Brotherhood of St. Laurence and ANZ welcome Australian Government funding for Saver Plus
The Brotherhood of St. Laurence and ANZ today welcomed the Australian Government’s investment of more than $50 million over five years in matched savings and financial education program, Saver Plus.
The investment will enable Saver Plus to further expand its offerings and help a wider range of Australians gain financial skills and develop lifelong savings habits.
Established by the Brotherhood of St. Laurence and ANZ and delivered in partnership with the Smith Family and Berry Street, Saver Plus is the world's largest and longest-running financial education and matched savings program. It has helped over 64,000 participants to collectively save more than $31.5 million since 2003, with ANZ matching a further $26.5 million.
ANZ CEO Shayne Elliott said: "We welcome the additional funding commitment and ongoing support for Saver Plus from the Australian Government. This new grant will help to expand Saver Plus and support more Australian families and individuals to improve their financial wellbeing.
“Saver Plus empowers Australians to build their own financial literacy and develop positive, long-term and life-changing savings habits. Together with community organisations and Government, we have been able to make a sustained and tangible difference and work towards a shared goal of addressing important economic and social issues,” Mr Elliott said.
Brotherhood of St. Laurence Executive Director, Travers McLeod said: “We are proud of what we’ve achieved through the Saver Plus program with ANZ and our long-standing partners. Delivered by Brotherhood of St. Laurence, The Smith Family and Berry Street to communities across Australia and supported by funding from ANZ and the Australian Government, Saver Plus has helped over 64,000 participants take control of their financial wellbeing and build overall confidence.”
Minister for Social Services Amanda Rishworth said: “The Albanese Labor Government is doing more than ever to help Australians experiencing financial stress and expected hardship. We’re proud to continue our partnership with ANZ and the Brotherhood of St. Laurence to help low-income Australians navigate financial crises and build a stronger, more secure future for themselves, their families and communities.”
Melissa is a sole parent with three children who completed the Saver Plus program three years ago. Before joining the program, Melissa was apprehensive when it came to managing her money, but completing Saver Plus has empowered her to feel confident in her ability to save.
“I’m not scared now… to set financial goals. It has given me confidence to ‘want’ money, and to feel worthy of having money,” Melissa explained.
Saver Plus is a ten-month online program that uses the combined power of goal setting, incentives, and personal support to assist participants to reach their savings goals. Eligible participants who complete the program have their savings matched up to $500 by ANZ. Saver Plus creates a long-term savings habit, helping to build assets and gain control of finances. 84% of participants are still saving more than seven years after completing the program.
In 2023, Saver Plus expanded from 60 in-person sites to nation-wide by introducing an online model to better serve participants around the country, with this expansion receiving additional funding from the Australian Government.
For more information, including eligibility criteria, visit the Saver Plus page and the ANZ website.
To learn more about the Australian Government’s funding announcement visit the media centre for the Minister for Social Services .
To learn more about Melissa’s experience as a participant of the Saver Plus program, read this article in The Australian (behind a paywall) published on 7 February 2025 https://www.theaustralian.com.au/health/wellbeing/fiveyear-funding-lifeline-for-crucial-saver-plus-program/news-story/9e2354e8f24124aad2e06054f96d5050