Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...

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Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
Taking Action to Make
Geelong the Most Financially
Inclusive and Resilient City

Australia’s First Place-Based
Financial Inclusion Action Plan
(2020- 2021)
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
The Financial Inclusion Action Plan                                    Evidence from the 650+ actions committed through
(FIAP) Program provides a platform for                                 the national FIAP program shows that11

organisations across diverse sectors to                                › $62m has been invested to support 121,000 people
combine forces to improve the lives of                                   in times of financial need
more than 2.1 million Australian adults                                › 500,000+ people have participated in financial
who are financially vulnerable.1                                         capability building workshops
                                                                       › 10,000+ employees have been trained to improve
Since 2015, the FIAP Program has enabled                                 their ability to support financially vulnerable
40 organisations to take collective action to                            households
realise greater financial inclusion, resilience and
wellbeing within their own sphere of influence.                        In early 2018, the Helen Macpherson Smith Trust
                                                                       extended an opportunity for Good Shepherd to
                                                                       leverage the learnings of the national FIAP Program
                                                                       and test it in a specific place of disadvantage in
                                                                       regional Victoria.
                                                                       Geelong was selected as the first location to pilot the
                                                                       concept of a Place-Based FIAP.

    2.1 million
                                                                       The place-based FIAP Program works on the premise
                                                                       that organisations which are on the ground are best
                                                                       equipped to understand local challenges, identify the
                                                                       risks and triggers of financial exclusion, and can take
                                                                       practical actions to address these in collaboration
        adults are financially                                         with others.
       vulnerable in Australia 1

                                                                    1 in 4
                                                              employees suffer from

                                                                                                         13%
                                                         financial stress, costing Australia

               1 in 3                                           $47 billion per year 2

          Victorian adults have
                                                                                                   Victorian adults are just
        low or very low level of
                                                                                                    managing to pay their
          financial knowledge 1
                                                                                                  debt and have no savings 1

              Rental stress in
                                                           68%
                                                      of Geelong’s workforce
             parts of Geelong is                        is unskilled labour 3

                 61%                                                                                   1 in 4
                                                                                                      households in Geelong
                                                                                                      live on a low income 3
            higher than Victoria 3

                  No one sector can address these wicked problems — businesses,
                 not-for-profits, academic institutions and governments must work
                             together to bring about a positive change.

2         Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
A message from
                                             Elaine Carbines

Financial exclusion is a global problem with               the internal resources they need to respond to
local implications and challenges. Research                unexpected financial shocks. Historically, Geelong
                                                           has benefited from successful cross-sectoral
from the Centre for Social Impact (CSI) at
                                                           approaches such as those practiced by G21-
UNSW Sydney shows that more than three                     Geelong Regional Alliance and the Give Where
million adults are financially excluded in                 You Live Foundation with their GROW initiative
Australia, lacking access to safe, affordable              which are leading the way in regional economic
and appropriate financial products and                     development in Australia. These initiatives
                                                           are successfully working with local business,
services when they need them. Many
                                                           government and community organisations to
people also lack financial resilience, the                 improve people’s lives in the Geelong region by
ability to recover from adverse financial                  taking actions to address disadvantage, respond
circumstances — 2.1 million adults are                     to global competition and collaborating with
financially vulnerable, and only 36 percent                others to develop region–wide community benefit.
of the population consider themselves                      The Geelong Financial Inclusion Action Plan
financially secure.                                        (FIAP) Program complements initiatives underway
                                                           in Geelong to address regional challenges. The
People on low incomes are at a higher risk                 FIAP enables local organisations from multiple
of experiencing financial stress and hardship;             sectors to take collective action to enhance
poverty; vulnerability to predatory lending                financial inclusion, resilience and wellbeing of the
practices, and poorer social, emotional and health         community, particularly for vulnerable groups
outcomes. Financial inclusion is therefore an              who are most likely to be ‘at-risk’ of low financial
important contributor to economic development              resilience. Actions such as better supporting job-
as it enables people to have access to safe and            seekers through a deeper understanding of their
affordable credit, savings and insurance.                  needs; developing responses including proactive
Despite three decades of economic growth in                hardship management; and financial capability-
Australia, many households in regional/rural               building for customers, employees and suppliers
communities experience significant poverty and             will contribute to community inclusion in Geelong.
socio-economic disadvantage, fueled by lower               Therefore, I would like to congratulate the local
education, lower-paid/lower-skilled jobs and               organisations (Geelong FIAP Pioneers) for their
uncertain work as compared to urban areas.                 proactive leadership in developing Australia’s first
The Geelong region aspires to be Australia’s               place-based Financial Inclusion Action Plan in
most desirable destination for living, visiting,           Geelong and acknowledge the support from Good
working and investing; renowned for its vibrant            Shepherd to enable this cross sectoral effort to
inclusive community, and vigorous economy.                 make Geelong the most financially inclusive and
Yet we acknowledge that the region is not                  resilient city in Australia.
without challenges, including the rising cost
of living, as well as pockets of specific socio-
economic disadvantage which experience
entrenched poverty.
While the level of financial inclusion and
resilience is directly associated with an individual,      Elaine Carbines
organisations have a critical role to play in              Chief Executive Officer
strengthening people’s ability to cope with                G21 – Geelong Region Alliance
financial adversity and support people to develop

                                      Taking Action to Make Geelong the Most Financially Inclusive and Resilient City   3
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
Leading the
way in Geelong
The Geelong Financial Inclusion Action Plan (FIAP) Program
is proud to acknowledge the proactive leadership of the local
organisations (Pioneers) in developing Australia’s first
place-based FIAP.
The FIAP Program has been conceived to enable organisations
from all sectors to better understand their own role in supporting
financial inclusion and resilience, and take practical actions to
realise this.

                                             Geelong FIAP Pioneers

4       Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
The Financial Inclusion
Action Plan (FIAP) Program
One fifth of the world’s population (1.7 billion adults)         Therefore, financial inclusion is a key pillar of economic
lacks access to formal financial services from a bank or         development and in acknowledgment of this the G20
digital payments provider. 4                                     members committed to a Global Financial Inclusion
                                                                 Action Plan at the 2010 Seoul Summit.
This financial exclusion compromises their ability to
break out of the cycle of poverty and participate in             Following this, at the 2014 G20 summit the Australian
economic development, as they cannot save, invest in             Government committed to develop a national financial
health or education, or take out a loan.                         inclusion action plan which would complement the UN
                                                                 Sustainable Development Goals.
Significant segments of the population in emerging
economies are impacted, in particular the rural poor,            Recognising that financial inclusion is best addressed by
women, and displaced people. Yet high-income,                    a cross-sectoral, action-led approach, Good Shepherd
developed countries are also likely to experience such           was commissioned in 2015 to develop and implement
exclusion — in Australia, almost 18% of adults lack access       Australia’s Financial Inclusion Action Plan in partnership
to safe and affordable credit, savings and insurance 1,          with EY and the Centre for Social Impact (CSI) at the
relying instead on informal providers who can charge             University of New South Wales 5.
exploitative fees, and draw unwary users into debt spirals
resulting in financial crisis.

