News

Funding Boost Announced for Financial Assistance Services Across Western Sydney

Source: Marise Payne Liberal Senator for Western Sydney
Posted: 10 Nov 2018
Australians experiencing financial hardship will benefit from $50 million in funding in the first of three Financial Wellbeing and Capability Activity grants announcements under the Liberal-National Government.

Minister for Families and Social Services, the Hon Paul Fletcher MP, has announced that 65 organisations will use the funding to offer critical services in financial resilience across every state and territory.

“This funding is designed to help Australians who are at a disadvantage. This funding will benefit both individuals and families in meeting immediate needs in times of crisis and teaching financial management skills for the long-term,” Mr Fletcher said.

“Community organisations will receive funding to help people get back on track, learn how to better manage their money and become financially independent.

“Nearly 700,000 people accessed Financial Wellbeing and Capability services last year and this announcement enables continuity for organisations, communities and vulnerable Australians.

“Funding will provide financial counselling for problem gamblers, financial literacy and no interest loans of up to $1,500, which enable people on low incomes to purchase essential household items.”

Liberal Senator for Western Sydney, Senator the Hon Marise Payne, announced that the Liberal-National Government will provide funding to organisations which operate in western Sydney to offer critical services in financial resilience. They are:

  • The Trustee for the Roman Catholic Church for the Diocese of Parramatta - $163,669.50
  • Wesley Community Services Ltd. - $491,008.50
  • Granville Multicultural Community Centre Inc. - $163,669.50

Senator Payne said the Government is committed to helping people navigate through debt, learn how to better manage their money and become financially independent and welcomed the provision of funding to these organisations. “This investment is all about making sure vulnerable members of our community are supported in times of financial distress so that they can get back on track,” Senator Payne said.

“I am pleased that this funding will help support, among others, Wesley Community Services, which has a base in Penrith, and is undertaking important work in helping people during times of need. “The compassionate outreach of these organisations is an example of how Australians are sticking together and supporting one another, and I commend the many staff and volunteers who are engaged in these community-minded endeavours.”

From 1 January 2019, the Government will provide:

  • up to $8.2 million for Financial Counselling for Problem Gambling (to June 2020)
  • up to $21 million for Money Support Hubs (to June 2020)
  • up to $20.1 million for Microfinance (to June 2020)
  • up to $2.3 million to build capability for Commonwealth Financial Counsellors and Financial Capability workers (to June 2023).

A further $278 million in Financial Wellbeing and Capability Activity grants will be announced for Emergency Relief, Food Relief, Commonwealth Financial Counselling and Financial Capability and Financial Counselling Helpline services.

Around 400 community organisations are expected to benefit from the Financial Wellbeing and Capability Activity $328 million grants round.

 
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