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Good Shepherd Australia Microfinance Matters
 
 
 
 
 
Small Amount Credit Contract Review 
 
 
Consumer leases are ‘credit-in-disguise’ and should be subject to the same regulations as payday lending, says Good Shepherd Microfinance’s submission to the Small Amount Credit Contract review.
 
The submission also calls for a limit on the cost and length of consumer leases, the introduction of mandatory positive credit reporting for payday lenders and consumer lease companies, and the expansion of ‘protected earnings provisions’ to all people on low incomes.
 
 
 
 
 
Good Money launches in South Australia 
 
 
The first ‘one-stop shop’ providing financial services to South Australians on low imcomes, including no and low interest loans, has opened in Salisbury in Adelaide’s northern.  
 
Minister for Communities and Social Inclusion, the Hon. Zoe Bettison MP, was on hand to launch Good Money, an initiative backed by the South Australian Government, Good Shepherd Microfinance and National Australia Bank.
 
 
 
 
 
Quote Marks
 
“When I went in for the interview, I thought there is no way in the world I’d get the feedback I did ... I wouldn’t be able to get this anywhere given my circumstances.” 
 
Good Money Salisbury client, John, highlights the value of the new store.
 
  Quote Marks
Australia’s first insurance products for people on low incomes
One in five adults in Australia doesn’t have general insurance cover for their contents, car or home. This lack of cover places people living on low incomes in a precarious financial position where even minor mishaps affecting key assets, like cars and fridges, can result in significant financial hardship.
 
That’s why we’ve been working with Australia’s biggest insurers to develop affordable products that meet the needs of people on low incomes.

Essentials by AAI
Essentials by AAI allows people to ‘mix and match’ cover for contents and cars, with premiums starting as low as $4.00 per week. Customers will be able to choose cover options for contents of $10,000 and $20,000, and up to two cars valued at $3,000 and $5,000. Read more.

Insurance 4 That by IAG
Insurance 4 That is a low-cost and accessible single item insurance product, providing an alternative to traditional contents insurance by enabling people to insure individual items such as electronics, whitegoods, medical devices, furniture and musical instruments. Read more.
 
 
 
Let's get animated 
 
 
Did you know 1.3 million YouTube videos are viewed every minute?

That’s why we've developed an animation to explain the No Interest Loan Scheme’s process and criteria in a simple and friendly manner.

The animation uses plain English and highlights the diversity in our customer base.

We encourage you to share the video on social media, websites, and other channels.
 
 
 
 
 
Royal Commission into Family Violence 
 
 

The CEOs of both Good Shepherd Australia New Zealand and Good Shepherd Microfinance were called to give evidence to the Royal Commission into Family Violence.

Adam Mooney, CEO of Good Shepherd Microfinance, talked about financial abuse and the role microfinance can play in tackling the issue.

 
 
Financial Inclusion Action Plans
In the May 2015 Budget, the Australia Government made a commitment to develop the country’s first Financial Inclusion Action Plan program. We are delighted that Good Shepherd Microfinance has been invited to lead this work in partnership with the Department of Social Services, Ernst & Young, and the Centre for Social Impact. The four partners bring unique and complementary skills to the development of this important initiative. 
 
The program will be launched in early 2016 when the first 10 trailblazers are announced. As we draw closer to realising the vision for Australia’s first Financial Inclusion Action Plan program, we introduce the partners involved and ask why their organisation has signed up to lead this new development.
Read more.
ASIC report exposes ‘rent to buy’
An Australian Securities and Investment Commission report into the ‘rent to buy’ contracts has exposed the industry’s exorbitant pricing and willingness to target people on low incomes.
 
People often sign up for rental contracts because they have limited access to other forms of finance and the fortnightly or monthly repayments appear affordable. What they don’t understand is that, unlike NILS where a client will only ever pay back what they borrowed, the cost of 'rent to buy' finance is equivalent to interest rates of over 250 per cent. Read more.

Anti-Poverty Week (11-17 Oct)
Inspired by the United Nations International Day for the Eradication of Poverty, Anti-Poverty Week is an annual event to raise awareness of poverty.

Read more and find out how you can get involved.

Perfect score for financial inclusion

Our valued partner, National Australia Bank, has scored 100 out of 100 for financial inclusion initiatives in the Dow Jones Sustainability Index – the most widely recognised global index tracking the world’s leading companies against social, economic and environmental criteria.

Good Shepherd Microfinance and NAB share a goal to reach 1 million people on low incomes with microfinance by 2018. Read more.