                                                                                                                        ”
                                                    Financial hardship can impact us all, at any stage in our
                                                    lives. Through the FIAP program, our hope is that every
                                                    organisation will be able to respond in time and every time
                                                    to ensure financial hardship can be identified early, managed
                                                    and overcome. By building capability, awareness and greater
                                                    access to appropriate products and services, organisations in
                                                    Geelong will see social and economic benefits realised for their
                                                    customers, employees and the wider community. I would like
                                                    to congratulate the Geelong Pioneers for developing Australia’s
                                                    first place-based FIAP and for taking action to strengthen
                                                    financial wellbeing in their local community.

                                                    Stella Avramopoulos
                                                    Chief Executive Officer
                                                    Good Shepherd Australia New Zealand

                                           Taking Action to Make Geelong the Most Financially Inclusive and Resilient City    5
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
What is a

Financial Inclusion
Action Plan?
A FIAP is a commitment made by an
organisation to take practical actions to improve
financial wellbeing for its customers, employees,
supply chain and community partners.

How does the
Financial Inclusion Action
Plan Program work?
The Program provides support to organisations to develop a
FIAP using a consistent framework of tools and methodologies.
Members have the opportunity to build partnerships, and learn
from each other through online tools and regular Community of
Practice events. It also provides member organisations with the
opportunity to contribute to building resilient and supportive
communities by:

Enabling participants to                     Testing innovative                            Scaling-up what works via
work collaboratively across                  approaches to improving                       individual and collective
sectors                                      financial wellbeing                           action.

By committing to take practical actions, the FIAP members also contribute
to 12 of the 17 Sustainable Development Goals which are associated with
reducing inequalities and promoting inclusive growth.

6        Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
Why Geelong?

Challenges and Influences
The Geelong region has a diverse          The top two industries providing                Research shows that people on
economy, with growing industries          employment in Geelong - health care             low incomes living in regional/rural
and access to infrastructure, yet         and social assistance (15.3%) and               areas, in particular those who are
heavy manufacturing has historically      retail trade (12%) - are associated             unemployed/under-employed, are
been the biggest employer. More           with more casual/part-time contracts,           the most vulnerable to financial
recently, the uncertain global            lower pay and longer working hours.3            hardship, and the least able to
economy and technological                 It is therefore not surprising that             manage financial risks such as rising
disruption has led to the downsizing      employed Greater Geelong residents              cost of living.16
and closure of many factories.            are less likely to work full-time (57%)
                                                                                          Further life events such as
The local economy is transitioning        as compared to the Victorian average
                                                                                          relationship breakdowns resulting in
towards more diversified                  (64.5%).3
                                                                                          separation/divorce/family violence;
employment in higher-skilled service      Some suburbs have significantly                 ill health, death of family member
industries including education, health,   higher unemployment rates such as               or care giving responsibilities could
scientific research and tourism 10 yet    Corio-Norlane (21.6%), Portarlington            lead to financial stress and hardship,
those with lower skills and education,    (10.3%) and Newcomb — Moolap                    contributing to inter-generational
particularly older workers, are likely    (12.6%) as compared to the City of              poverty, limited access to stable
to be left behind.                        Greater Geelong (6.9%).9                        housing and social exclusion.

           10%
            of low income families
                                                                                 Second
            in Geelong are in need

                                                                                 highest
            of government support,
            compared to the Victorian
            average of 8.4%6

                                                                       level of homelessness in
                                                                      regional Victoria affecting
                                                                         47 people per 10,000                   7

              10.7%
             of households in Geelong
                face rental stress6

                                                                                                6.3%
                                                                                              of Geelong population
                                                                                            (aged 15-64 years) receive
                                Family violence                                             Disability support pension
                                                                                             as compared to Victorian
                               incidence rate of                                                 average of 4.7%6

                    1,274 per 100,000
                             persons in Geelong compared
                                to 1,166 per 100,000 in
                                        Victoria8

                                            Taking Action to Make Geelong the Most Financially Inclusive and Resilient City        7
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
8   Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
Developing Australia’s

First Place-Based FIAP
A place-based approach reflects an understanding of              The Geelong FIAP showcases the collective efforts
the community and its people and empowers them to                undertaken by the ten local organisations (Pioneers) who
develop a holistic response to a set of problems that are        are driven by the desire to improve financial wellbeing
specific to a location or community.                             outcomes in Geelong. The Pioneers put in enormous
                                                                 time and effort to understand the key challenges faced
Place-based approaches are producing positive results
                                                                 by their customers, employees and broader community
in Australia and globally, including greater uptake of
                                                                 and turned these challenges into opportunities for
services within communities and improved use of local
                                                                 taking action while envisioning Geelong to be the most
assets and infrastructure. This leads to better outcomes
                                                                 financially inclusive and resilient city in Australia.
for families and economic benefits at the regional, state
and national level.16

                              Objectives of a place-based FIAP

                          Promote local leadership                                         Create a framework for local
                          and identifying people                                           organisations to take actions
                          within the community                                             to realise financial inclusion,
                          who have the capacity to                                         resilience and wellbeing within
                          drive change.                                                    their sphere of influence.

                          Embed the identified actions                                     Enhance the financial wellbeing
                          into business as usual practice                                  outcomes of current and
                          of participating organisations.                                  future generations of residents
                                                                                           in Geelong.

