20 Nov 2018

NAB welcomes additional Government funding for Good Shepherd Microfinance

NAB welcomes the Federal Government’s announcement today that it will provide an additional $14.9 million to Good Shepherd Microfinance’s No Interest Loan Scheme (NILS) to support survivors of domestic and family violence.

Since 2003, NAB has partnered with Good Shepherd Microfinance, the Federal Government, and State and Territory Governments to provide more than 180,000 no interest loans. The loans of up to $1,500 help low-income Australians pay for household essentials and/or education costs.

NAB Chief Customer Officer of Consumer Banking, Mike Baird said the additional funding will help change lives.

“We’ve been a proud partner of Good Shepherd Microfinance for almost 16 years, and we are proud to help deliver no interest loans to support domestic and family violence survivors in regaining their financial independence,” Mr Baird said.

“It’s important to us that we do what we can to support vulnerable members of our community with financial resources, education and microfinance.

“This is an example of business, community organisations and governments working together to try to make a difference.”

NAB has committed $130 million in microfinance loan capital to support Good Shepherd Microfinance to administer NILS. In the last twelve months alone, more than 30,000 no interest loans – totalling more than $34 million – have been provided to low-income Australians.

This funding boost will expand the capacity of Good Shepherd Microfinance’s operations and loan delivery – unlocking more than $50 million in NAB loan capital over three years to help domestic and family violence survivors.

ADDITIONAL INFORMATION

NAB’s holistic approach to supporting employees, customers, and members of the community experiencing domestic and family violence:

In addition to supporting community organisations through the NAB Foundation, NAB provides paid leave to employees who are survivors of domestic and family violence. NAB was one of the first ASX-listed companies to introduce uncapped paid special leave based on a person’s specific needs in 2013, and extended the policy in 2017 to also provide reasonable paid leave to any employee providing support to a family or an immediate household member experiencing family violence.

In 2016, NAB was the first Australian bank to offer Domestic and Family Violence Assistance Grants to help customers experiencing financial hardship escape violent homes. More information can be found at nab.com.au/endtoviolence.

On Monday 19 November 2018, NAB launched “Join Together”, a national employee and customer campaign ahead of the 16 Days of Activism against Gender-Based Violence.

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