ANZ has announced an increase in funding for its MoneyBusiness financial education program, with a $100,000 contribution from the Federal Government. This funding will be combined with ANZ’s own $200,000 investment, resulting in a total of $300,000 to support the initiative. The bank will also provide additional resources and infrastructure to help expand the program.
MoneyBusiness is delivered by the Indigenous Consumer Assistance Network (ICAN), which works with First Nations communities across Australia. The new funding aims to enable ICAN to offer more tailored workshops and support tools.
Janet Liu, ANZ Head of Social Impact and Community, said: “MoneyBusiness has been a trusted program for nearly two decades, helping First Nations Australians strengthen their financial wellbeing through practical, community-led support. This funding will allow us to reach more communities, deliver more workshops, and continue working alongside ICAN to ensure the program reflects the needs and aspirations of participants.”
Aaron Davis, CEO of ICAN, stated: “MoneyBusiness provides foundational education and resources to build meaningful financial capability skills in some of Australia’s most socio-economically disadvantaged communities. We’re proud to deliver this program in partnership with the Federal Government and ANZ, ensuring that we’re reaching even more communities and, in turn, empowering them.”
Since its launch in 2005 through collaboration between ANZ and the Australian Government, MoneyBusiness has reached over 99,800 people. The program covers topics such as budgeting, saving, managing money for family needs, and understanding financial products.
A survey conducted last year by Prescience Research found that 91.7% of participants felt MoneyBusiness helped them manage their money day-to-day. Additionally, 94.6% agreed it improved their ability to address or plan for financial situations.
MoneyBusiness is part of ANZ’s broader First Nations Strategy called ‘Fuelling the Fire’, which seeks to promote economic self-determination among First Nations peoples.
The program does not promote ANZ products but instead offers unbiased consumer education focused on building financial skills within Aboriginal and Torres Strait Islander communities.
ICAN is a national organisation that provides free services including consumer education and financial counselling to Indigenous consumers across regional and remote areas.