Warakirri College students get financial literacy thanks to a partnership with Bendigo Bank

21-Oct-2011

Students from Warakirri College in Parramatta are gaining valuable skills and confidence in financial literacy thanks to a partnership with Bendigo Bank facilitated by School Business Community Partnership Broker, AusSIP.

While working in the Parramatta area, AusSIP and Youth Connections provider MTC Work Solutions identified that many young people were having difficulty interacting in the community due to poor literacy and numeracy skills.

Through consultation with representations from the partnership, a pilot program was developed by Warakirri College and Bendigo Bank. This has now been embedded in the curriculum of the college and timetabled to meet the staffing and business requirements of the bank.

Students now have fortnightly sessions with Bendigo Bank employees who teach them about general banking, budgeting, internet use and how to create and manage a savings plan. The program is designed so the students can explore real-life experiences that they can use in the lives.

Both students and bank employees enjoy the training. One student was overheard saying to another, ‘Shhh, I want to learn this!’

Bendigo Bank has also benefited, with improved employee engagement and positive recruitment and retention implications. Participating employees stated that they are proud to be involved.

With assistance from AusSIP, Bendigo Bank plan to roll out this initiative across their branches, both NSW and interstate.

The Partnership Broker program and the Youth Connections program are both funded through DEEWR via the National Partnership on Youth Attainment and Transitions (YAT), which aims to increase the educational engagement and attainment of young people and to improve their transition to post school education, training and employment.