusted program for nearly two decades, helping First Nations Australians strengthen their financial wellbeing through practical, community-led support. This funding will allow us to reach more communities, deliver more workshops, and continue working alongside ICAN to ensure the program reflects the needs and aspirations of participants," Ms Liu said.
ICAN CEO Aaron Davis said: "MoneyBusiness provides foundational education and resources to build meaningful financial capability skills in some of Australia's most socio-economically disadvantaged communities. We're proud to deliver this program in partnership with the Federal Government and ANZ, ensuring that we're reaching even more communities and, in turn, empowering them."
Developed in partnership with the Australian Government and community organisations, MoneyBusiness has reached more than 99,800 individuals since its launch in 2005. The program was developed to build the money management skills and confidence of First Nations communities, and covers essential topics such as budgeting, saving, managing money for family needs, and understanding financial products.
Data collected from a Coach Training feedback survey about the program last year and analysed by independent third party Prescience Research revealed 91.7% of attendees agreed MoneyBusiness had given them the skills to think about and/or better manage money day-to-day, with 94.6% agreeing it had provided them with the skills to think about and/or help improve a financial situation or plan for the future.
ANZ remains committed to supporting First Nations financial inclusion and wellbeing. The MoneyBusiness program plays one part in ANZ's broader First Nations Strategy, 'Fuelling the Fire', which aims to drive meaningful progress toward economic self-determination.
About MoneyBusiness: MoneyBusiness is a flexible education program for adults designed to build the money management skills, knowledge and confidence of Aboriginal and Torres Strait Islander people and develop a stronger savings culture. ANZ owns and developed MoneyBusiness in partnership with the Australian Government in 2005. The program is delivered in partnership with ICAN and funded/supported by the Australian Government Department of Social Services. MoneyBusiness does not directly promote ANZ products and provides unbiased consumer education.
About ICAN: The Indigenous Consumer Assistance Network Ltd (ICAN) is a national organisation dedicated to empowering Indigenous consumers through free, independent and confidential services. ICAN provides consumer education, financial counselling, and advocacy to address consumer disadvantage, particularly in regional and remote communities.
