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Advancing Equity | Financial Wellbeing Collective

The Financial Wellbeing Collective (FWC) partnered with Keystart, a state government home loan provider, to design and implement an innovative Financial Coaching program. The program aims to improve financial wellbeing and resilience among Keystart’s customers, acting as a transitional lender back to traditional market access.

Societal Value Created

  1. The program supported 670 clients over 2,000 coaching sessions since inception, achieving a 64% improvement in financial wellbeing and 57% improvement in financial satisfaction.
  2. It provides an early intervention approach, helping participants explore their relationship with money, recognize risks, set goals, and secure their financial future through active behavioural change.

Business Value Created

  1. Helps Keystart’s customers avoid negative outcomes like missed payments, poor credit records, and potential repossession by building financial literacy and resilience.
  2. Supports Keystart’s mission as a transitional lender by enabling customers to improve their financial capability and confidence to transition to traditional lenders.