16 March, 2018, 12:00 am
MORE Fijians are expected to be instilled with a savings culture in the country through a financial literacy delivered through a strong partnership between two institutions in Fiji.
This is after ANZ Bank and the Fiji National Provident Fund yesterday announced a three-year extension of their partnership to drive a savings culture in Fiji through the delivery of MoneyMinded.
MoneyMinded is ANZ’s flagship financial literacy program that has now been delivered to more than 15,000 participants across the Pacific since its launch in the region in 2010.
It is a comprehensive suite of financial education resources designed by ANZ to assist adults in building their money management skills, knowledge and confidence.
The partnership between the two institutions was first announced in 2016 to deliver MoneyMinded to FNPF staff and members across Fiji.
More than 22 FNPF staff have since been accredited as MoneyMinded facilitators and with ANZ facilitators, have delivered the program to over 3900 FNPF staff and members.
According to ANZ regional executive Pacific Tessa Price the partnership was ultimately about improving people’s lives.
“We’re excited about this partnership that helps to spread our program across Fiji thanks to FNPF’s extensive staff and member network,” she said.
“We’re committed to supporting the communities where we operate and we want to make a difference to the lives of Pacific islanders through increased awareness of the value of strong financial management, planning and saving for their future,” Ms Price said.
FNPF chief executive Jaoji Koroi said the MoneyMnded program had equipped their staff members with the tools and skills to encourage FNPF members to save more for their retirement.
“An ongoing challenge for the Fund is the low member balances,” Mr Koroi said.
“We have about 70 per cent of our members who have balances of less than $10,000.
“We have since established a member education and advocacy team to influence member understanding and behaviour towards their retirement savings and encourage our members to inculcate a culture of savings.”