Banks join financial inclusion program
The major banks and Bank Australia have joined forces with a group of government, education and community sector organisations to release financial inclusion action plans, setting out the steps they will take to improve financial resilience for excluded groups.Good Shepherd Microfinance has developed a Financial Inclusion Action Plan program and is working with EY and the Centre for Social Impact to implement it. Delia Rickard, the deputy chair of the Australian Competition and Consumer Commission, is chairing an FIAP Advisory Group.Twelve organisations have signed up as "trailblazers", agreeing to establish programs that will "make a difference to people in Australia experiencing financial exclusion and hardship."Good Shepherd Microfinance chief executive Adam Mooney said in a statement that each organisation's program contained specific measurable actions the organisation would take to advance inclusion.The overall program has a particular focus on women and girls. The programs are being released today.Other trailblazers include the Queensland State Government, AnglicareSA, BaptistCare, Energy Australia, HESTA, Suncorp and Swinburne University.