          Over the longer term, implementation of the committed
                      actions are expected to deliver:

       Short term outcomes                        Medium term outcomes                            Long term outcomes

       › Improved support for                     › Organisational culture                        › Improved financial
         financially vulnerable                     enables employees                               capabilities
         customers, employees,                      to better identify and
                                                                                                  › Collective actions
         suppliers and wider                        support financially
                                                                                                    become industry norms
         community                                  vulnerable groups
       › Increased                                › More partnerships and
         understanding of                           collaboration to support
         barriers to financial                      vulnerable groups
         inclusion, resilience and
         wellbeing

                                            Taking Action to Make Geelong the Most Financially Inclusive and Resilient City   9
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City - Australia's First Place-Based Financial Inclusion Action Plan ...
Geelong FIAP
Journey to date

                                                                                       September
                                                                                       2018
                                                                                       s Six Financial
                                                                                         Inclusion
                                                                                         Principles for
                                                                                         Geelong defined
                                                 June 2018
                                                                                       s Opportunities for
                                                 s Vision for
                                                                                         actions identified
         January 2018                              Geelong
                                                   developed                           s Four working
         First place-based                                                               groups formed
                                                 s Gap Analysis
         FIAP project
                                                   and Ecosystem
         funded by the
                                                   mapping
         Helen Macpherson
         Smith Trust
         commenced
         in Geelong

10   Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
20 February 2020

                            August —                                                                                                                                                            Launch of
                            December 2019                                                                                                                                                       Australia’s first
                            s 40 actions co-
                              designed and
                                                                                                                                                                                                place-based FIAP
                              committed by the                                                                                                                                                  in Geelong
April — July 2019             FIAP Pioneers
s Quarterly Geelong
  FIAP Community of
  Practice meetings                                                                                                                                                                              Taking Action to Make
                                                                                                                                                                                                 Geelong the Most Financially
                                                                                                                                                                                                 Inclusive and Resilient City
  convened to provide         Working together to make
                              Geelong the Most

  opportunities for           Financially Inclusive and
                                                                                                                                                                                                 Australia’s First Place-Based
                                                                                                                                                                                                 Financial Inclusion Action Plan

                              Resilient City in Australia                                                                                                                                        (2020- 2021)

  networking and
  knowledge sharing                                                           2.1 million                                                    What is a Financial Inclusion Action
                                                                                                                                             Plan (FIAP)?
                                               1 in 4
                                                                                 adults are financially
                                                                                vulnerable in Australia 1
                                                                                                                                             The purpose of the Financial Inclusion Action
                                          employees suffer from                                                                              Plan (FIAP) program is to realise inclusive
                                         financial stress, costing                                                                           growth for individuals and communities in
                                      Australia $47 billion per year 2                                                                       Australia. A Place Based FIAP Program enables

s Geelong FIAP flyer
                                                                                                                                             local organisations from multiple sectors to
                                                                                                                                             take collective action to enhance financial

                                                                                              13%
                                                                                                                                             inclusion, resilience and wellbeing within their
                                                                                                                                             own sphere of influence.

                                                                                   Victorian adults are just
                                                                                  managing to pay their debt
                                                                                     and have no savings 1

  developed to share                           1 in 3
                                            Victorian adults have
                                          low or very low level of                                                                                    Geelong
                                                                                                                                                   FIAP Pioneers
                                            financial knowledge 1

                                                                                      68%
  the project overview                          Rental stress in
                                                                               of Geelong’s workforce
                                                                                 is unskilled labour 3

                                               parts of Geelong is

                                                   61%
                                             higher than Victoria 3
                                                                                       1 in 4
                                                                                   households in Geelong
                                                                                   live on a low income 3

                                           Financial wellbeing is everyone’s
                                             business. By working together,
                                        corporations, not-for-profits, academic
                                        institutions and governments can bring
                                                 about positive change.

                              1
                                  Centre for Social Impact (2018) Financial Resilience in Australia 2018, UNSW Sydney: Centre for Social Impact.
                              2
                                  Financial wellness in the Australian workplace (AMP) 2016
                              3
                                  Census of Population and Housing (2016), Australian Bureau of Statistics

                         Taking Action to Make Geelong the Most Financially Inclusive and Resilient City                                                                                                                           11
Collective
Actions, Leading
Change
Working together the Pioneers developed a future vision for
Geelong and a common set of financial inclusion principles to guide
the current and future actions. These principles were informed by
undertaking an extensive review of financial inclusion principles
from across the globe, as well as other relevant local principles
articulated in various local council plans.

                    Understand                                                           Collaborate
                    › The social and economic                                            › Through partnerships
                      determinants of financial                                            between government,
                      exclusion and resilience                                             business, academia and
                                                                                           community organisations to
                    › The impact of financial
                                                                                           achieve financial wellbeing
                      exclusion on overall wellbeing
                                                                                           for local communities
                      of individuals

                    Embrace                                                              Commit
                    › The needs, preferences and
                                                                                         › To person centric and
                      behaviours of people on the
                                                                                           targeted actions for groups
                      basis of gender, culture, age,
                                                                                           facing significant barriers
                      ethnicity, disability, sexual
                                                                                           to financial inclusion
                      orientation, life stages etc.
                                                                                           and resilience within the
                      while designing organisation
                                                                                           organisation’s sphere of
                      strategies
                                                                                           influence

                    Empower                                                              Measure
                    › Individuals and communities                                        › Progress through robust
                      to take informed financial                                           evaluation to inform better
                      decisions by drawing                                                 strategies and practices
                      on internal capabilities
                                                                                         › To build on the evidence base
                      and appropriate external
                      resources
                    › Organisations and their
                      employees to provide more
                      holistic support

12     Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
‘Shifting the Dial’ on Financial Inclusion,
Resilience and Wellbeing in Geelong

                                                                                                                             40
Over the past 24 months, the Geelong Pioneers have worked
together to understand the local challenges contributing to
financial hardship and stress, and co-designed 40 actions to
address these challenges. These actions focus on improving
                                                                                                                     actions to address
access to safe and affordable products and services, increased
                                                                                                                      local challenges
understanding of financial vulnerability, enhancing economic
security, and financial capability.

Actions committed in the Geelong FIAP are expected to prevent people
from falling back into distress and improve financial resilience which include
implementing hardship and cross referral programs to better support
vulnerable customers; improving the availability of targeted supports such
                                                                                                                               10
                                                                                                                              Pioneer
as emergency relief, specific scholarships for students in financial hardship,                                              Organisations
delivery of financial capability development workshops; and identifying the
challenges of employees experiencing financial hardship.
The Geelong FIAP recognises and acknowledges the potential synergies and
collaboration opportunities with various community driven and multi-sectoral
initiatives in Geelong.

                  The Geelong FIAP complements local initiatives

                                                                                                          GREATER GEELONG

                       G21 HEALTH AND WELLBEING PILLAR
                       PRIMARY CARE PARTNERSHIP
                       STRATEGIC PLAN 2018 - 2021

                                                                                                                                   1.

