Australia’s largest member-owned banking organisation, CUA, has today released its Financial Inclusion Action Plan (FIAP), supported by more than $1 million in community investment to address vulnerability.
The FIAP includes a continued focus on issues that contribute to financial stress, some of which have been potentially exacerbated by COVID-19:
- Helping Australians overcome barriers to home ownership. CUA will do this by partnering with government and the private sector through the National Affordable Housing Consortium’s BuyAssist shared equity initiative and the Australian Government’s First Home Loan Deposit Scheme.
- Lifting digital and financial capability in an online world through CUA’s Connected Future partnership with the Australian Red Cross and social enterprise Infoxchange.
- Helping members experiencing family violence, while extending support to community initiatives with Micah Projects in Brisbane and WIRE in Victoria to address financial abuse.
CUA CEO Paul Lewis said CUA’s commitments under the FIAP reinforce the mutual’s heritage of providing access to fair and affordable finance, and helping Australians improve their financial wellbeing.
“It’s part of our DNA. We know that by working with organisations like these we can support vulnerable Australians to build their financial capability and ultimately, give them the means to build a better financial future for themselves and their families,” he said.
CUA’s FIAP is available at https://www.cua.com.au/about-us/cua-community/our-financial-inclusion-action-plan