Geelong Placed-based Financial Inclusion Action Plans

In early 2018, the Helen Macpherson Smith Trust extended an opportunity for Good Shepherd to leverage the learnings of the national FIAP Program and test it in a specific place in regional Victoria. Geelong was selected as the first location to pilot the concept of a Place-Based FIAP.
Geelong2

Why Geelong?

The Geelong region has a diverse economy, with growing industries and access to infrastructure, yet heavy manufacturing has historically been the biggest employer. More recently, the uncertain global economy and the technological disruption has led to the downsizing and closure of many factories. The local economy has been transitioning towards more diversified employment in higher skilled service industries including education, health, scientific research, and tourism yet those with lower skills and education particularly older workers are likely to be left behind.

Geelong Financial Inclusion Action Plan: Driving Positive Change

The 2022 Geelong FIAP report highlights the critical role played by all Geelong FIAP members, over the past 18 months, in addressing the issues of financial stress and hardship affecting the local communities.

The Pioneers explored the impact of key risks and triggers of financial stress and hardship in Geelong such as low income, unemployment, specific life events, lack of access to safe and affordable products and services, limited knowledge, and capability to undertake effective financial decisions and identified practical actions to address these challenges.

Read more about how the Pioneers have been successful in driving positive change through practical actions: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://goodshep.org.au/wp-content/uploads/2022/01/Geelong-FIAP-Report-Dec-2021.pdf

Geelong Build Place-Based FIAP

With the success of the Foundation FIAP in the Geelong region, the development of a Geelong Regional ‘Build FIAP’ (phase two) was initiated in July 2022. This is made possible by funding support from the Building Better Regions Fund and the Federal Government, along with Good Shepherd.

This initiative has seen the continued engagement of the pioneer organisations along with the further engagement of potentially new Geelong Region placed-based FIAP members to help support the financial wellbeing of individuals within the Geelong community.

The ‘Build – Geelong Region Financial Inclusion Action Plan’ will launch in March/April 2023.

Place Based - Geelong FIAP

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