                                                                                                       Greater Geelong:
                     G21 Region Health
                                                                  Taking Action to Make                  A Clever and
                     & Wellbeing Plan                             Geelong the Most Financially
                                                                  Inclusive and Resilient City         Creative Future
                                                                  Australia’s First Place-Based
                                                                  Financial Inclusion Action Plan
                                                                  (2020- 2021)

                                                                                                          Council Plan 2017-2021
                                                                                                            Revised 27 June 2018

                                                                                                                                        1

                                                                                                    Colac Otway Health &
                                                                                                       Wellbeing Plan

                         GROW
                     Strategic Plan

                                                         Taking Action to Make Geelong the Most Financially Inclusive and Resilient City    13
Turning Good
Intentions into
Real Outcomes
The actions co-designed by the Pioneers respond to a wide range of triggers of
financial exclusion and low resilience and address the needs of multiple stakeholders.

     Number of actions by                                                     Number of actions by
     FIAP Action Areas                                                        Stakeholder groups
                                 10
                                 Understanding of                                 15
                                 Financial Vulnerability

      12                                                                                                                    12

                                                                                                                  11
      Financial                                                                                10
      Capability

                                                                                                              9

      7                                     11
      Economic                              Product                          Community       Students    Employees Customers
      Security                              and Services
                                                                             Note: Number of actions can overlap across
                                                                             stakeholder categories

     Number of Pioneer actions addressing key risks

                                                                   Student/
                                                                    Youth                                                 Women/
                                                                                                Low Income                Gender

               Financial Hardship

                                                                Employment
                                                                                                        Gambling             Mental
                                                                                                                             Health

14         Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Supporting
           Customers
           in Hardship

“
We are proud to be part of the first place-based FIAP program in Geelong,
as Barwon Water has a long history of supporting regional prosperity and
engaging with the community to make a difference to health and wellbeing.
Our aim is to build financial inclusion and resilience of our customers
and we are committed to supporting those who may be vulnerable and
experiencing financial difficulties. The FIAP program has and will continue
to provide us with an opportunity to enhance these outcomes as we
challenge the way we think, test new ideas and work with others to create a
greater impact within our local community and region as a whole.

Jo Murdoch
General Manager, Customer & Community
Barwon Water

      Customer Assistance Pop-Ups
      with Barwon Water
     Barwon Water recognises that some                    One of the ways we are raising more
     customers may from time to time                      awareness of our program is through our
                                                          new shopping centre pop-up stalls. These are
     experience hardship, which may vary                  providing our customers with an alternate way
     in its extent and duration depending                 to access our services that form part of the
     on individual circumstances. Just                    customer support program. Since mid-2019
     over 12 months ago Barwon Water                      we have been to Corio, Newcomb, Colac and
     undertook a series of workshops with                 Ocean Grove shopping centres, helping
                                                          over 200 customers.
     support agencies who directly assist
     people experiencing hardship within                  This is how we met Mary. Without success,
                                                          Barwon Water had attempted to make
     the region. These sessions explored the
                                                          contact with Mary on a number of occasions,
     group’s definitions of hardship, areas               to see how we could provide a greater level
     of hardship in our region and priorities             of support. We did end up providing this
     relating to this.                                    support, following Mary’s visit to our pop-up
                                                          location in Corio.
     The feedback and learnings from these                What we were not aware of was that Mary had
     sessions led us into co-designing our Customer       a hearing disability and was unable to answer
     Support Strategy, which is centred around four       our calls. When meeting her in person, we
     strategic objectives:                                were able to place Mary on an Arrange & Save
     1. Building capability of our staff                  payment plan as well as assist her to complete
                                                          a Utility Relief Grant application which has
     2.	Improving and expanding on our suite of          since been granted by the Department of
        hardship programs                                 Health and Human Services as well as being
     3. Raising awareness                                 matched by Barwon Water.
     4.	Building trust through partnerships and
        engagement.

                                     Taking Action to Make Geelong the Most Financially Inclusive and Resilient City   15
FIAP Action Area One

Products and Services
We will provide safe, affordable and accessible products and
services which meet the needs of our customers, employees
and the broader community.

 Products and Services
 Stakeholder     Committed Action              Output                           Outcome                         Responsibility    Timeframe
                 Statement

 Customers,      Design and deliver a          s Ensure relevant policies,     s Improved support for          Barwon Water,     June 2020
 Community       customer cross referral          procedures and agreements       financially vulnerable        Colac Otway
                 program in partnership           are established.                customers, staff, suppliers   Shire, Colac
                 with local organisations to   s The cross referral program       and wider community           Area Health
                 better support customers        has been tested and rolled     s More partnerships and
                 experiencing financial          out.                             collaboration to support
                 hardship.                                                        vulnerable groups

 Community       Develop an innovative         s Formalise partnerships with   s Increased pathways & tools    Give Where You    December
                 program, in collaboration        key stakeholders for roles      for ongoing support for       Live Foundation   2020
                 with AWA Alliance Bank,          and responsibilities.           vulnerable groups
                 to enable access to           s Pilot commenced.              s Improved access to
                 personal transport for                                           appropriate financial
                 employment purposes                                              products and services
                 such as a no interest
                 loan product with an
                 insurance component for
                 job seekers to buy a car or
                 work tools.

 Customers       Raise awareness of            s Design and deliver             s Improved support for          Barwon Water      December
                 Barwon Water Hardship           communication via website,       financially vulnerable                          2020
                 Program to reach                social media and printed         customers, staff, suppliers
                 and service more                media.                           and wider community
                 communities.                  s Promote the hardship           s More partnerships and
                                                 program at community             collaboration to support
                                                 events and local shopping        vulnerable groups
                                                 centres.
                                               s Targeted promotion of our
                                                 customer support programs
                                                 to eligible customers on a
                                                 regular basis.

 Customers       Explore options to            s Relevant partnerships to be    s Improved support for          Barwon Water      December
                 implement water related         identified and established       financially vulnerable                          2022
                 services including              as needed and programs           customers, staff, suppliers
                 water audits and                to be designed and               and wider community
                 plumbing assistance.            implemented.

 Customers       Review credit                 s Correspondence reviewed        s Improved support for          Barwon Water      December
                 and collections                 and updated to reflect a         financially vulnerable                          2020
                 correspondence language         more inclusive language on       customers, staff, suppliers
                 as an ongoing process to        an ongoing basis.                and wider community
                 ensure it is more inclusive
                 and supportive to
                 vulnerable customers.

 Customers       Explore opportunities         s Identify and establish         s Improved support for          Barwon Water      December
 Community       to work with local              relationships with local         financially vulnerable                          2020
                 councils and other local        organisations such as Colac      customers, staff, suppliers
                 organisations to address        Otway Shire, City of Greater     and wider community
                 financial hardship in the       Geelong, Centrelink etc.       s More partnerships and
                 Barwon water region.                                             collaboration to support
                                                                                  vulnerable groups

16           Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Stakeholder   Committed Action             Output                            Outcome                         Responsibility    Timeframe
              Statement

Students      Review the consolidated      s Review policy and               s Increased pathways & tools    Deakin            December
              financial support program      procedures to enhance             for ongoing support for       University        2020
              for students facing            inclusion.                        vulnerable groups
              significant challenges       s Review communication
              to remove systematic           channels and messages to
              barriers to inclusion.         prospective and current
                                             students.
                                           s Increased number of
                                             scholarships awarded on an
                                             equity and needs basis.

