High school students from across the Hunter and Central Coast are set to benefit from a short-course focused on informed financial-decision making, thanks to the Greater Bank Finance Academy’s Fundamentals of Financial Literacy Program.
The free program is part of a five-year partnership between Greater Bank and the University of Newcastle, which has seen the establishment of the Greater Bank Finance Lab, coupled with the delivery of community education programs and practical workshops.
After a successful pilot program that was rolled out to 1000 students across 17 schools in 2019, Greater Bank and the University of Newcastle are encouraging more Hunter and Central Coast-based high schools to register their interest in the program.
Integrated into various subjects across Year 9 and 10 curriculum, the financial literacy program covers topics such as managing money, reducing debt and implementing simple saving strategies as a way of teaching students how to make informed financial decisions.
The program consists of three core and three elective lessons delivered at school during class time. One of the core lessons is delivered by Greater Bank employees who use their real-life banking experience to deliver practical content, as well as University of Newcastle Student Ambassadors who discuss the theory and broader strategies behind money management. The remaining lessons are delivered by teaching staff from the participating high schools.
Greater Bank Head of Marketing and Customer Experience, Matt Hingston is thrilled with the results of the pilot program and looks forwards to seeing the program implemented at even more Hunter high schools.
“We want our customers of tomorrow to be better informed about their financial responsibilities, particularly as we continue to move towards a cash-less society. It’s why we saw this as an important program to develop in conjunction with the University of Newcastle”
Matt Hingston, Greater Bank Head of Marketing and Customer Experience
“The feedback we received from students and teachers throughout the pilot phase was exceptionally positive and highlighted how engaged students were with the content and how their relationship with money changed in a positive way as a result of participating in the program."
“We had more than 1000 students undertake the program in 2019 and have established plans and resources to exceed this number in 2020,” Mr Hingston said.
University of Newcastle’s Pro Vice-Chancellor, Faculty of Business and Law, Professor Tony Travaglione said the Greater Bank Finance Academy provided valuable and innovative opportunities to support the Hunter community to build skills and improve their financial literacy.
“By combining our strengths in education, finance and community engagement we are excited to be able to deliver community education programs and practical facilities that support informed financial decision-making,” Professor Travaglione said.
“As part of the financial literacy program, we provide schools with all the educational resources and materials they need to effectively deliver the content. This makes it easy for teachers to deliver the program while helping students develop practical life skills to make them financially responsible.
“We’re extremely proud to continue this partnership with Greater Bank through to 2023 to help build financial literacy across the region.”
High schools interested in taking part in this year’s program are asked to register their interest by emailing FinanceAcademy@newcastle.edu.au