October 05, 2011
Saver Plus Gives Locals Incentive to Save
Since 2010 over 145 people from Glen Eira,Kingston and Port Phillip areas have benefited from Saver Plus, Australia’s largest matched savings program. The program has re-opened recruitment in Glen Eira and Jewish Care Victoria is looking for new participants.
“Now that we’re recruiting again, Saver Plus will continue to make a positive difference by building participants’ money management skills,” said Deena Elmakeas from Jewish Care Victoria.
“Participants in Glen Eira and surrounds have saved over $45,000 and have used their matched savings to help pay for laptops, school uniforms and sports fees,” she said.
Saver Plus assists people on lower incomes to strengthen their financial skills and develop a savings habit. The program has reached over 11,000 Australians to date, matching their personal savings dollar for dollar, up to $500, to help pay for educational costs for themselves or their children.
The Honourable Julie Collins MP, Parliamentary Secretary for Community Services recently launched the 2011 Saver Plus summary report. The new research shows that 87 per cent of past Saver Plus participants continue to save at the same rate or more two years after completing the program and report greater life satisfaction with an ability to control their finances and reduce debt levels.
ANZ Branch Manager Carnegie Jeff Chong, said his branch staff are looking forward to assisting more local participants to save.
“The 2011 Saver Plus research confirms the positive outcomes of this program,” he said. “ANZ is proud to continue working closely with Jewish Care Victoria to make the program available in our local community.”
Saver Plus was developed by ANZ and the Brotherhood of St Laurence in 2002. The program is funded by ANZ and the Australian Government Department of Families, Housing, Community Services and Indigenous Affairs, with ANZ providing matched savings for participants.
To be eligible to join Saver Plus participants need to:
“Now that we’re recruiting again, Saver Plus will continue to make a positive difference by building participants’ money management skills,” said Deena Elmakeas from Jewish Care Victoria.
“Participants in Glen Eira and surrounds have saved over $45,000 and have used their matched savings to help pay for laptops, school uniforms and sports fees,” she said.
Saver Plus assists people on lower incomes to strengthen their financial skills and develop a savings habit. The program has reached over 11,000 Australians to date, matching their personal savings dollar for dollar, up to $500, to help pay for educational costs for themselves or their children.
The Honourable Julie Collins MP, Parliamentary Secretary for Community Services recently launched the 2011 Saver Plus summary report. The new research shows that 87 per cent of past Saver Plus participants continue to save at the same rate or more two years after completing the program and report greater life satisfaction with an ability to control their finances and reduce debt levels.
ANZ Branch Manager Carnegie Jeff Chong, said his branch staff are looking forward to assisting more local participants to save.
“The 2011 Saver Plus research confirms the positive outcomes of this program,” he said. “ANZ is proud to continue working closely with Jewish Care Victoria to make the program available in our local community.”
Saver Plus was developed by ANZ and the Brotherhood of St Laurence in 2002. The program is funded by ANZ and the Australian Government Department of Families, Housing, Community Services and Indigenous Affairs, with ANZ providing matched savings for participants.
To be eligible to join Saver Plus participants need to:
- be at least 18 years old;
- hold a Health Care or Pensioner Concession card;
- have some form of regular income from work; and
- be a parent or guardian of a child at school, or attend vocational education themselves.