Students      Increase visibility and      s Increase in number of           s Increase in targeted and      Deakin            December
              awareness of financial         referrals and enquiries           scalable resources to build   University        2020
              counselling services           to financial counselling          financial capabilities
              facilitated through Deakin     services.                       s Improved support for
              University Student           s Information dissemination         financially vulnerable
              Association (DUSA) in          through one to one                customers, staff, suppliers
              Geelong.                       interactions as well as           and wider community
                                             digital channels on a regular
                                             basis.

Students      Organise a pop-up tax        s A pop-up tax help service       s Increase in awareness and     Deakin            December
              help centre in Geelong         established in Geelong            availability of appropriate   University,       2020
              campus prior to end of         campus.                           financial services            Deakin
              financial year                                                                                 University
                                                                                                             Student
                                                                                                             Association

Students      Increase visibility and      s A range of communication        s Improved support for          Deakin            August
              awareness of Work              platforms are designed            financially vulnerable        University        2020
              and Development                and delivered for students/       customers, staff, suppliers   and Deakin
              Permit program, an             staff including internal          and wider community           University
              initiative designed to         publication, pop up             s Increased pathways & tools    Student
              assist students with           information session, web          for ongoing support for       Association
              infringement debt to           pages, student network to         vulnerable groups             (in partnership
              work off their fines           inform students/staff about                                     with Barwon
              through participating in       the initiative.                                                 Community
              designated activities, in                                                                      Legal Service
              Geelong.                                                                                       and Department
                                                                                                             of Justice)

Customers     Raise awareness of           s Information about the           s Improved support for          City of Greater   December
              assistance available for       assistance the City can offer     financially vulnerable        Geelong           2020
              ratepayers experiencing        to rate-payers experiencing       customers, staff, suppliers
              financial hardship to          financial hardship is revised     and wider community
              ensure greater uptake          and communicated through        s Increased pathways & tools
              of that assistance by          appropriate channels and          for ongoing support for
              vulnerable community           platforms.                        vulnerable groups
              members.

                                                Taking Action to Make Geelong the Most Financially Inclusive and Resilient City            17
Community
            opportunities
            for financial
            inclusion

     Re-building Life after Family
     Violence through Financial
     Counselling Support with Bethany

     Sally visited Bethany Community                              The financial counsellor negotiated with
     Support to seek assistance to re-                            various service providers to arrange more
                                                                  flexible payment options as well as transferring
     establish herself after being separated                      accounts to her ex-husband’s name – accounts
     from her husband due to family violence.                     that were set up in her name initially as her ex-
                                                                  husband was unable to receive services due to
                                                                  non-payment of previous debts.
     She was looking for a rental property for
     herself but was unable to pay the bond or                    Currently, Sally is applying for family violence
     rent in advance. She did not have any savings                flexible support packages so she can
     due to her partner’s gambling habits and                     concentrate on other debts in her name and
     accumulated debts.                                           move on from her past.
     Bethany’s financial counsellor sourced initial               Sally keeps the financial counsellor updated
     support from housing establishment funding                   when she is able to pay down and cancel a
     to assist with bond and advance rent to secure               debt, moving payments to the next debt.
     a rental property for her.                                   She continues to save $200 per fortnight. At
                                                                  times, Sally uses this money for unexpected
     Sally was also offered assistance with
                                                                  expenses, but she is committed to keeping her
     budgeting, debt management and financial
                                                                  savings going so she can reach her goals.
     goal setting. She had numerous personal loan
     debts and outstanding bills that had been put
     in her name, joint debts which she was now
     left to negotiate and pay the outstanding
     amount on her own.

18   Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City   19
FIAP Action Area Two

Financial Capability
We will foster organisational culture to enhance the financial
capability of employees, customers and the community.

Financial Capability
Stakeholder     Committed Action             Output                            Outcome                         Responsibility    Timeframe
                Statement

Community       Explore ways of              s Training conducted for          s Increased financial           Give Where You    December
                incorporating money            employment consultants            capability of individuals     Live Foundation   2020
                management sessions            about financial
                as part of the existing        hardship and/or money
                service offerings to the       management.
                jobseekers.                  s A checklist is developed
                                               to help employment
                                               consultants to identify
                                               clients financial challenges
                                               or their needs for support.
                                             s One to one support offered.

Customers       Provide targeted financial   s Training materials and          s Improved support for          MatchWorks        December
Community       capability workshops for       support are designed and          financially vulnerable                          2020
                MatchWorks clients (job        developed specific to the         customers, staff, suppliers
                seekers) in partnership        needs of job seekers.             and wider community
                with local providers with    s Financial capability            s Increased financial
                opportunity to refer to        information sessions and          capability of individuals
                further support when           support are delivered.
                required.

Customers       Provide education and        s Workshops and forums are        s Improved support for          Bethany           Ongoing
Community       support for individuals        delivered as identified by        financially vulnerable
                and community groups to        the community.                    customers, staff, suppliers
                improve financial literacy                                       and wider community
                skills                                                         s Increased financial
                                                                                 capability of individuals

Students        Facilitate and deliver       s Workshops and information       s Increase in targeted and      Deakin            March /
                money management               sessions are delivered.           scalable resources to build   University        April 2020
                workshops for students                                           financial capabilities
                in residential colleges
                to build their financial
                capability.

Community       Deliver money                s Workshops and information       s Increase in targeted and      Deakin            December
                management workshops           sessions are delivered in         scalable resources to build   University        2020
                for year 11 students           outreach program.                 financial capabilities
                targeted through Deakin                                        s Improved support for
                University outreach                                              financially vulnerable
                program to build their                                           customers, staff, suppliers
                financial capability.                                            and wider community

Students        Raise awareness of           s Pop-up information              s Improved support for          Deakin            Wellbeing
                financial support              sessions are delivered.           financially vulnerable        University,       Week
                services including money     s Introduction of Webinars to       customers, staff, suppliers   Deakin            December
                management resources           promote financial literacy        and wider community           University        2020;
                at the ‘Wellbeing Week’        covering multiple topics,                                       Student           Open Days
                and ‘Open Day’ Deakin          such as credit cards,                                           Association       August
                University (Geelong            budgeting etc.                                                                    2020;
                Campus) in partnership                                                                                           Webinars
                                             s Feedback and surveys on
                with internal and external                                                                                       June 2020
                                                student needs and priorities
                stakeholders.
                                                are collated.

