Saver Plus: a decade of impact

Abstract

SAVER PLUS: A DECADE OF IMPACT February 2015 Roslyn Russell Mark Stewart Felicity Cull School of Economics, Finance and Marketing RMIT University

In 2003 with the Brotherhood of St Laurence we developed and piloted a new program that encouraged people on lower incomes to save. Today that program, Saver Plus, operates across Australia. More than 500 of our branches refer people to the program. More than 23,000 people have participated, becoming long term savers. Saver Plus has helped lower income Australians get their kids to school in uniform and with the IT equipment they need, buy household goods, and set up and manage the household budget. For some, home ownership has become a reality. Partnership is the key to the success of Saver Plus. I thank our community partners: the Brotherhood of St Laurence, Berry Street, the Benevolent Society and the Smith Family for their work in delivering the program and working with us through the refinements and changes that occur over a decade.