‘Neighbourly economy’ core to new Financial Inclusion Action Plan Report
- kirranicolle
- 14 minutes ago
- 2 min read
BY KIRRALEE NICOLLE
The Salvation Army’s Financial Inclusion (Moneycare) team has released its Financial Inclusion Action Plan (FIAP) Impact Highlights Report for 2018-2025. This release follows seven years of sustained work towards the goal of greater financial inclusion and empowerment within both The Salvation Army and the communities it reaches.
The FIAP, which was first launched in 2016-2018, sought to follow seven principles:
To build financial capability in money management and promote long-term financial resilience;
Act early on financial stressors before they reach a crisis point;
Deliver support through trusted, respectful and relational approaches;
Tailor services to meet the diverse needs of individuals and communities;
Work to change systems and policies which create financial exclusion;
Support Salvos personnel by ensuring they have access to financial inclusion support; and
Use data to continuously improve services through research, evaluation and feedback.
In a note included from Captain Brad McIver, Currently Special Projects Officer - Office of the Chief Secretary, he said that more than being a plan, FIAP was part of The Salvation Army’s purpose to walk with people as they rebuild and reimagine what’s possible – now and in the future.
“It’s about reflecting Jesus in every step, helping us all see ourselves as God does— loved, valued, and full of hope,” Brad wrote. “Financial inclusion is about more than money – it’s about building a neighbourly economy where no one is excluded from community, services or opportunity.”
The four key focus areas of the report were products and services, capability, attitudes and behaviour, culture and diversity and economic participation. The Impact Highlights Report demonstrates a high level of collaboration across teams in The Salvation Army, with Doorways, The Salvation Army Emergency Services and Aboriginal and Torres Strait Islander ministry teams just some of those who have been highlighted as contributing to the work of greater financial inclusion.
TSA National Moneycare Manager Kristen Hartnett said that the purpose of co-designing the rollout across teams was to see what was working, spot the gaps and better align for greater impact. She said the team was keen to learn from everybody, and knew there was a lot of talent within the organisation. She said financial inclusion was about people, and was one thread which could connect much of what TSA does.
“Financial inclusion helps bring together everything we do to include people financially, turning potential ideas into real opportunities,” Kristen said. “From here, we can strengthen our system-wide responses and inform the strategic direction of our future.”
The Report highlights the following outcomes from the work of the Financial Inclusion team as part of the FIAP:
People who have accessed TSA financial wellbeing services are more likely to be financially capable and resilient;
There is better targeting and delivery of services based on community needs and consultation;
Initial contact and early intervention occurs more effectively;
Internal personnel have increased their financial capability and resilience, with improved wellbeing;
Internal female personnel are more financially resilient and better positioned for retirement.
To find out more about The Salvation Army’s commitment to financial inclusion, see here.
