Good Shepherd to continue helping people in need
The Minister for Families, Community Services and Indigenous Affairs, Jenny Macklin, today officially launched Good Shepherd Microfinance, a Victorian-based community organisation that is providing financial assistance to vulnerable and disadvantaged Australians and their families.
Good Shepherd Microfinance, formerly a division of Good Shepherd Youth and Family Services, is receiving more than $42.4 million in funding over three years through the Australian Government’s Financial Management Program to support vulnerable Australians trying to get back on their feet.
Many families and individuals across Australia are struggling financially due to mortgage stress, credit card debt and cost of living pressures.
Over the past 12 months, more than 22,000 people in almost 580 locations across the country have accessed Good Shepherd’s services to help them get a better grip on their finances.
More than 18,500 people have accessed loans of up to $3,000 through Good Shepherd to help pay for expenses like a new washing machine, refrigerator or vehicle repairs.
These no interest and low interest loans are provided in partnership with the National Australia Bank to help people on low incomes.
The Australian Government is investing more than $486 million over four years in services that give vulnerable and disadvantaged Australians and their families tools to help manage their money, meet unexpected expenses and plan for the future.
This includes emergency relief services, financial counselling, money management services and the new Home Energy Saver Scheme, which helps people buy energy efficient appliances to reduce their utilities bills.
We are proud to work in partnership with Good Shepherd and the National Australia Bank to support these important programs which are helping thousands of Australian families balance the household budget.