Australian organisations band together to support financial inclusion

Friday 27 May 2016

Three male students walking down john street with ATC in background.

The Financial Inclusion Action Plan program is supported by the Australian Government, the UNSW Centre for Social Impact and Ernst & Young.

In summary

  • 11 organisations join Financial Inclusion Action Plan program
  • Swinburne the only education institution 
  • Each organisation will develop an Action Plan by October 2016

Swinburne is the first education institution to join the Financial Inclusion Action Plan program, established by Good Shepherd Microfinance.

The program was developed to create a national network of organisations, across sectors, peak bodies and governments, which are actively committed to financial inclusion in Australia.

 “Swinburne is proud to be the first education institution to develop a Financial Inclusion Action Plan. This is a wonderful demonstration of our university’s commitment to financial inclusion,” Swinburne’s Vice-Chancellor, Professor Linda Kristjanson, says.

“By partnering with Good Shepherd Microfinance, Swinburne is helping to alleviate the financial hardship that our students may be experiencing.

“This is an opportunity for our university to work in collaboration with other organisations to help fund support for students while they are studying.”

The program is the first of its kind and will support eleven participating organisations to develop their own Action Plans in order to promote financial inclusion in Australia.

Swinburne is the only university selected to participate in the pilot. Other participants are:

  • Anglicare SA
  • ANZ Australia
  • Bank Australia
  • BaptistCare
  • Commonwealth Bank
  • Energy Australia
  • NAB
  • Queensland State Government
  • Suncorp Group
  • Swinburne University of Technology
  • Westpac

The Financial Inclusion Action Plan program is supported by the Australian Government, the UNSW Centre for Social Impact and Ernst & Young.

Each participating organisation will develop and launch a Financial Inclusion Action Plan by October 2016.

 “We all want to be able to access and use financial services that are appropriate to our circumstances and improve our lives. Yet, there are three million people, or one in six adults, who are financially excluded in Australia,” Adam Mooney, CEO of Good Shepherd Microfinance, says.

“The FIAP program invites organisations to turn good intentions into action that works by collaborating across sectors to improve financial inclusion for everyone,” he says.