That’s nearly 17 per cent of the adult population, at risk of financial hardship, vulnerable to poverty and predatory lending. Women are particularly vulnerable to financial exclusion.
"Nearly three million people across Australia face exclusion from mainstream banking and financial products."
Fred Ohlsson, Group Executive, Australia, ANZ
There is also a real cost to society as these people increasingly turn to welfare services for support to make ends meet.
Now, businesses around Australia are stepping up to address the problem. ANZ is one of 16 organisations which make up Good Shepherd Microfinance’s national network of cross-sector and cross-industry organisations committed to financial inclusion.