Savings program leads to success

The Saver Plus financial wellbeing program has seen significant changes over the past couple of years. From transitioning to a virtual program, additional staff training, to updating program content, COVID-19 forced some changes for the better.

However it won’t stop there. Janet Liu, Head of Social Impact and Community ANZ says with a long-term plan to enhance the program further, there’s a lot to be excited about.

Saver Plus is still one of the only financial education programs in Australia to be delivered remotely and online.

“With more than 70 per cent of Saver Plus participants being single parents, virtual sessions delivered by Saver Plus Coordinators are much more convenient, family friendly and accessible,” Janet says.

“We were surprised by how enthusiastically participants embraced the transition to virtual delivery. Our initial research shows many time poor parents were actually purposefully searching for online financial education and support.”  

While the virtual transition happened because of the pandemic, it has opened up possibilities to delivery financial education in a different way. We are looking at innovative ways to make the program even more accessible and inclusive for participants in the future,” she says.

Recognised with the Team Champions Award at this month’s  Financial Inclusion Conference is confirmation Saver Plus is making a significant impact in the community.

“The Team Champions Award is wonderful recognition of the program’s achievements in innovation over the past two years. It also acknowledges how hard Saver Plus Coordinators across the country have worked to adapt and upskill themselves so they can continue to support participants remotely,” Janet says.

“I’m so grateful to be working with partner organisations who are willing try out new ideas.”

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ANZ is proud to partner with Brotherhood of St Laurence (BSL), The Smith Family and Berry Street to deliver Saver Plus, the world’s largest and longest running matched savings and financial education program developed by BSL and ANZ. The program is co-funded by ANZ and Department of Social Services.

Saver Plus started with just 50 participants in 2003 has enabled more than 50,000 lower income Australians to save more than $26 million for education costs, with ANZ matching $21 million.

Janet Liu is Head of Social Impact and Community at ANZ.