Community & Purpose
Savings program leads to success
It’s been a big couple of years for the long-standing Saver Plus program with a move to virtual training and a financial inclusion award.
Back to school with Saver Plus
31 Jan 2023
“Over many years, evaluation of Saver Plus has shown the program utilises the combined power of goals, incentives and personal support to support lower-income people to build savings behaviour” Kath Bray, Managing Director Retail Banking at ANZ
Kylie and her son Shaun - participants of the Saver Plus program.
Many Australians put their ‘out of office’ on come summer holidays. Families relax by the beach, connect with old friends, watch the cricket, or go camping by the river.
But for many families, the end of that summer fun can come with a shock: back-to-school costs for children.
ANZ’s Saver Plus is helping families ease their financial anxiety when it comes to back-to-school costs through Saver Plus’s annual ‘Back to School’ campaign.
Eligible participants that complete the ten-month program learn invaluable knowledge and have their savings matched (up to $500 AUD) by ANZ for education-related expenses.
Kylie, a past participant of the Saver Plus program, first heard about the program through her son’s school newsletter.
“[I thought it], would be a great opportunity to learn more about budgeting, while saving for my son’s laptop for school,” she said.
While participating in the program Kylie learnt valuable tips on saving and how ‘little things’ purchased during a weekly grocery shop can add up.
“When I now go grocery shopping, I try not to buy the little bags of lollies,” she said. “These little extras really do add up. For somebody who doesn’t have any idea about saving and budgeting the program was really insightful and valuable.”
Kylie completed the program in 2021 and has not looked back.
Saver Plus celebrates 20 years of impact
Saver Plus is the world's largest and longest-running financial education and matched savings program that has helped more than 55,000 participants to collectively save more than $27 million to date.
Developed by ANZ and the Brotherhood of St Laurence in 2003. Saver Plus is delivered in partnership with Berry Street and The Smith Family. The program is funded by ANZ and the Australian Government Department of Social Services. This ten-month program uses the combined power of goal setting, incentives, and personal support to assist participants to reach their savings goals.
Eligible participants who complete the program have their savings matched (up to $500) by ANZ for education-related expenses for themselves or their children.
See the impact Saver Plus has made over the years in the numbers below:
- 85 per cent of our past participants agree that since doing Saver Plus, they are better prepared to manage changes such as cost of living pressures.
- 87 per cent of participants keep saving the same amount or more, three to seven years after completing Saver Plus.
- 59 per cent of participants say their digital literacy has improved (and 87 per cent of jobs in Australia need digital skills).
Saver Plus is still one of the only financial education programs in Australia to be delivered remotely and online.
“Over many years, evaluation of Saver Plus has shown the program utilises the combined power of goals, incentives and personal support to support lower-income people to build savings behaviour,” said Kath Bray, Managing Director Retail Banking at ANZ.
“For many participants the program is literally life changing. We’re proud to have reached such a significant milestone of the program – 20 years of delivery – and thank our partners for their hard work and dedication”,
Since completing the program Kylie now teaches her three children the art of financial literacy and how important it is in everyday life.
“My son is very good with money and budgeting,” she said. “I think he has seen what it means to grow up without that much money, so he is definitely more conscious of it.
“Everybody can benefit from this program.”
If you, a family member, or a friend are interested in the program, you can register here. Eligibility criteria applies.
Brianne Keogh (she/her) Social Impact Manager Communications and Corporate Affairs, ESG team at ANZ
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