Guide to Giving
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Politics

Vic Budget Supports Microfinance Program


Thursday, 7th May 2015 at 11:01 am
Xavier Smerdon, Journalist
The Victorian Budget has continued its investment in Good Shepherd Microfinance, one of Australia’s largest microfinance organisations, and its National Australia Bank ‘Good Money’ program, with a $7.2 million commitment over four years.

Thursday, 7th May 2015
at 11:01 am
Xavier Smerdon, Journalist


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Vic Budget Supports Microfinance Program
Thursday, 7th May 2015 at 11:01 am

The Victorian Budget has continued its investment in Good Shepherd Microfinance, one of Australia’s largest microfinance organisations, and its National Australia Bank ‘Good Money’ program, with a $7.2 million commitment over four years.

The funding announcement was made in this week’s Victorian Budget.

“The Victorian Government played a leading role in establishing Good Money and is leading the nation in addressing financial exclusion,” CEO of Good Shepherd Microfinance, Adam Mooney said.

“Good Money offers a lot more than loans. Every client has a financial conversation which can help break the cycle of disadvantage – 92 per cent of clients felt they were better able to budget after speaking with Good Money.

“The Victorian Government funding means Good Money will continue to provide inclusive, fair and suitable financial services for Victorians.”

Good Money provides financial services for people on low incomes, with 1,600 people accessing no interest and low interest loans for essential household goods and services in the last three years.

Corinne Proske, Head of Community Finance and Development at NAB, said that Good Money is an example of how new approaches to community finance can help tackle financial exclusion.

“We need to offer people on low incomes a viable alternative to high cost payday lenders. We know that Good Money is doing just this with more than half of its customers saying that they do not intend to use a fringe lender again,” Proske said.

“This model, with the Government’s support, is helping us explore innovative alternatives to address the issue of financial exclusion.”

Read more on the Victorian Budget HERE.


Xavier Smerdon  |  Journalist |  @XavierSmerdon

Xavier Smerdon is a journalist specialising in the Not for Profit sector. He writes breaking and investigative news articles.

Guide to Giving

FEATURED SUPPLIERS


Yes we’re lawyers, but we do a lot more....

Moores

Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Public Interest / Private Interest – A Fundamental Distinction

David Crosbie

Thursday, 14th September 2017 at 8:46 am

Boosting Philanthropy For A Stronger Australia

Wendy Williams

Monday, 11th September 2017 at 5:16 pm

Students With a Disability Face Cuts in Five States and Territories Next Year

Luke Michael

Friday, 8th September 2017 at 10:08 am

POPULAR

Moves to Stop Volunteering at Overseas Orphanages

Luke Michael

Wednesday, 13th September 2017 at 1:54 pm

Future Uncertain for Disability Organisations Following Funding Cuts

Wendy Williams

Tuesday, 19th September 2017 at 8:29 am

Majority of NFPs Are Not Believed to be Well-Run, According to New Survey

Luke Michael

Tuesday, 12th September 2017 at 4:14 pm

More Australians Are Giving Time Not Money

Wendy Williams

Monday, 11th September 2017 at 5:07 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


Guide to Giving
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!