Helen Macpherson Smith Trust

Closing date for this current Grant Round is 13.09.2018 View Grant Dates

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Case Study: Good Shepherd Microfinance

ProjectBuilding Financial Resilience for Geelong families through a Place-based Financial Inclusion Action Plan (FIAP) Program

Amount$197,500 over two years

Date2018

ProgramCommunity

TRUST OBJECTIVES PROJECT OBJECTIVES
Rural and regional Victoria Implementing an holistic, multi-sectoral collaborative approach in regional Geelong
Reducing inequality Enabling organisations to increase opportunities and reduce inequalities, particularly for women and Indigenous people
Enabling financial sustainability Embedding resilience-boosting actions into business-as-usual, ensuring longer-term sustainability through Local Resilience Action Plans (LRAPs)
Building organisational capacity Developing a robust evidence-base to inform continuous learning for participants and policymakers
Collaboration and partnership Give Where You Live, G21 and other Geelong-based stakeholder networks including government, community and business organisations

‘Shifting the dial’ to realise financial inclusion and resilience in the local Geelong community

Financial exclusion places people and their families at risk of financial hardships, leading to poverty, vulnerability to predatory lending practices and poor social, emotional and health outcomes. Together with 30 local organisations, Good Shepherd Microfinance will put together a place-based Action Plan that commits to building financial inclusion and resilience in the region.

Image On 1 June 2018, representatives from various Geelong organisations, GROW, Good Shepherd Microfinance FIAP team members, and FIAP trailblazers gathered to brainstorm potential strategies towards financial wellbeing and inclusion to be delivered through individual organisations, as well as through a place-based collective impact approach.

Implementation of a place-based Financial Inclusion Action Plan (FIAP) program will enable Geelong organisations to undertake actions which realise greater inclusion and resilience for vulnerable groups in their own sphere of influence.

  • Over two years, Good Shepherd Microfinance will trial and evaluate the program in Geelong, in partnership with the locally-driven GROW initiative between G21 and Give Where You Live.
  • GROW recognises the need for innovative, system-wide responses, focusing on generating jobs and economic prosperity. FIAPs offer complementary opportunities to better support job-seekers and employers by understanding financial vulnerability, and developing tailored responses including: proactive hardship-management; financial capability-building for clients, staff, suppliers and their families; supporting micro-enterprise; and access to microfinance.
  • The program will facilitate workshops, a Community of Practice and develop targeted tools enabling participants to implement actions to ‘shift the dial’ on realising financial inclusion and resilience in their local community.
  • The project leverages the national Financial Inclusion Action Plan (FIAP) framework. Good Shepherd Microfinance is leading the national FIAP program, an innovative, cross-sectoral collaboration to address growing problems of financial inclusion in Australia on behalf of the Australian Government.
  • Good Shepherd Microfinance’s experience shows that co-designing with 30 organisations has the potential to impact 6 million clients, yielding $2.9b GDP uplift, $600m government savings and $11.8b uplift in household wealth p.a. over 10 years.

goodshepherdmicrofinance.org.au

Last modified 18 July 2018

“We are receiving a warm welcome in Geelong, and forging exciting connections.” Dr Vinita Godinho, General Manager Advisory, Good Shepherd Microfinance