The University of Tasmania has honoured a $50,000 gift from customer-owned Bank of us, which made possible research to support financial literacy for people on the State's West Coast.
The vital gift allowed Tasmanian School of Business and Economics researchers to scope up the project and successfully apply for Tasmanian Community Fund backing to deliver the project.
"Our philanthropic partnerships are integral to the work we do, and we are incredibly grateful for the support from Bank of us," Dean and Head of School Mark Bowles said.
"Without this, it wouldn't have been possible to pursue the project and secure further funding, which would have been a great loss for Tasmanians on the West Coast."
Bank of us CEO Paul Ranson said supporting the program is a reflection of the bank's commitment to helping Tasmanians build strong financial futures.
"We're proud to help make this important project a reality, and we're excited to see what's possible when we work together to support young people and their families," Mr Ranson said.
The West Coast project is designed to address critical gaps in financial literacy for young people aged 8–19 and was created in close collaboration with the West Coast community.
Project lead Donovan Castelyn said it aimed to go beyond teaching financial concepts by empowering young people and their families, building resilience, and fostering long-term economic stability in the region.
"Fifty-one per cent of Tasmanians have indicated a low understanding of financial matters. This is particularly concentrated on the West Coast, which has significant social and economic impacts on the community," Mr Castelyn said.
"This program is for the West Coast, by the West Coast. It was co-designed with the community over a year, with a focus on partnering with schools, businesses and community groups to embed financial literacy into the fabric of the community."
"By reaching children as young as eight, we're planting the seeds for financial literacy that will carry into adulthood."
The program will see collaboration across the University and with local schools, libraries, businesses and sporting clubs to embed financial literacy into everyday learning and community activities.
It will also provide regular training and workshops for educators, community leaders and families to build financial capability across the whole community.
