Updated 9 February 2015
What is it?
Saver Plus is a 10 month financial education and matched savings program that assists families to gain financial skills, establish a savings goal and develop long term savings habits. As an incentive to save, participants receive up to $500 in matched savings when they complete the program which can be used for educational costs such as computers and tablets, text books and uniforms.
Who is eligible?
Participants may be eligible to join Saver Plus if they:
- have a Centrelink Health Care or Pensioner Concession Card
- are at least 18 years old
- have some regular income from work (self or partner) including casual, part-time, full-time or seasonal work
- have a child at school or themselves attend vocational education, and
- live, work, study or have a child at school in an area when Saver Plus is delivered.
Once eligible participants sign up for Saver Plus they:
- are assigned a Saver Plus Coordinator that provides personal support and guidance throughout the program
- identify a savings goal
- make regular deposits over 10 month period
- attend MoneyMinded training to improve their financial skills, which consists of four informative, fun and informal workshops.
Upon completion of the program, ANZ matches the participants' savings dollar-for-dollar up to $500 which can be spent on educational expenses including computers, text books, uniforms, excursions, music and sports costs.
How do I apply?
Saver Plus enrolments are currently closed. For more information visit the Smith Family website: https://www.thesmithfamily.com.au/what-we-do/our-work/at-home/saver-plus or contact Saver Plus email@example.com for information about the program in 2015.
Who runs it?
Saver Plus is an initiative of the Brotherhood of St Laurence and ANZ, delivered in partnership with The Smith Family, Berry Street, The Benevolent Society and other local community agencies. The program is funded by ANZ and the Australian Government, with ANZ providing matched savings for participants.
Set up in 2003 to encourage saving for educational expenses, Saver Plus is now offered by a range of community agencies in 60 communities across all states and territories in Australia.