Saver Plus lifts financial literacy 19 February 2015 4:39PM Shereel Patel ANZ said yesterday that its matched savings program was "the world's longest running and largest of its kind in the world," supporting almost 15,000 people to save more than A$13.5 million.The program requires people to agree to save up to $500 over ten months. If the participant is able to achieve that, ANZ will match the amount. The research shows that participants have saved $13.5 million, with the ANZ adding more than $10 million.The program also involves four financial education workshops covering planning and budgeting, saving and spending, everyday banking, and planning for the future. Participants have access to an adviser from either the bank or a charity.ANZ based its claims of success on a report by the charities Brotherhood of St Laurence, the Smith Family, the Benevolent Society and the Berry Street organisation. ANZ said their report shows not only has Saver Plus helped families save, but the program has had wider social and economic benefits.The report shows that 82 per cent have increased their social networks, 52 per cent have continued to invest in education, 48 per cent have now reduced their reliance on government benefits and 27 per cent have taken out insurance policies.It found 78 per cent of participants agreed that the product purchased with the matched savings "was beneficial for their own or their child's education experience."Prior to undertaking the Saver Plus program, only ten per cent of those who completed the program saved a set amount on a regular basis, the study found.After Saver Plus, 61 per cent saved a set amount on a regular basis while 88 per cent of participants reported they were better able to plan ahead.More than 23,000 people save under the program; 86 per cent of whom are women. More than 500 ANZ branches have made referrals.