20          Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Stakeholder   Committed Action              Output                            Outcome                         Responsibility    Timeframe
              Statement
Students      Explore financial             s Executed agreement              s Increase in targeted and      Deakin            August /
              management needs of             between the Faculty of            scalable resources to build   University        September
              students in transition to       Nursing and Midwifery and         financial capabilities                          2020
              workplace with a focus          internal/external financial
              on final year students in       service provider.
              School of Nursing and         s Delivery of financial
              Midwifery. Facilitate           management sessions for
              financial capability            final year students.
              development sessions in
              partnership with a service
              provider.

Students      Provide targeted financial    s Training materials are          s Improved support for          Deakin            June 2020
              capability workshops for        designed and developed in         financially vulnerable        University,
              Higher Degree Research          partnership with internal/        customers, staff, suppliers   Deakin
              students in School of           external service providers.       and wider community           University
              Arts and Education with       s Financial capability                                            Student
              opportunity for referral        workshops are facilitated                                       Association
              to further support when         and delivered.
              required.

Students      Deliver financial wellbeing   s Three training sessions are     s Increase in targeted and      First State       Ongoing
              and money management            held annually.                    scalable resources to build   Super
              sessions for graduating       s Post training session             financial capabilities
              students in Geelong             queries are referred to First
              tertiary institutes.            State Super for further
                                              assistance.

Customers     Deliver ‘Super Women’         s Training modules are            s Increase in targeted and      First State       Ongoing
              module at local                 developed and delivered.          scalable resources to build   Super
              workplaces in Geelong.        s Post session queries are          financial capabilities
                                              referred to First State Super   s Increase in strategies
                                              for further assistance.           to address economic
                                                                                inequality (e.g. equitable
                                                                                pay, mentoring,
                                                                                superannuation, education,
                                                                                housing)

Customers     Incorporate personal          s Information sessions            s Increase in targeted and      First State       Ongoing
              finance related                 delivered to mid/senior           scalable resources to build   Super
              conversations as part           managers.                         financial capabilities
              of the professional           s Post information session
              development programs            queries are referred to First
              for management teams            State Super for further
              in workplaces to enhance        assistance.
              financial literacy and
              capability of their team
              members.

Employees     Provide education and         s Forums and information          s Increase in targeted and      City of Greater   December
              support to improve              sessions are delivered.           scalable resources to build   Geelong           2020
              financial literacy and                                            financial capabilities
              capabilities of our staff.                                      s Increased financial
                                                                                capability of individuals

                                                 Taking Action to Make Geelong the Most Financially Inclusive and Resilient City            21
22   Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Assisting
      Job Seekers
                                                      MatchWorks paid for car repairs so I

                                                                                                     ”
                                                      could keep my job. They paid for my
                                                      rego and petrol, medication, dental
                                                      work, glasses and food vouchers —
                                                      it gave me back my life!

                                                       Kerry
                                                       MatchWorks client

MatchWorks helped Kerry find
employment with less financial stress
MatchWorks client Kerry knows all too well            “Leanne stood by me the whole way and I got
what it feels like to desperately need support.       massive support from MatchWorks,” she said.
The mature-age job seeker found herself in            “MatchWorks paid for car repairs so I could
real financial trouble after her marriage ended.      keep my job. They paid for my rego and petrol,
Then depression and agoraphobia set in.               medication, dental work, glasses and food
                                                      vouchers — it gave me back my life!”
“No-one wanted to employ me even though I
had years of experience…I ended up homeless,          MatchWorks General Manager jobactive, Nicole
surviving on one meal a day,” Kerry said.             Mattsson said Kerry is one of a huge number
                                                      of job seekers who need financial assistance.
The Torquay job seeker needed dedicated
support to get life back on track. That’s where       “Providing financial assistance means we
MatchWorks stepped in with employment                 remove some of the burden so people can
services and financial assistance.                    focus on finding the right job with less stress,”
                                                      Nicole said. Kerry loves her new Social Support
“We advised Kerry to retrain in aged care
                                                      role at Simply Helping and describes them as
so she could boost her employability,”
                                                      an inclusive company who values mature-age
MatchWorks Employment Consultant, Leanne
                                                      employees.
McPherson said.
                                                      “It’s the best job ever. These people [Simply
“At first she resisted strongly… then
                                                      Helping clients] are really doing it tough and
homelessness loomed again and it was the
                                                      I want to give back after all the support
motivation Kerrie needed to finish her course.”
                                                      I received,” Kerry said. “They make my day and
Kerry said she got life-changing support from         I know I am making their day too.”
MatchWorks once she proved herself.

                                 Taking Action to Make Geelong the Most Financially Inclusive and Resilient City   23
FIAP Action Area Three

Understanding of
Financial Vulnerability
We will investigate, advocate and collaborate for
improved responses to financial vulnerability.

Understanding of Financial Vulnerability
Stakeholder       Committed Action             Output                            Outcome                         Responsibility   Timeframe
                  Statement

Community         Undertake research on the    s Research result, findings      s Increased understanding       Colac Otway      June 2021
                  impact of gambling on           and recommendations              of barriers to Financial      Shire
                  overall wellbeing of Colac      are released to relevant         Inclusion, Financial
                  Otway residents including       stakeholders.                    Resilience and Financial
                  financial wellbeing.         s Analysis of research             Wellbeing (including
                                                  findings to inform the           economic inequality)
                                                  development of initiatives
                                                  to address the risks and
                                                  challenges of gambling.

Employees         Provide an employee          s Training sessions and           s Organisational culture        MatchWorks       December
                  training program to better     information sessions are          enables staff to better                        2020
                  assist MatchWorks clients      delivered to employees on         identify and support
                  experiencing financial         regular basis.                    financially vulnerable
                  hardship in collaboration                                        groups
                  with a specialised local
                  organisation.

Employees         Design and deliver           s Training sessions are          s Organisational culture        Barwon Water     December
                  an employee training            designed to include              and capability enables                         2020
                  program to better assist        guidelines for referrals to      staff to better identify
                  customers in hardship           external support services.       and support financially
                                               s Training provides family         vulnerable customers
                                                  violence awareness.
                                               s Training is delivered on a
                                                  regular basis.

