Good Money

Good Money

Many of the three million people experiencing financial exclusion in Australia have been turned away from mainstream financial institutions, often more than once.

So where do they go when they need to replace a broken fridge, fix the car or pay education costs? Unfortunately many people end up using high cost credit options like payday loans or ‘rent to buy’ services. The negative impacts of this ‘fast cash’ often means that people have to take repeat loans and are left in a spiral of debt.

Good Money community finance stores were created to offer safe, affordable and responsible financial services for people on low incomes.

These stores support customers to make responsible and sustainable financial decisions that lead to greater social inclusion and long-term financial self-management.

An innovative partnership between Good Shepherd Microfinance, the Victorian, South Australian and Queensland Governments, and National Australia Bank has enabled Good Money to set up in prominent ‘high street’ locations.

Good Money was launched in Victoria in 2012 with stores in Geelong, Collingwood and Dandenong. It expanded to South Australia in 2015 with the opening of a store in Salisbury, and into Queensland in 2017 with stores in Cairns and Southport. In 2017, an additional Victorian store was also opened in Morwell.

Products available through Good Money include NILS and StepUP Loans, Essentials by AAI, and the AddsUP matched savings plan. Stores can also provide referrals to other services such as financial counselling, Legal Aid and Centrelink.

Latest News from Good Money

24 August 2016

Good Money Salisbury turns one

Good Money has celebrated the first birthday of its Salisbury store in style, with a visit from the Minister for Communities and Social Inclusion, the Hon. Zoe Bettison MP, and journalists from channels Nine and Seven.

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1 July 2014

Back on track with NILS

Robert never imagined he would need to access the No Interest Loan Scheme (NILS). Like many of our clients, he previously always counted himself lucky.

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18 April 2019

Survey shows Aussies ashamed to share their money troubles

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21 July 2017 Media Release

Good Money in high demand on the Gold Coast

The Gold Coast’s new Good Money community finance store has been inundated in its successful first few months, with more than 400 enquiries resulting in 70 no and low interest loans worth more than $70,000.

Today the Good Money store at Southport welcomed the Shadow Minister for Financial Services, Senator Katy Gallagher, and Queensland Labor Senator, Murray Watt, to find out more about its no and low interest loan schemes and financial counselling.

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It puts you on a par with everyone else and gives you access to fair and affordable finance.

Barbara, Good Money client

Our hearts and thoughts go out to everyone impacted directly or indirectly by the coronavirus pandemic.

Good Shepherd will continue to provide No Interest Loans (NILS) to people in our community who need this support. We are revising our financial hardship policy and will keep you updated. For assistance, please contact your nearest NILS provider or Good Money store.