ANZ launches matched savings program pilot in Vanuatu

October 23, 2024 9:48 pm | Posted in Business News | Share now TwitterFacebook

ANZ yesterday announced that Saver Plus, the world’s largest and longest-running matched savings and financial education program, is being trialled in Vanuatu.

This follows the launch of Saver Plus in Fiji earlier this year.

ANZ Vanuatu Country Head, Terence Low, said: “As part of the Saver Plus program pilot, 33 participants in Vanuatu will set a savings goal, save for 10-months, and attend MoneyMinded and MoneyMinded Business Basics financial education workshops. At the end of the program, they will have their savings matched by ANZ, up to VT26,000, which can be used to help ease cost of living pressures,” Mr Low said.

In partnership with UNDP, Market For Change program, the pilot is being rolled out to 33 Market Vendors at the Port Vila Municipal Market House.

“In line with ANZ’s commitment to improving financial wellbeing, we believe this partnership will contribute to broader Pacific women’s economic empowerment,” Mr. Low says.

ANZ founded and developed the Saver Plus matched savings program more than 21 years ago in Australia, in partnership with Brotherhood of St. Laurence.

“ANZ is proud of the positive difference Saver Plus has made over the past 21 years. It has become a lifelong resource for improved financial wellbeing and confidence for many,” Mr. Low says.

“Over the years, it has helped to support more than 61,000 Australians build their financial wellbeing, with participants collectively saving more than $30 million. To date, ANZ has contributed more $26 million in matched savings.”