FCAWA Conference 2017 MoneyMinded Marie Andrews, ANZ

About MoneyMinded MoneyMinded is an adult financial education program developed by ANZ in 2003 that builds the financial skills, knowledge and confidence of lower income earners In Australia MoneyMinded is delivered in partnership with the following organisations: ANZ also provides free facilitator training and materials to the community sector (financial counsellors, community workers). There are over 6,000 accredited MoneyMinded facilitators currently using the program with their clients around Australia

About MoneyMinded Participants attend group workshops or receive personalised support on topics such as budgeting, managing credit, superannuation and more MoneyMinded is also available online at www.moneyminded.com.au

MoneyMinded for Saver Plus Saver Plus is Australia’s largest and longest running matched savings and financial education program. Saver Plus is for people on a lower income holding a Centrelink Health Care Card or Pensioner Concession Card Participants save for their education or their children’s education, with dollar-for-dollar matched savings from ANZ (up to $500) and financial literacy education provided through MoneyMinded Saver Plus is the result of a successful long-term partnership between ANZ and the Brotherhood of St Laurence. The program is delivered in 60 locations across Australia in partnership with Berry Street, The Benevolent Society, The Smith Family and three other local agencies The program is funded by ANZ and the Department of Social Services (DSS), with ANZ providing matched savings for participants

MoneyMinded for Saver Plus Over 3,900 people joined the program in 2016-17 MoneyMinded is key to Saver Plus – every participant completes MoneyMinded financial education training through either face-to-face workshops or online via moneyminded.com.au Saver Plus leads to positive behavioural change, increased levels of financial efficacy, and improved financial wellbeing and resilience. After completing the program: 87% of participants continue to save the same amount or more, and are better able to plan ahead 88% are more aware of where to get help with financial decision-making 93% have increased self-esteem. 84% of participants encourage children and family members to save

MoneyMinded for Saver Plus https://www.youtube.com/watch?v=c8nhuF8amx8

MoneyMinded Impact The impact of MoneyMinded is evaluated annually by RMIT 2016 report also included an in-depth study into the role of financial education in a family violence context Financial education can contribute to both the protection against, and recovery from, family violence Prevention – reduces financial vulnerability; empowers women; protects from economic abuse Post-crisis recovery – short-term guidance to meet immediate needs; long-term support to reach economic independence and financial wellbeing

MoneyMinded Impact As a result of the research ANZ is developing targeted MoneyMinded materials specifically for family violence services. The research found: Budgeting and goal setting were most relevant to clients Need more emphasis on debt ‘who can I contact’ section updated to include economic abuse Key benefits of MoneyMinded to participants were: Social support Legitimises experiences Builds self-efficacy, confidence Access to services & referrals (legal, financial, housing, food) Tools & resources (e.g. Budgeting) Raises awareness of consumer rights Reduces stress …Hope for the future

Hardship – ANZ Customer Connect Customer Connect is ANZ’s dedicated hardship team Work towards a mutually beneficial, sustainable arrangement to help the customer get back on track Hardship applications individually assessed Solutions based on individual circumstances can include: loan extensions to reduce repayments repayment deferrals or reduced repayments (capitalised into the loan balance) refinancing a personal loan Reducing/deferring credit card repayments Customers referred to MoneyMinded online Say: NOTE: Marie to talk to this slide.

Next Steps MoneyMinded family violence materials currently under development 2017 MoneyMinded Impact Report due for release in November focusing on the role of financial education in disability services

For More Information Contact Marie Andrews at Marie.Andrews@anz.com To enquire about MoneyMinded facilitator training or MoneyMinded more generally, email moneyminded@anz.com Visit www.moneyminded.com.au To enquire about SaverPlus – email saverplus@bsl.org.au, phone 1300 610 355 or go online at www.saverplus.org.au More information on the MoneyMinded Impact Report 2016 or other MoneyMinded research can be found at www.anz.com/about-us/corporate- sustainability/community/investing/moneyminded Note: the Saver Plus 1300 number is a central number which will direct people to their local Saver Plus coordinator.

Presented by Marie Andrews Thank you Presented by Marie Andrews