As one of Australia’s largest providers of social services and programs, The Salvation Army provides assistance to the most marginalised and excluded individuals in our society.
Supporting that mission are many thousands of employees and volunteers, predominantly women, who are committed to social justice and the protection of the rights of disadvantaged Australians.
But those employees and volunteers are facing the same crisis as their clients. Supporting the financial wellbeing of its people during COVD-19 has never been more important for The Salvation Army.
As part of its Financial Inclusion Action Plan (FIAP), The Salvation Army is committed to examining the financial inclusion needs of its female employees. That is a field where ANZ has recognised expertise.
Last year ANZ supported The Salvation Army to develop and conduct the online Survey of Financial Inclusion and Access (SoFIA) to measure the financial inclusion, capability and wellbeing of female Salvation Army staff, officers and volunteers.
The survey was adapted from ANZ’s 2017 Survey of Adult Financial Wellbeing – the sixth in a series of comprehensive surveys the bank has conducted since 2002 on financial knowledge, attitudes and behaviours.
The Salvation Army was able to draw on ANZ expertise to analyse the financial wellbeing of more than 700 female staff, officers and volunteers who responded to the survey. Compared with ANZ’s survey of the general population, the SoFIA results showed the majority of Salvation Army respondents had higher financial wellbeing, were more likely to have savings and their levels of debt were slightly lower than the general population.