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Financial Inclusion Action Plan launched in Northern Adelaide

2022-04-13

A Financial Inclusion Action Plan (FIAP), aimed at building financially resilient communities, was launched in Northern Adelaide on Tuesday 13 April 2022.

The plan is funded by DHS (with the Office for Women one of the major participants) along with Good Shepherd Australia New Zealand SA/NT and eight other organisations.

DHS Chief Executive Lois Boswell, who delivered the keynote speech at the launch event, said the core of the department’s business is making a difference so South Australians from all communities thrive.

“We know that financial inclusion is crucial to a thriving community, and we are proud to be involved in this initiative,” she said.

Increased cost of living, global volatility and the ongoing economic impact of COVID-19 are having a negative influence on the financial resilience and wellbeing of local communities.

Northern Adelaide has undergone significant economic shift

According to Good Shepherd CEO Stella Avramopoulos Northern Adelaide has undergone significant economic shift in the last ten years.

“The local communities in Playford and Salisbury have been struggling with high youth unemployment, low levels of educational outcomes and high rental stress combined with a greater concentration of low-income households in comparison to the rest of South Australia, which has only been exacerbated by the pandemic,” Ms Avramopoulos said.

She said that enhancing financial inclusion and resilience was crucial to ensuring individuals, families, and community members across the region are safe, well, strong and connected.

10 organisations working together

The Northern Adelaide FIAP will see 10 diverse organisations work together to provide practical solutions and targeted pathways for at-risk people to become financially resilient using over 50 measurable actions.

These actions focus on improving access to products and services, increase an understanding of financial vulnerability, improve financial capability and enhance economic security.

As research shows that women are more significantly impacted by financial stress than men, the Office for Women will deliver a financial literacy education program for women living in Northern Adelaide

The participating organisations include:

  • the City of Salisbury
  • DHS Office for Women – Government of South Australia
  • UniSA STEM Mawson Lakes
  • Possible Consulting
  • Tindo Solar
  • Anglicare SA
  • Northern Area Community and Youth Services (NACYS)
  • Relationships Australia SA
  • Workskil Australia
  • Good Shepherd Australia New Zealand SA/NT.

The Department of Human Services provides over $6 million in funding to the not-for-profit sector to deliver a specific suite of programs that aim to tackle poverty and improve financial resilience for vulnerable people.

Ms Boswell concluded: “We are committed to building great relationships with our partners to achieve safe, empowered and connected communities. This is a great example of what can happen when we work together.”

Find more information on the Northern Adelaide FIAP in the PDF document (PDF 3.2MB).

Page last updated : 05 May 2022

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