The Saver Plus partnership between ANZ, the Brotherhood of St Laurence (BSL), Berry Street (BS), The Smith Family (TSF), and the Australian Government aims to assist low-income Australians develop long-term savings habits and become more financially literate. Through this matched savings and financial education program, participants save for education expenses and receive matched funds from ANZ upon completing the program.
Societal Value Created
- Over 60,000 participants have saved more than $29 million and received over $24 million in matched funds from ANZ since 2003.
- Evaluation found 87% of participants continue to save at the same or higher level 3-7 years after completing the program, with their average financial wellbeing score increasing from 36 to 64 out of 100.
Business Value Created
- Enhances ANZ’s brand and reputation as the leading Australian bank for financial wellbeing, aligning with its purpose and strategy.
- Attracts and retains talent by demonstrating ANZ’s commitment to its values and providing opportunities for staff involvement.
- Provides valuable insights into customer behaviour and financial decision-making, informing the development of other ANZ products and services.
https://www.anz.com.au/about-us/esg/financial-wellbeing/saver-plus/