Customers         Explore options to           s Review data related to          s Increased understanding       Barwon Water     December
                  proactively identify           customers behavior and            of barriers to Financial                       2022
                  vulnerable customers           patterns to identify triggers     Inclusion, Financial
                  through predictive             and indicators and predict        Resilience and Financial
                  analysis                       financial vulnerability for       Wellbeing (including
                                                 proactive provision of            economic inequality)
                                                 appropriate support.            s Improved support for
                                                                                   financially vulnerable
                                                                                   customers, staff, suppliers
                                                                                   and wider community

Community         Work with communities        s Provide counselling support     s Improved support for          Bethany          Ongoing
                  to reduce the impact of        and information sessions.         financially vulnerable
                  gambling harm through                                            customers, staff, suppliers
                  the Gambler’s Help                                               and wider community
                  Program.

Community         Support businesses in        s Gambling harm workplace         s Improved support for          Bethany          Ongoing
                  implementation of the          policy is communicated            financially vulnerable
                  gambling harm workplace        across businesses through         customers, staff, suppliers
                  policy                         local channels.                   and wider community
                                                                                 s Increased pathways &
                                                                                   tools for ongoing support
                                                                                   for vulnerable groups

24          Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Stakeholder   Committed Action              Output                            Outcome                        Responsibility    Timeframe
              Statement
Students       Build an understanding        s Inform a deeper                s Increased understanding     Deakin            December
               of current student               understanding of                 of barriers to Financial    University        2020
               experiences around               circumstances, needs and         Inclusion, Financial
               managing money, dealing          wants of students studying       Resilience and Financial
               with financial difficulty        in Geelong                       Wellbeing (including
               and seeking support for       s 	Development of potential        economic inequality)
               financial matters.                opportunities to support
                                                 students studying in
                                                 Geelong

Community      Review the existing           s New endorsed and               s More partnerships and       Deakin            December
               partnership with Smith           executed Memorandum of           collaboration to support    University        2020
               Family to better identify        Understanding between            vulnerable groups           and The
               the impact of ‘Learning          Deakin University and Smith                                  Smith Family
               for Life’ scholarships on        Family for 2020.                                             Foundation
               alleviating entrenched        s 	Collated data on ‘Learning
               disadvantage in Geelong.        for Life’ scholarships
                                               informs longitudinal study
                                               on positive contribution
                                               of impact investment on
                                               education in Geelong.

Employees      Understand the extent         s 	Research results, findings    s Increased understanding     WorkSafe          February
               of financial challenges           and recommendation are          of barriers to Financial    Victoria          2020
               experienced by WorkSafe           released to WorkSafe, ASIC      Inclusion, Financial
               employees and gain                and the victorian public        Resilience and Financial
               insights on the reality of        sector.                         Wellbeing (including
               financial preparedness for    s 	Analysis of research            economic inequality)
               the future in order to be         findings to inform the
               prevention led.                   development of an
                                                 employer based financial
                                                 wellbeing program.

Community      Review and update the         s A robust Council policy that    s Increased pathways &        City of Greater   December
               current Electronic Gaming       documents the relationship        tools for ongoing support   Geelong           2020
               Policy to strengthen            between the number of             for vulnerable groups
               the Council's role in           electronic gaming machines
               addressing the negative         and the health and welfare
               impacts of problem              of our community.
               gambling and promoting
               health and welfare of the
               community.

                                                Taking Action to Make Geelong the Most Financially Inclusive and Resilient City            25
Enhancing
            Financial
            Wellbeing of
            employees

     Workplaces Have an Opportunity
     to Prevent Late Life Poverty
     Australia has an emerging pattern of                         Employers can provide the opportunity by
     homelessness in older age and this                           focusing on motivations for people to learn
                                                                  more and provide for their future, ultimately
     is particularly evident for women. A                         improving their financial wellbeing and sense
     key contributing factor is that savings                      of control over their lives.
     of older working women remain low,                           Removing stigma and encouraging open
     often due to a lifetime of lower incomes                     conversation about finances in places of
                                                                  employment could be coupled with financial
     and interrupted employment patterns
                                                                  literacy program to boost people’s confidence
     resulting in first time homelessness                         about money.
     later in life.14 Evidence suggest that                       At WorkSafe Victoria we explored whether
     employers have a role in reversing                           our people had similar financial wellbeing
     trends of financial vulnerability,                           needs to what global research suggests.
                                                                  The outcome is that they do have financial
     by enhancing employees’ financial                            wellbeing and literacy needs, despite being a
     capability throughout their employee                         skilled workforce.
     life cycle.15                                                The next steps will be important as we need to
                                                                  find a way to build financial capability into the
                                                                  employee life cycle at WorkSafe Victoria.

26   Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Taking Action to Make Geelong the Most Financially Inclusive and Resilient City   27
FIAP Action Area Four

Economic Security
We will remove barriers and provide opportunities for
economic security, equality, and growth.

 Economic Security
 Stakeholder     Committed Action              Output                            Outcome                         Responsibility    Timeframe
                 Statement

 Community       Development of self-          s Pilot completed for             s Increase in strategies        Give Where You    December
                 assessment tool to test         organisations to self-assess      to address economic           Live Foundation   2020
                 the capacity of businesses      their capacity in inclusive       inequality (e.g. equitable
                 in enabling an inclusive        employment practices.             pay, mentoring,
                 employment environment.       s A list of resources are           superannuation, education,
                 Co-design a suite of tools/     trialed and developed to          housing)
                 resources accessible for        support GROW compact            s Policies, processes &
                 business to increase their      signatories.                      actions implemented
                 inclusive employment                                              to address economic
                 practices(including                                               inequality
                 financial well-being).

 Customers       Empower women                 s Local organisations             s Increase in strategies        First State       Ongoing
                 in the workplace by             are supported through             to address economic           Super
                 engaging with multiple          materials including e-book,       inequality (e.g. equitable
                 organisations to address        video series to initiate          pay, mentoring,
                 the issue of the gender         conversations around              superannuation, education,
                 super gap.                      gender super gap.                 housing)
                                               s Deliver tailored sessions as
                                                  per request.

 Employees       Incorporate financial         s Develop and implement           s Increase in targeted and      WorkSafe          December
                 wellbeing as one of             an employee financial             scalable resources to build   Victoria          2020
                 the key components in           wellbeing program                 financial capabilities
                 the existing employee           addressing many aspects         s Improved support for
                 wellbeing program of            of the employee life cycle        financially vulnerable
                 WorkSafe.                       including at employee             customers, staff, suppliers
                                                 orientation and pre-              and wider community
                                                 retirement stages.
                                                                                 s Increase in awareness and
                                                                                   availability of appropriate
                                                                                   financial services

 Employees       Actively promote the          s Financial wellbeing             s Improved support for          WorkSafe          December
 Community       results of WorkSafe’s           component considered as           financially vulnerable        Victoria          2021
                 research on employees’          part of employee health           customers, staff, suppliers
                 experiences of financial        and wellbeing programs            and wider community
                 wellbeing and encourage         by employers across public      s More partnerships and
                 consideration of financial      and private sectors in            collaboration to support
                 wellbeing by employers          Victoria.                         vulnerable groups
                 across public and private
                 sectors.

