Good Shepherd Microfinance is delighted to welcome three new partners to the Financial Inclusion Action Plan (FIAP) Program, bringing the total number to thirty-three. BUSSQ, Ergon Energy Retail, and Water Corporation WA have all made commitments to develop plans to address issues of financial hardship and exclusion, in co-operation with Good Shepherd Microfinance and the thirty Trailblazer organisations that have already joined the program and released their action plans.
Three million people in Australia are severely or fully excluded from financial institutions and their banking and insurance products. Financial exclusion places people and their families at risk of financial hardships. This can lead to poverty, vulnerability to predatory lending practices and poor social, emotional and health outcomes.
The FIAP program provides an opportunity for organisations to take real action to realise financial inclusion – especially for women. In joining the program, these new participants will develop and publish strategies of practical action to improve financial inclusion and wellbeing for their customers, staff, suppliers and communities.
BUSSQ provides superannuation to the construction industry in Queensland. Their FIAP will recognise the importance of financial wellbeing for mental health as construction workers have a suicide rate that is twice the national average.
Water Corporation is the principle provider of water in Western Australia, and the first FIAP organisation to join the program from that state.
Ergon Energy Retail provides energy to all of regional Queensland, including many remote and indigenous communities. They are committed to providing more support for customers who face genuine hardship in paying for their electricity bills.
More information: https://goodshepherdmicrofinance.org.au/services/financial-inclusion-action-plans-fiap/ .