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Good Shepherd Australia Microfinance Matters
 
 

As we celebrate 35 years of the No Interest Loan Scheme (NILS) and reflect on our past, we're also reminded of the opportunities that lie ahead by the success of Good Money's expansion into South Australia and plans for the Nation's first women's inclusive finance summit - Resilient Women.

Our latest research highlights the value of the financial conversations between microfinance workers and their clients, while a report from Centre for Social Impact and NAB outlines the services and supports people need to become financially resilient.

ALSO IN THIS EDITION: Corinne Proske joins the team, Good Insurance product wins another award, and Edwina and Joan share their stories about financial inclusion.

Good Shepherd Microfinance will host Australia’s first leadership summit focused on building women’s financial resilience through networks, products, income and capability.
 
The Resilient Women Summit, to be held in Sydney on Friday 25 November 2016, will:
  • Share the stories, challenges and successes of resilient women
  • Identify the barriers impacting on the financial resilience of women
  • Examine the products, capabilities and resources that women need to effectively manage their finances, especially in times of adversity
  • Look at actions that individuals and organisations can take to improve financial resilience
Jane Caro, Saul Eslake, and Christine Nixon will be joined by a host of Australian and international experts to drive financial inclusion for every woman. For a full list of speakers, and to book your ticket, visit www.resilientwomen.org.au

35 years of no interest loans

In 1981, petrol was 35 cents a litre, you could post a letter for 22 cents and Sydney’s median house price was $78,000!

Thankfully, one product has been immune to the pressures of inflation. In 1981, the No Interest Loan Scheme (NILS) began offering small loans to people on low incomes. Thirty-five years and 181,000 clients later, there are still no fees, no interest and no charges. Read more.

 
 
 
Saying goodbye with an important ritual
 
 
Edwina’s partner passed away last year. He was from the Torres Strait Islands and she was both an Aboriginal and Torres Strait Islander woman. Saying goodbye with a tombstone ceremony was an important ritual for both of their cultures.
 
Thursday Island in the Torres Strait
 

Measuring the impact of NILS
Pathways to resilience is an important step in understanding NILS's impact on the financial capability of clients. The report looks at the impact of the financial conversations, which are at the core of our microfinance programs, and confirms previous research that emphasises the positive impact of the personal support that is offered to every applicant.

The learnings from this research build our evidence-base to support ongoing efforts to enhance program design and maximise the impact of each financial conversation. Read more.
More than 2,000 visit Good Money Salisbury in first 12 months

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

Minister Bettison joined Good Money clients and the team to cut a birthday cake and reflect on the contribution the store has made to the local community in its first year. Channels Nine and Seven were on hand to capture the celebrations.

 
 
 
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Good Money has established itself within the local community as a trusted organisation where individuals and families can get sound advice and access to responsible products.
 
Minister for Communities and Social Inclusion, the Hon. Zoe Bettison MP, on Good Money's first birthday
 
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New report shifts focus to resilience

A new research report, Financial Resilience in Australia, recently released by Centre for Social Impact in partnership with NAB, identifies four key components that contribute to financial resilience: economic resources, financial products and services, financial knowledge and behaviour, and social capital. This research helps our microfinance workers by offering further understanding of preventative actions and a more complete picture of the services and supports people need.

The report supports what we've always known intuitively, and suggests new areas for us to consider. Read more.

Essentials wins innovation award
Australia’s first insurance product for people on low incomes, Essentials by AAI, won Innovation of the Year at the Australian Insurance Industry Awards, having already won awards for innovation at the Canstar Awards, Money Magazine Awards and the AB+F Insurance Awards.

Suncorp’s Annabelle Butler, a driving force behind Essentials by AAI, was also recognised as Insurance Leader of the Year. Read more.
 
 
 
NILS enabled Joan to stay in the workforce
 
 
What do you do when you need your car for work, but can’t afford registration and insurance?

This was the situation Joan faced year after year. She was working in aged care and needed her car to visit clients and drive them around, but her income was low and registration and insurance was “too expensive.”

Thankfully Joan spoke to Gosford City NILS.
 
 
New recruit has a wealth of experience 
We’re delighted that Corinne Proske has joined Good Shepherd Microfinance’s Executive Team as General Manager – Retail and Online.
 
Corinne is widely respected and known to all of us as an inspiring and capable leader in inclusive finance in Australia. Corinne joins us from NAB where she was Head of Community Finance and Development for the last seven years and, for the last year, was also Director – Government, Education and Community Banking, Victoria. 
 
Corinne was instrumental in NAB’s $130 million commitment to microfinance, sharing our goal of reaching a million people and seeing NAB recognised as one of the world’s leading banks in inclusive finance.  Prior to NAB, Corinne worked with PwC and Ernst & Young, providing advisory services in the environmental and sustainability fields and lectured at RMIT University in environmental accounting. 
 
In 2013, Corinne was acknowledged in the MoneySmart Week awards for outstanding individual achievement for positive impact in lifting financial capability.  We know that Corinne has strong values and is committed to, and demonstrates, Good Shepherd values of social justice, dignity, respect, compassion and reconciliation.

Corinne joined Good Shepherd Microfinance because she is passionate about social justice and fairness.

"I believe that money provides many of us with choice - choice to stay in relationships, choice to reach our potential. I am keen to help people make educated choices. This means we must be customer focussed and ensure that the needs of those most vulnerable are always front of mind," said Corinne.
 
 
 
 
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“Doing the right thing and achieving commercial outcomes need to, and can, align. Business is only successful when society succeeds."
 
Corinne Proske 
General Manager - Retail and Online
 
 
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Take a tour of our new website
Last financial year almost 150,000 people visited our website. These visitors spent 9,000 hours reading about Good Shepherd Microfinance, our programs and insights.

Our new mobile dynamic site makes browsing easier, better integrates our social media platforms and makes it easier to find what you're after. Take a tour at www.goodshepherdmicrofinance.org.au.