28           Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
Stakeholder   Committed Action              Output                           Outcome                        Responsibility    Timeframe
              Statement

Employees     Develop a gender pay gap      s Remuneration audit is          s Increase in strategies       City of Greater   December
              strategy which includes         conducted and gaps               to address economic          Geelong           2021
              conducting a gender pay         actioned by Executive            inequality (e.g. equitable
              gap analysis of the City        Leadership Team.                 pay, mentoring,
              of Greater Geelong as an                                         superannuation, education,
              employer.                                                        housing)

Community     Develop an engagement         s The new communication          s Increased pathways & tools   City of Greater   December
              and communication               kit will be developed and        for ongoing support for      Geelong           2021
              kit which will provide          published on different           vulnerable groups
              external stakeholders with      platforms (online pages,       s Policies, processes &
              consistent information on       newsletters, social media).      actions implemented
              gender equity, equality,                                         to address economic
              diversity and inclusion.                                         inequality

Employees     Provide a suite of            s Learning program suite is      s Organisational culture       City of Greater   December
              learning programs (with         designed and delivered in        enables staff to better      Geelong           2020
              consistent information on       relevant workshops and           identify and support
              gender equity, equality,        forums.                          financially vulnerable
              diversity and inclusion) to   s Staff are aware of available     groups
              build staff capacity and        learning program and given     s Increase in strategies
              awareness in inclusive          opportunity to participate.      to address economic
              practices.                                                       inequality (e.g. equitable
                                                                               pay, mentoring,
                                                                               superannuation, education,
                                                                               housing)

                                                 Taking Action to Make Geelong the Most Financially Inclusive and Resilient City          29
2020
     and beyond

     Australia’s first place-based FIAP in Geelong is an
     important milestone to enhance financial inclusion,
     resilience and wellbeing of regional communities
     across Australia.

     This journey will continue with the efforts of               Over the next 12 months, the Geelong FIAP
     the Pioneers to identify more opportunities for              Pioneers will implement the committed
     taking practical actions.                                    actions and share their experiences with local
                                                                  stakeholders. The successful implementation
     Addressing mental health issues and youth
                                                                  of the plan will be underpinned by Pioneers’
     disadvantage emerged as the two major
                                                                  shared vision for Geelong to be the most
     areas of opportunities for future actions at
                                                                  inclusive and resilient city in Australia and their
     the recently held Geelong FIAP Community of
                                                                  commitment to promote financial wellbeing
     Practice in December 2019.
                                                                  outcomes for Geelong residents.
     Research shows that there is a strong
                                                                  Monitoring and evaluation will play an
     relationship between an individual’s mental
                                                                  important role in measuring the outcomes and
     health status and financial wellbeing
                                                                  impact of FIAP actions and allow organisations
     outcomes. Also evidence suggests that
                                                                  to demonstrate change or lack thereof, and
     improving financial literacy and capability of
                                                                  know where and for whom they are making a
     young adults are key to positive economic
                                                                  difference.
     outcomes throughout their lives.12, 13

30   Taking Action to Make Geelong the Most Financially Inclusive and Resilient City
References
1.	Financial Security and the Influence of Economic          10.	G21 Economy, Jobs and Business Insights,
    Recourses, Financial Resilience in Australia 2018,             REMPLAN economy profile, https://app.
    Centre for Social Impact for NAB                               remplan.com.au/geelongregion/economy/
                                                                   summary?state=EJO1Fv71fzgwmaS3837zNHEhZhxn8
2.	Financial Wellness in the Australian Workplace
                                                                   accessed Dec 2019.
    2018, AMP.
                                                              11.	Taking Action To Make Financial Wellbeing Everyone’s
3.	Census of Population and Housing 2016, Australian
                                                                   Business, Learning and Evidence from the Transition
    Bureau of Statistics.
                                                                   Phase of the Financial Inclusion Action Plan, Program
4.	G20 Financial Inclusion Action Plan 2017 https://www.          report July 2019.
    gpfi.org/publications/g20-financial-inclusionaction-
                                                              12. Breidbach, C, Culnane, C, Godwin, A, Murawski, C
    plan-fiap-2017 accessed Dec 2019.
                                                                   & Sear, C, How Australians feel about their finances
5.	Collective Actions Leading Change, Financial                   and financial service providers 2019, the University
    Inclusion Action Plan, Launch Report November 2016,            of Melbourne
    Good Shepherd Microfinance.
                                                              13. F
                                                                   inancial Education and Youth, https://www.oecd.
6.	PHIDU Social Health Atlas of Australia: Population            org/finance/financial-education-and-youth.htm
    Health Area online 2018 http://phidu.torrens.
                                                              14. Petersen, M. & Parsell, C. 2015, Homeless for the first
    edu.au/social-health-atlases/data#social-
                                                                   time in later life: An Australian study. Housing Studies.
    health-atlas-ofaustralia-population-health-areas
                                                                   30(3) 68-391. University Queensland.
    Accessed Dec 2019
                                                              15. Black, C. 2008, Working for a healthier tomorrow.
7.	Council to Homeless Person 2018, Geelong - State
                                                                   Crown Copyright. London TSO.
    Electorate Homelessness Profile 218 ,https://chp.
                                                                   https://www.rnib.org.uk/sites/default/files/Working_
    org.au/wp-content/uploads/2018/09/Geelong-
                                                                   for_a_healthier_tomorrow.pdf
    Electorate-Profile.pdf, accessed 11 October 2019
                                                              16. Living on the Edge, Inquiry into Intergenerational
8.	G21 Geelong Regional Alliance, Greater Geelong
                                                                   Welfare Dependence, 2019 House of Representative
    Region Profile, July 2019.
                                                                   Select Committee on Intergenerational Welfare
9.	Department of Jobs and Small Business, ‘Small Area             Dependence.
    labour Markets Australia’.
    https://www.employment.gov.au/small-area-labour-
    markets-publication-0

                                                     Taking Action to Make Geelong the Most Financially Inclusive and Resilient City   31
For more information about the FIAP Program,   Supported by
please visit fiap.org.au

For inquiries please contact:
fiap@gsmicrofinance.org.au
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