Good Shepherd Microfinance wins Financial Literacy Australia Awards

Good Shepherd Microfinance wins Financial Literacy Australia Awards

Good Shepherd Microfinance has won two Outstanding Achievement Awards at the 2015 Financial Literacy Australia Awards.

Good Shepherd Microfinance was recognised for the launch of its comprehensive financial abuse online training program. ‘Women and Money: An Introduction to Financial Abuse’, is being rolled out to the 1,500 workers and volunteers in the No Interest Loans Scheme to help them identify financial abuse among clients and make appropriate referrals to support services.

Financial abuse is a form of family violence that negatively impacts a person financially and undermines their efforts to become economically independent. It’s estimated that two million women in Australia have experienced financial abuse, yet awareness of the issue is so low that many women who have experienced financial abuse don’t identify themselves as victims.

The second award was for ‘Life Changing Chats’, a report which looked at the impact of the financial conversation held between a microfinance workers and StepUP loan applicants. The report found that the financial conversation had a positive impact on clients’ financial behaviour, skills and knowledge. The report found 66 per cent of StepUP loan recipients reported an increase in confidence when dealing with money.

Thanks to our partners

Good Shepherd Microfinance thanks Australian Securities and Investments Commission (ASIC) and the Office of Women for their support in producing ‘Woman and Money’, as well as NAB, our valued partners in the StepUP loan program.

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