AddsUP Savings Plan

AddsUP Savings Plan

*Please note that the AddsUP Savings Plan will not be available after April 30th 2017. The National Australia Bank and Good Shepherd Microfinance are conducting a review of the program due to overwhelming demand and hope to have it back up and running soon.

The AddsUP Savings Plan is a partnership between Good Shepherd Microfinance and NAB, that encourages NILS and StepUP clients to develop positive, long-lasting savings habits.

As part of managing their loan repayments, NILS and StepUP clients often develop valuable budgeting and savings strategies. By the time their loans are repaid, many clients have greater control of their finances than ever before.

The AddsUP Saving Plan encourages people to maintain their budgeting and savings measures after they’ve paid off their NILS or StepUP loans by matching their savings of $500, dollar for dollar.

When someone saves $500, NAB will match their savings dollar for dollar, so they have $1,000.

The money AddsUP clients save and the $500 from NAB can be spent any way they wish, enabling clients to define their own financial wellbeing. Popular reasons for saving include holidays, car expenses and building a financial safety net.

More than 2,000 NILS and StepUP clients have completed the AddsUP Savings Plan, with the amount saved and matched exceeding $2 million.

The program’s clientele reflects our focus on improving opportunities for women and girls, with women representing 72 per cent of applicants.

The AddsUP Savings Plan is offered at selected NILS and StepUP providers across Australia.

Latest News from AddsUP Savings Plan

10 February 2016

“It’s changed my life, the way I look at things and my attitude in general” – Dianne, AddsUP client

As a single mother of two boys and full time carer to her son with Down Syndrome, Dianne never thought she was in a position to save. But the AddsUP Savings Plan has her on the way to a new car.

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12 September 2016

Four reasons to pay more attention to your finances

There’s nothing like feeling confident and in control of your money. The good news is those moments happen more often if we take some time to understand our finances better.

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11 June 2016 Media Release

Queenslanders get access to ‘Good Money’ for the first time

The Queensland Government is supporting the Good Money stores which will be in Cairns and on the Gold Coast.

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28 April 2017 Media Release

Good Money Store in Cairns Provides Support For People On Low Incomes

More than 110,000 people in Far North Queensland could be eligible to borrow money for essential goods and services and pay no or low interest through the region’s first Good Money community finance store.

Good Money opens today on Mulgrave Road at Bungalow and provides access to the No Interest Loan Scheme (NILS) and the StepUP low interest loan, helping people on low incomes by offering a better alternative to the high fees that come with cash loans and expensive consumer lease contracts.

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If someone had have said that to me before I started this program I would have said ‘you’ve got to be kidding, how can I possibly put that much money aside.

Dianne, AddsUP Savings Plan client