Building a Strategic Approach to Community Investment

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Marylou West
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1 Building a Strategic Approach to Community Investment Michelle Commandeur Senior Manager, Corporate Sustainability & Financial Inclusion LBG Members Plenary 17 November 2015

Recapping ANZ s involvement in LBG ANZ was the first Australian company to receive assurance for reporting under LBG methodology (2005 as a member of the UK group) Initially, we had challenges with

2 Recapping ANZ s involvement in LBG ANZ was the first Australian company to receive assurance for reporting under LBG methodology (2005 as a member of the UK group) Initially, we had challenges with data capture in a complex business (Australia, NZ, Asia & Pacific) LBG enabled us to focus our investment under strategic CSD themes: Financial Inclusion & Capability Diversity & Inclusion Sustainable Development Annual materiality reviews have confirmed the importance of these themes for our business and our stakeholders Continued investment in Financial Inclusion & Capability has resulted in long term impact, with demonstrated evidence that has enabled us to build scale and expand to new regions 2

3 Overview of ANZ s Community investment Year Total community investment (excluding foregone revenue) Financial Inclusion & Capability Volunteer hours Leverage 2005 $8.3m $2.4m 32k $3.4m 2006 $13.9m $4.7m 50k $5.1m 2007 $17.8m $4.7m 73k $4.8m 2008 $18.9m $4.5m 79k $7.3m 2009 $22.2m $4.4m 92k $17m 2010 $15.8m $4.6m 90k $11.2m 2011 $15.9m $4.6m 92k $6.5m 2012 $14.9m $4.5m 87k $6.5m 2013 $15.1m $4.8m 89k $6m 2014 $17.6m $4.6m 101k $6m 2015 $18.5m $4.1m 108k $6m TOTALS $178.9m $47.5m (27%) 893k $79.6m 3

4 A decade of impact Over 27,000 Saver Plus was developed by ANZ and the Brotherhood of St Laurence in 2003 The program assists people to build a savings habit and improve their financial skills, knowledge and confidence through MoneyMinded financial education 4

5 A decade of impact INPUTS: Delivered in partnership with the Australian Government and community organisations in 60 sites across Australia Since 2003 ANZ has invested over $30m in Saver Plus (not including management costs and inkind contributions), including matching participant savings up to $500 per person, for education OUTPUTS: More than 27,000 people have participated in Saver Plus Leverage: The Australian Government has committed over $40m to the program to date, and has recently committed a further $29.4m over 5 years ( ) Over 500 ANZ branches are directly engaged with Saver Plus in their communities Resulting private sector investment in education (participants & ANZ) of over $30.6m Participants have saved over $16.9m, with ANZ matching over $13m Completed participants will continue to save over $30m by 2017 IMPACTS: Saver Plus has been demonstrated to build financial capability and resilience 1 87% continue to save the same amount or more after completing the program 87% are better able to plan ahead 84% encourage family and children to save 86% are better able to deal with financial problems 93% have increased self-esteem SRoI of $3.98 for every dollar of government funding ( ) 2 1. RMIT University, Saver Plus: A Decade of Saving, February Campbell, H. (2014) Valuation of Ability to Save Regularly, 5

their financial skills, knowledge and confidence Covers a range of essential money management topics Delivered in

6 Taking financial education to scale MoneyMinded was developed to respond to ANZ s research into adult financial literacy in Australia, in consultation with government, community and education experts The program assists people to improve their financial skills, knowledge and confidence Covers a range of essential money management topics Delivered in partnership with community organisations, customers and governments 360,000 RMIT University, MoneyMinded Impact Reports,

Taking financial education to scale INPUTS: Delivered in partnership with community organisations in 21 markets across Australia, New Zealand and Asia Pacific Since 2003

participated in MoneyMinded Over 2,000 community workers have been trained as MoneyMinded facilitators ANZ s demonstrated flagship program successfully taken to scale A

been measured by RMIT University since 2005 More than 360,000 people have received MoneyMinded education After completing MoneyMinded: 91.

7 Taking financial education to scale INPUTS: Delivered in partnership with community organisations in 21 markets across Australia, New Zealand and Asia Pacific Since 2003 ANZ has invested over $10m in MoneyMinded (not including management costs and in-kind contributions), including funding for partners OUTPUTS: More than 360,000 people have participated in MoneyMinded Over 2,000 community workers have been trained as MoneyMinded facilitators ANZ s demonstrated flagship program successfully taken to scale A consistent approach to impact evaluation has been applied, to enable comparison of program outcomes across diverse regions IMPACTS: The reach and impact of MoneyMinded has been measured by RMIT University since 2005 More than 360,000 people have received MoneyMinded education After completing MoneyMinded: 91.6% reported a greater capacity to make ends meet 92.8% encouraged children and family members to save 93.7% felt more in control of their finances. *Various MoneyMinded Impact Reports 7

Consumer Credit Code Amendment Bill 2007 and Consumer Credit Amendment Regulations 2007 Consultation Package

Consumer Credit Code Amendment Bill 2007 and Consumer Credit Amendment Regulations 2007 Consultation Package Submission to the Ministerial Council of Consumer Affairs October 2007 INTRODUCTION Australia