Saver Plus is a financial literacy and matched savings program developed to help people on low incomes set and achieve a savings goal and establish a long-term savings habit.
This is achieved by:
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providing financial education training
offering personal coaching support and guidance from a trusted community organisation
matching every dollar saved with an additional $1 (up to $1,000) towards education costs for participants’ children or their own vocational education.
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Saver Plus was developed by ANZ in partnership with the Brotherhood of St Laurence. Together we have extended the program through partnerships with Berry Street, The Smith Family, The Benevolent Society, and most recently, the Victorian Government. Saver Plus is now offered in 20 locations across Victoria, NSW, Queensland, Tasmania and ACT.
More than 4,800 people have participated in the Saver Plus program to 2008. ANZ and the Brotherhood of St Laurence are now looking to grow Saver Plus to reach more people in more locations.
There is also strong evidence Saver Plus is achieving its core objective of helping people develop a ‘savings habit’. An independent evaluation by RMIT University shows that 70% of Saver Plus participants continue to save the same amount or more two to three years after completing the program. Approximately 96% are reaching their savings goal during the program. Read more about the Saver Plus evaluation.
To be eligible to join Saver Plus participants must:
- be an adult, 18 years or over, either:
- with a child/children attending a government or independent primary or secondary school OR
- attending or returning to vocational education where an accredited vocational education certificate will be received;
- have a current Health Care Card or Pension Card;
- have regular income from paid employment.
Saver Plus has been recognised through numerous awards – most recently as Money Magazine’s Best of the Best: Socially Responsible Product. In addition, Saver Plus has been recognised in the Prime Minister's Awards for Excellence in Community Business Partnerships as the 2004 Victorian winner of the Large Business Category as well as part of ANZ's 2006 Special Impact award.
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