Saver Plus, the world’s largest and longest-running financial education and matched savings program today announced its national rollout, expanding from its current 60 sites.
Now offered Australia-wide, Saver Plus can help more people hit their savings goals, develop life-long savings habits, and receive up to $500 in matched savings from ANZ to assist with education costs.
Since its initial launch in 2003, Saver Plus has:
- Helped more than 57,000 Australians improve their financial wellbeing
- Seen more than $28 million saved by participants
- ANZ has matched and paid more than $23 million to participants to help pay for education related costs
Established by the Brotherhood of St. Laurence and ANZ, Saver Plus is delivered in partnership with The Smith Family and Berry Street. Funding for the program is provided by ANZ and the Australian Government Department of Social Services.
Over the last twenty years, Saver Plus has traditionally operated to help people improve their financial wellbeing through in-person education sessions.
As part of the national roll-out, the free program will now be accessible through a new and innovative fully online model – designed to better service participants across the country.
The online expansion will benefit participants through improved accessibility, enhanced digital capability, and engaging content to motivate them through their savings journey.
Through ANZ’s flagship MoneyMinded program, Saver Plus provides engaging financial education to establish and encourage ongoing savings habits. Saver Plus participants on average increased their financial wellbeing score by 77 per cent, to 64, higher than the average Australian Financial Wellbeing score of 59.
Brotherhood of St. Laurence Executive Director Travers McLeod said, expanding Saver Plus will help many Australians reach their financial goals.
“We’re proud of the terrific outcomes we’ve seen from our Saver Plus participants. Expanding the program nationally allows more people to reap the crucial benefits of improved financial wellbeing and life-long savings habits,” he said.
ANZ Chief Executive Officer Shayne Elliott said: “The opportunity to support the extension of the Saver Plus program nationally is a valuable step forward in supporting Australians to reach their savings goals and build lasting savings habits.”
“A lot has changed since this partnership started, but the shared goal to help lower-income Australians build financial skills and develop life-long positive financial habits remains. We’re excited to work with broader communities to continue to support the financial wellbeing of Australians for many years to come.”
Smith Family Chief Executive Officer Doug Taylor said: “The Smith Family is proud to have been a partner in delivering Saver Plus for 18 years. Saver Plus is an essential part of our suite of programs proven to help families experiencing disadvantage gain financial literacy skills and support their children’s education.”
“We’re particularly excited to be taking this next step with our partners, ANZ, Brotherhood of St Laurence and Berry Street, and the Commonwealth Government, which will see the program be delivered online, allowing more families experiencing financial disadvantage to develop and maintain a savings habit.”
Berry Street Chief Executive Officer Michael Perusco said: “Berry Street is honoured to be a partner in the delivery of a program which has supported disadvantaged Australians to develop and maintain a savings habit for more than 20 years.”
“Saver Plus has demonstrated an ability to innovate and adapt, which has contributed to the remarkable achievement of helping more than 50,000 lower income Australians build a savings habit and enhance their money management skills while saving towards their or their family’s education costs.”
