ANZ launches matched savings program in Solomon Islands

ANZ today announced the extension of Saver Plus, the world’s largest and longest-running matched savings and financial education program, to the Solomon Islands. This follows the successful launch of Saver Plus in Fiji and Vanuatu last year.

ANZ Solomon Islands Country Head, Heath Bruns, said: “As part of the Saver Plus program pilot, 25 participants in the Solomon Islands 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, ANZ will match their savings up to SBD1,800 which can be used to help ease cost of living pressures.”

In partnership with the UNDP Market for Change program, the pilot is being rolled out to 25 market vendors across the local community.

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

UNDP Team Leader for Inclusive Growth, Patrick Tuimalealiifano, said:

“Financial education is a key vehicle for achieving higher levels of inclusion and development. Skills related to planning and managing personal finances are crucial to achieving resilient and sustainable well-being. This partnership with ANZ will empower participants with the knowledge and tools they need to improve their financial stability and overall quality of life.”

ANZ founded and developed the Saver Plus matched savings program more than 21 years ago in Australia, in partnership with the 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. Bruns said. “Over the years, it has helped more than 61,000 Australians build their financial wellbeing, with participants collectively saving more than $30 million. To date, ANZ has contributed more than $26 million in matched savings.”

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