The national Indigenous financial foundation has been left scratching its head on how the Banking Royal Commission recommendations will fix a 43% financial exclusion rate for First Nations people. In a disappointing blow, very little has been done to protect Aboriginal and Torres Strait Islander people's and build Indigenous financial knowledge.
For our media release:
First Nations Foundation launches the Big Super Day Out 2018 video (Nov 2018).
Reaching 10 communities (of which 8 were very remote), First Nations Foundation helped reunite 1125 people with $14.5 million Indigenous superannuation. This is Indigenous worker's wages which have been lost, or in many cases, Indigenous people didn't realise they had!
Imagine how much we could find if we reached the estimated 320,000 Indigenous workers!!
If you are a superannuation fund, administrator or insurer and want to see more Indigenous people build their balances and get a better retirement outcome, sponsorship is now open for Northern Territory and Western Australia in 2019. Go here to register interest: BigSuperDayOut Interest
Superannuation funds, group insurers and administrators: your chance to take superannuation to First Australians in 2019 is now open! In 2019 First Nations Foundation hopes to extend its award-winning @BigSuperDayOut events to northern and western Australia! The more sponsors, the more locations. We have already reconnected $14.5M Indigenous super with their owners in 13 days, the best return on investment going.
Click here to register for a prospectus: BigSuperDayOut Interest
First Nations Foundation was deeply honoured and humbled to be invited to return to Canada in October 2018 to deliver a second keynote speech to the national AFOA Canada conference in Ottawa.
Talking on the theme of how Indigenous people can position strongly for jobs of the future, FNF Chief Executive Officer Amanda Young spoke passionately on the innovation and diverse thinking Indigenous people bring to the workforce, then joined an excellent panel to explore in more depth.
We were also proud to share our expertise (and success) in Indigenous financial literacy, sharing our stunning results due to our Indigenous-designed fin lit program, My Moola. We are excited to soon be pivoting and scaling this to a digital program. The future is looking bright!!
August 2018 Melbourne
In Melbourne an exciting meeting took place in early August: community organisations, superannuation funds and government regulators put their heads together to work out how to make super better for First Australians.
First Nations Foundation CEO Amanda Young urged the superannuation industry to reinvest the fees paid by Indigenous members into community superannuation initiatives like the Big Super Day Out Supported by the ASIC Indigenous Outreach Program, Anglicare NT and Moneymob Talkabout, community organisations told the super funds they were groaning under the strain of the high demand for services in Indigenous superannuation and need the sector to help. AustralianSuper impressed the room with its Indigenous call centre which cost $0 to implement and has had over 8000 calls in its first few months.
Hosted by AIST (charity partner of First Nations Foundation), their CEO Eva Scheerlinck, superannuation funds were asked to commit to real action. The focus of the Royal Commission into the financial industry on Indigenous financial inclusion shows the community expects better.
We eagerly await the superannuation industry's next move.
Better super for Indigenous Australians.
Calling all Indigenous people aged 18+! Take 20 minutes to do this survey and it might put $100 in your back pocket! (Yes it is confidential.)
It's 2018 and we don't know anything about the Indigenous financial position nationally. Indigenous charity First Nations Foundation wants to change than and has partnered with the Centre for Social Impact (UNSW) for a confidential snapshot into what financial resilience means for Aboriginal and Torres Strait Islander people.
Report out in September 2018.