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A 'reconciliation action plan' to improve ANZ bank's relationship with Australian aboriginal people is to be drawn up by the end of this year.
In a 'statement of commitment to reconciliation between indigenous and non-indigenous Australians', the Australia and New Zealand Banking Group says that it 'will provide practical, measurable activities' intended to lift aboriginal people out of poverty.
Australia's third-largest bank will also begin to work with the government, community groups and indigenous people 'to improve financial literacy, capability and inclusion among indigenous communities'.
ANZ's chief executive John McFarlane said the commitment showed the bank realized that 'our sector has an important role to play in serving, supporting and helping to advance indigenous communities'. More specifically, it is also a response to the results of ANZ's recently published financial inclusion research showing that aborigines have far lower levels of financial literacy than most people and have poor access to low-cost and secure financial services.
McFarlane said the plan will be aimed at building money management skills, confidence and a 'stronger savings culture' among aborigines.
ANZ has already developed its MoneyBusiness financial education programme in partnership with the government. The programme is now being piloted by community partners in Western Australia and the Northern Territory, where many aborigines live. It is also working with the Traditional Credit Union to improve financial literacy in the Northern Territory.
In a 'statement of commitment to reconciliation between indigenous and non-indigenous Australians', the Australia and New Zealand Banking Group says that it 'will provide practical, measurable activities' intended to lift aboriginal people out of poverty.
Australia's third-largest bank will also begin to work with the government, community groups and indigenous people 'to improve financial literacy, capability and inclusion among indigenous communities'.
ANZ's chief executive John McFarlane said the commitment showed the bank realized that 'our sector has an important role to play in serving, supporting and helping to advance indigenous communities'. More specifically, it is also a response to the results of ANZ's recently published financial inclusion research showing that aborigines have far lower levels of financial literacy than most people and have poor access to low-cost and secure financial services.
McFarlane said the plan will be aimed at building money management skills, confidence and a 'stronger savings culture' among aborigines.
ANZ has already developed its MoneyBusiness financial education programme in partnership with the government. The programme is now being piloted by community partners in Western Australia and the Northern Territory, where many aborigines live. It is also working with the Traditional Credit Union to improve financial literacy in the Northern Territory.
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